(4) Excess unusual land improvement cost (5) Unpaid balance of special assessment (6) Sum of lines (1) through (5) $ Line a minus line b (6) $ The secondary sources are discussed in detail below in the Sources & Uses section of the narrative. Existing Indebtedness <<For a purchase, this section should be and the information below titled “Purchase Price” should be replaced by an appropriate narrative section describing the pertinent terms of the purchase transaction, generally including: purchase price, itemization of costs to be paid by seller, date of agreement and addendums, expiration date, date by which sale must occur, etc.>> <<Provide detailed breakdown of all existing debt(s) being included in requested mortgage amount below. Include similar detail on HUD-92264a-ORCF.>> Schedule of Debt to Refinance Lender Pay-off Amount $ $ $ Total: $ Key Questions Yes No Are there any debts on the balance sheet or recorded against the borrower’s property, other than the primary mortgage, that will survive closing? . Are any of the debts to be paid off less than 2 years old? (Refer to Program Guidance below.) Does the borrower have any identities of interest with any of the existing lenders or noteholders? (Refer to Program Guidance below.) Do any of the debts to be paid off have prepayment penalties or other significant cost associated with them? Is any of the existing debt cross-collateralized with other assets (pooled debt or master leased) or financed with a line of credit? (If yes, explain how you allocated the debt between the facilities cross-collateralized.) Are delinquent real estate taxes included as an eligible transaction cost? <<For each answer above, provide a narrative discussion on the topic describing the risk “yes” and how it will be mitigated. >>
(4) Excess unusual land improvement cost (5) Unpaid balance of special assessment (6) Sum of lines (1) through (5) $ Line a minus line b (6) $ The secondary sources are discussed in detail below in the Sources & Uses section of the narrative. Existing Indebtedness <<For a purchase, this section should be titled “Purchase Price” and the information below should be replaced by an appropriate narrative section describing the pertinent terms of the purchase transaction, generally including: purchase price, itemization of costs to be paid by seller, date of agreement and addendums, expiration date, date by which sale must occur, etc.>> <<Provide detailed breakdown of all existing debt(s) being included in requested mortgage amount below. Include similar detail on HUD-92264a-ORCF.>> Schedule of Debt to Refinance Lender Pay-off Amount $ $ $ Total: $ Key Questions Yes No Are there any debts on the borrower’s balance sheet or recorded against the property, other than the primary mortgage, that will survive closing? . Are any of the debts to be paid off less than 2 years old? (Refer to Program Guidance below.) Does the borrower have any identities of interest with any of the existing lenders or noteholders? (Refer to Program Guidance below.) Do any of the debts to be paid off have prepayment penalties or other significant cost associated with them? Is any of the existing debt cross-collateralized with other assets (pooled debt or master leased) or financed with a line of credit? (If yes, explain how you allocated the debt between the facilities cross-collateralized.) Are delinquent real estate taxes included as an eligible transaction cost? <<For each “yes” answer above, provide a narrative discussion on the topic describing the risk and how it will be mitigated. >>
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