Common use of Commercial Letter of Credit Clause in Contracts

Commercial Letter of Credit. To secure completion of these improvements on or before the specified completion date, the undersigned has accepted from , builder, an irrevocable letter of credit drawn upon , a commercial bank, dated , in the amount of $ , which letter will make available to the undersigned $ , for the completion of these improvements, and the undersigned agrees to not release the right to draw upon said letter of credit, hereinafter referred to as the "Fund," until a representative of the undersigned has made a personal inspection of the work and found that all items have been satisfactorily completed and there is evidence satisfactory to the undersigned that there are no liens or possibilities of liens in connection with said improvements on the premises covered by the above. The undersigned further engages and confirms, if a letter of credit constitutes the "Fund," that the issuing bank will honor said letter of credit or that the undersigned will, itself, honor said letter of credit. The undersigned agrees to notify the Field Office when final disbursement is made, and further agrees that, in the event of offering the credit and security instruments to the above-numbered case for sale or transfer prior to such final disbursement or release of the letter of credit, it will notify the prospective purchaser thereof in full detail. It is understood that HUD will not release the original mortgagee from its responsibility unless the transferee assumes the responsibilities of the transferor either by execution of a new form, or by making a proper endorsement on the existing form to the effect that it accepts the new agreement and assumes the responsibility of the transferor. The undersigned further agrees that as further consideration for issuance of a Mortgage Insurance Certificate in this case, this instrument shall constitute a primary obligation of the undersigned to complete these improvements in a manner satisfactory to comply with the requirements of the Compliance Inspection Report or HUD Commitment For Insurance identified above regardless of the adequacy for such completion of the "Fund." Date : Signature & Title of Mortgagee's Official : For Direct Endorsement Underwriters Only : Mark the Box & Enter Your ID No. Part 1 - Original to HUD Case Binder Mortgagee - After completing the form, send Parts 1 and 2 to the HUD Field Office form HUD-92300 (2/91) ref. Handbook 4145.1 Instructions: Please complete and submit Part 4 to the HUD Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's Name, Address, & Zip Code : FHA Case No. : Mortgagor : Property Location : (Mark the appropriate box) HUD Commitment Date : Form HUD-92051 Amount of Escrow Fund : $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: Such assurance of completion represents an agreement solely between HUD and the Mortgagee, and does not relieve the Mortgagee of responsibility for assuring itself, by supplemental agreement or otherwise, that the work is completed if not performed by the Mortgagor. The Mortgagee is held responsible even if the stipulated escrow amount proves to be insufficient. Date : Signature & Title of Mortgagee's Official : For Direct Endorsement Underwriters Only : Mark the Box & Enter Your ID No. Part 2 - HUD Tickler File Copy Return to the Mortgagee if Part 4 is not received on time. form HUD-92300 (2/91) ref. Handbook 4145.1 Instructions: Please complete and submit Part 4 to the HUD Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's Name, Address, & Zip Code : FHA Case No. : Mortgagor : Property Location : (Mark the appropriate box) HUD Commitment Date : Form HUD-92051 Amount of Escrow Fund : $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are:

Commercial Letter of Credit. To secure completion of these improvements on or before the specified completion date, the undersigned has accepted from , builder, an irrevocable letter of credit drawn upon , a commercial bank, dated , in the amount of $ , which letter will make available to the undersigned $ , for the completion of these improvements, and the undersigned agrees to not release the right to draw upon said letter of credit, hereinafter referred to as the "Fund," until a representative of the undersigned has made a personal inspection of the work and found that all items have been satisfactorily completed and there is evidence satisfactory to the undersigned that there are no liens or possibilities of liens in connection with said improvements on the premises covered by the above. The undersigned further engages and confirms, if a letter of credit constitutes the "Fund," that the issuing bank will honor said letter of credit or that the undersigned will, itself, honor said letter of credit. The undersigned agrees to notify the