Principal of the Borrower – <<enter name of principal here>> <<Provide this section for each principal of the borrower.>> Key Questions Yes No According to the application exhibits, is or has the principal been delinquent on any federal debt? . According to the application exhibits, is or has the principal been a defendant in any suit or legal action? According to the application exhibits, has the principal ever filed for bankruptcy or made compromised settlements with creditors? According to the application exhibits, are there judgments recorded against the principal? According to the application exhibits, are there any unsatisfied tax liens against the principal? <<For each answer above, provide a narrative discussion on the topic describing the risk “yes” and how it will be mitigated. >> Organization <<Not applicable to individuals. If the principal is an entity, provide the following:>> Name: State of organization: Date formed: Termination date: <<As applicable, please provide organization chart and narrative discussion.>> Experience/Qualifications <<Provide narrative description of experience and qualifications. Discussion principal’s should highlight direct experience and involvement in other HUD transactions. This section should clearly demonstrate that the borrower will have sufficient expertise from which to draw to successfully on to own the facility.>> <<Narrative must also include a discussion on the available working capital of the party (or parties) who will be responsible for providing the financial requirements for closing and beyond. The discussion must clearly show that this party has the ability to support the project over the long-term. In addition, include the percentage of into the project, net owner’s/principal’s equity worth, and liquidity. See Program Guidance below.>> .
Principal of the Borrower – <<enter name of principal here>> <<Provide this section for each principal of the borrower.>> Key Questions Yes No According to the application exhibits, is or has the principal been delinquent on any federal debt? . According to the application exhibits, is or has the principal been a defendant in any suit or legal action? According to the application exhibits, has the principal ever filed for bankruptcy or made compromised settlements with creditors? According to the application exhibits, are there judgments recorded against the principal? According to the application exhibits, are there any unsatisfied tax liens against the principal? <<For each “yes” answer above, provide a narrative discussion on the topic describing the risk and how it will be mitigated. >> Organization <<Not applicable to individuals. If the principal is an entity, provide the following:>> Name: State of organization: Date formed: Termination date: <<As applicable, please provide organization chart and narrative discussion.>> Experience/Qualifications <<Provide narrative description of principal’s experience and qualifications. Discussion should highlight direct experience and involvement in other HUD transactions. This section should clearly demonstrate that the borrower will have sufficient expertise from which to draw to successfully on to own the facility.>> <<Narrative must also include a discussion on the available working capital of the party (or parties) who will be responsible for providing the financial requirements for closing and beyond. The discussion must clearly show that this party has the ability to support the project over the long-term. In addition, include the percentage of owner’s/principal’s equity into the project, net worth, and liquidity. See Program Guidance below.>> .
9005_ORCF.DOCX