Name: The ORCF Underwriter will complete this Telephone: The ORCF Underwriter will complete this Email: The ORCF Underwriter will complete this 29. Prior to Initial Endorsement, evidence of flood insurance is required whenever the property is located in an area of special flood hazards in which flood insurance is available under the National Flood Insurance Act. On this project, flood insurance is: REQUIRED NOT REQUIRED 30. All comments in the Legal Punch List must be addressed to satisfaction prior to HUD’s closing. 31. If an archaeological site, human remains, or cultural resources of tribal interest are revealed during the project's construction, HUD must be notified. HUD will contact responders to the Section 106 consultation, as applicable. 32. The final insurance policy must include Fidelity Insurance equal to at least two months underwritten potential gross income ($_________) and must be in place prior to issuance of the Permission to Occupy. 33. Prior to Initial Endorsement, the Borrower and Operator must certify that between issuance of Firm Commitment and Initial Endorsement, none of the following have occurred: (a) federal, state, municipal and or other regulatory authority action against the project that demonstrates or alleges substantial deficiencies in the operation of the project which may be evidenced by an administrative or judicial proceeding or final audit finding; (b) filing of a bankruptcy petition of Borrower, or Operator; (c) filing of a lawsuit or criminal charges against the Operator or Borrower entity or any principal thereof; or (d) placement of a Special Focus Designation or ban on new admissions on the project. HUD reserves the right to suspend processing or terminate this Commitment in the event that any of the factors (a)-(d) listed above occur prior to Endorsement. 34. This Commitment is: Subject to Special Conditions numbered 1 through , which are included below and are made a part hereof. Not subject to any Special Conditions. Special Conditions: [Insert Special Conditions] [Balance of page intentionally left blank]
Name: The ORCF Underwriter will complete this Telephone: The ORCF Underwriter will complete this Email: The ORCF Underwriter will complete this 29. Prior to Initial Endorsement, evidence of flood insurance is required whenever the property is located in an area of special flood hazards in which flood insurance is available under the National Flood Insurance Act. On this project, flood insurance is: REQUIRED NOT REQUIRED 30. All comments in the Legal Punch List must be addressed to HUD’s satisfaction prior to closing. 31. If an archaeological site, human remains, or cultural resources of tribal interest are revealed during the project's construction, HUD must be notified. HUD will contact responders to the Section 106 consultation, as applicable. 32. The final insurance policy must include Fidelity Insurance equal to at least two months underwritten potential gross income ($_________) and must be in place prior to issuance of the Permission to Occupy. 33. Prior to Initial Endorsement, the Borrower and Operator must certify that between issuance of Firm Commitment and Initial Endorsement, none of the following have occurred: (a) federal, state, municipal and or other regulatory authority action against the project that demonstrates or alleges substantial deficiencies in the operation of the project which may be evidenced by an administrative or judicial proceeding or final audit finding; (b) filing of a bankruptcy petition of Borrower, or Operator; (c) filing of a lawsuit or criminal charges against the Operator or Borrower entity or any principal thereof; or (d) placement of a Special Focus Designation or ban on new admissions on the project. HUD reserves the right to suspend processing or terminate this Commitment in the event that any of the factors (a)-(d) listed above occur prior to Endorsement. 34. This Commitment is: Subject to Special Conditions numbered 1 through , which are included below and are made a part hereof. Not subject to any Special Conditions. Special Conditions: [Insert Special Conditions] [Balance of page intentionally left blank]
FIRMCOMITMENT-2STAGEFINAL.DOCX