Field Office when final disbursement is made, and further agrees that, in the event of offering the credit and security instruments to the above-numbered case for sale or transfer prior to such final disbursement or release of the letter of credit, it will notify the prospective purchaser thereof in full detail. It is understood that HUD will not release the original mortgagee from its responsibility unless the transferee assumes the responsibilities of the transferor either by execution of a new form, or by making a proper endorsement on the existing form to the effect that it accepts the new agreement and assumes the responsibility of the transferor. The undersigned further agrees that as further consideration for issuance of a Mortgage Insurance Certificate in this case, this instrument shall constitute a primary obligation of the undersigned to complete these improvements in a manner satisfactory to comply with the requirements of the Compliance Inspection Report or HUD Commitment For Insurance identified above regardless of the adequacy for such completion of the "Fund." Date : Signature & Title of Mortgagee's Official : For Direct Endorsement Underwriters Only : Mark the Box & Enter Your ID No. Part 1 3 - Original to HUD Case Binder Mortgagee's Copy Mortgagee - After completing the form, send Parts 1 and 2 to the HUD Field Office form HUD-92300 (2/91) ref. Handbook 4145.1 Instructions: Please complete and submit Part 4 to the HUD Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's Name, Address, & Zip Code : FHA Case No. : Mortgagor : Property Location : (Mark the appropriate box) HUD Commitment Date : Form HUD-92051 Amount of Escrow Fund : $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: Such You are reminded that such assurance of completion represents an agreement solely between HUD and the Mortgagee, and does not relieve the Mortgagee of responsibility for assuring itself, by supplemental agreement or otherwise, that the work is completed if not performed by the Mortgagor. The Mortgagee is held responsible even if the stipulated escrow amount proves to be insufficient. To The Federal Housing Commissioner: The undersigned certifies that a representative has personally inspected the construction, alterations and repairs covered by the assurance of completion mentioned above, and that all said items have been completed in a satisfactory manner. The balance of funds held to assure completion has been properly disbursed. Date : Signature & Title of Mortgagee's Official : For Direct Endorsement Underwriters Only : Mark the Box & Enter Your ID No. Part 2 4 - HUD Tickler File Copy Return to the Mortgagee if Part 4 is not received on time. form HUD-92300 (2/91) ref. Handbook 4145.1 Instructions: Please complete and submit Part 4 to the HUD Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's Name, Address, & Zip Code : FHA Case No. : Mortgagor : Property Location : (Mark the appropriate box) HUD Commitment Date : Form HUD-92051 Amount of Escrow Fund : $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are:: You are reminded that such assurance of completion represents an agreement solely between HUD and the Mortgagee, and does not relieve the Mortgagee of responsibility for assuring itself, by supplemental agreement or otherwise, that the work is completed if not performed by the Mortgagor. The Mortgagee is held responsible even if the stipulated escrow amount proves to be insufficient. To The Federal Housing Commissioner: The undersigned certifies that a representative has personally inspected the construction, alterations and repairs covered by the assurance of completion mentioned above, and that all said items have been completed in a satisfactory manner. The balance of funds held to assure completion has been properly disbursed. Date : Signature & Title of Mortgagee's Official : For Direct Endorsement Underwriters Only : Mark the Box & Enter Your ID No. Part 5 - Mortgagee's Copy form HUD-92300 (2/91)

Commercial Letter of Credit. To secure completion of these improvements on or before the specified completion date, the undersigned has accepted from 2107:PR_BldrName , builder, an irrevocable letter of credit drawn upon -32998:DB1307, a commercial bank, dated -32997:DB1306, in the amount of $ -33022:DB1308, which letter will make available to the undersigned $ -33023:DB1304, for the completion of these improvements, and the undersigned agrees to not release the right to draw upon said letter of credit, hereinafter referred to as the "Fund," until a representative of the undersigned has made a personal inspection of the work and found that all items have been satisfactorily completed and there is evidence satisfactory to the undersigned that there are no liens or possibilities of liens in connection with said improvements on the premises covered by the above. The undersigned further engages and confirms, if a letter of credit constitutes the "Fund," that the issuing bank will honor said letter of credit or that the undersigned will, itself, honor said letter of credit. The undersigned agrees to notify the Field Office when final disbursement is made, and further agrees that, in the event of offering the credit and security instruments to the above-numbered case for sale or transfer prior to such final disbursement or release of the letter of credit, it will notify the prospective purchaser thereof in full detail. It is understood that HUD will not release the original mortgagee from its responsibility unless the transferee assumes the responsibilities of the transferor either by execution of a new form, or by making a proper endorsement on the existing form to the effect that it accepts the new agreement and assumes the responsibility of the transferor. The undersigned further agrees that as further consideration for issuance of a Mortgage Insurance Certificate in this case, this instrument shall constitute a primary obligation of the undersigned to complete these improvements in a manner satisfactory to comply with the requirements of the Compliance Inspection Report or HUD Commitment For Insurance identified above regardless of the adequacy for such completion of the "Fund." Date Date: Signature & Title of Mortgagee's Official ' s Official: For Direct Endorsement Underwriters Only Only: Mark the Box & Enter Your ID No. X Part 1 - Original to HUD Case Binder Mortgagee - After completing the form, send Parts 1 and 2 to the HUD Field Office form HUD-92300 (2/91) ref. Handbook 4145.1 4145. 1 Instructions: Please complete and submit Part 4 to the HUD Field Office as soon as the work is completed and inspected (on or before the specified completion date), and the balance of funds held to assure completion has been disbursed. Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's ' s Name, Address, & Zip Code Code: FHA Case No. .: Mortgagor Mortgagor: Property Location Location: (Mark the HUD Commitment appropriate box) HUD Commitment Date : Form HUD-92051 Date: Completion Date: Amount of Escrow Fund Fund: $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: -30320:DB10618 Such assurance of completion represents an agreement solely between HUD and the Mortgagee, and does not relieve the Mortgagee of responsibility for assuring itself, by supplemental agreement or otherwise, that the work is completed if not performed by the Mortgagor. The Mortgagee is held responsible even if the stipulated escrow amount proves to be insufficient. Date Date: Signature & Title of Mortgagee's Official ' s Official: For Direct Endorsement Underwriters Only Only: Mark the Box & Enter Your ID No. X Part 2 - HUD Tickler File Copy Return to the Mortgagee if Part 4 is not received on time. form HUD-92300 (2/91) ref. Handbook 4145.1 4145. 1 Instructions: Please complete and submit Part 4 to the HUD Field Office as soon as the work is completed and inspected (on or before the specified completion date), and the balance of funds held to assure completion has been disbursed. Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's ' s Name, Address, & Zip Code Code: FHA Case No. .: Mortgagor Mortgagor: Property Location Location: (Mark the HUD Commitment appropriate box) HUD Commitment Date : Form HUD-92051 Date: Completion Date: Amount of Escrow Fund Fund: $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: -30320:DB10618

Commercial Letter of Credit. To secure completion of these improvements on or before the specified completion date, the undersigned has accepted from 2107:PR_BldrName , builder, an irrevocable letter of credit drawn upon -32998:DB1307, a commercial bank, dated -32997:DB1306, in the amount of $ -33022:DB1308, which letter will make available to the undersigned $ -33023:DB1304, for the completion of these improvements, and the undersigned agrees to not release the right to draw upon said letter of credit, hereinafter referred to as the "Fund," until a representative of the undersigned has made a personal inspection of the work and found that all items have been satisfactorily completed and there is evidence satisfactory to the undersigned that there are no liens or possibilities of liens in connection with said improvements on the premises covered by the above. The undersigned further engages and confirms, if a letter of credit constitutes the "Fund," that the issuing bank will honor said letter of credit or that the undersigned will, itself, honor said letter of credit. The undersigned agrees to notify the Field Office when final disbursement is made, and further agrees that, in the event of offering the credit and security instruments to the above-numbered case for sale or transfer prior to such final disbursement or release of the letter of credit, it will notify the prospective purchaser thereof in full detail. It is understood that HUD will not release the original mortgagee from its responsibility unless the transferee assumes the responsibilities of the transferor either by execution of a new form, or by making a proper endorsement on the existing form to the effect that it accepts the new agreement and assumes the responsibility of the transferor. The undersigned further agrees that as further consideration for issuance of a Mortgage Insurance Certificate in this case, this instrument shall constitute a primary obligation of the undersigned to complete these improvements in a manner satisfactory to comply with the requirements of the Compliance Inspection Report or HUD Commitment For Insurance identified above regardless of the adequacy for such completion of the "Fund." Date Date: Signature & Title of Mortgagee's Official ' s Official: For Direct Endorsement Underwriters Only Only: X Mark the Box & Enter Your ID No. Part 1 3 - Original to HUD Case Binder Mortgagee' s Copy Mortgagee - After completing the form, send Parts 1 and 2 to the HUD Field Office form HUD-92300 (2/91) ref. Handbook 4145.1 4145. 1 Instructions: Please complete and submit Part 4 to the HUD Field Office as soon as the work is completed and inspected (on or before the specified completion date), and the balance of funds held to assure completion has been disbursed. Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's ' s Name, Address, & Zip Code Code: FHA Case No. .: Mortgagor Mortgagor: Property Location Location: (Mark the HUD Commitment appropriate box) HUD Commitment Date : Form HUD-92051 Date: Completion Date: Amount of Escrow Fund Fund: $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: Such -30320:DB10618 You are reminded that such assurance of completion represents an agreement solely between HUD and the Mortgagee, and does not relieve the Mortgagee of responsibility for assuring itself, by supplemental agreement or otherwise, that the work is completed if not performed by the Mortgagor. The Mortgagee is held responsible even if the stipulated escrow amount proves to be insufficient. Date To The Federal Housing Commissioner: The undersigned certifies that a representative has personally inspected the construction, alterations and repairs covered by the assurance of completion mentioned above, and that all said items have been completed in a satisfactory manner. The balance of funds held to assure completion has been properly disbursed. Date: Signature & Title of Mortgagee's Official ' s Official: For Direct Endorsement Underwriters Only Only: Mark the Box & Enter Your ID No. Part 2 4 - HUD Tickler File Copy Return to the Mortgagee if Part 4 is not received on time. form HUD-92300 (2/91) ref. Handbook 4145.1 4145. 1 Instructions: Please complete and submit Part 4 to the HUD Field Office as soon as the work is completed and inspected (on or before the specified completion date), and the balance of funds held to assure completion has been disbursed. Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's ' s Name, Address, & Zip Code Code: FHA Case No. .: Mortgagor Mortgagor: Property Location Location: (Mark the HUD Commitment appropriate box) HUD Commitment Date : Form HUD-92051 Date: Completion Date: Amount of Escrow Fund Fund: $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: -30320:DB10618 You are reminded that such assurance of completion represents an agreement solely between HUD and the Mortgagee, and does not relieve the Mortgagee of responsibility for assuring itself, by supplemental agreement or otherwise, that the work is completed if not performed by the Mortgagor. The Mortgagee is held responsible even if the stipulated escrow amount proves to be insufficient. To The Federal Housing Commissioner: The undersigned certifies that a representative has personally inspected the construction, alterations and repairs covered by the assurance of completion mentioned above, and that all said items have been completed in a satisfactory manner. The balance of funds held to assure completion has been properly disbursed. Date: Signature & Title of Mortgagee' s Official: For Direct Endorsement Underwriters Only: Mark the Box & Enter Your ID No. Part 5 - Mortgagee' s Copy ref. Handbook 4145. 1 FHA M ort gagee' s A ssurance of Com plet ion f orm HUD-9 2 3 0 0 (2 / 9 1 ) V M P W olt ers Kluw er Financial Serv ices U_D412 Rev 03/16

Commercial Letter of Credit. To secure completion of these improvements on or before On the specified completion dateterms and subject to the conditions hereof, at any time and from time to time from the Closing Date through the Maturity Date, the undersigned has accepted from , builder, an irrevocable letter Issuing Lender shall issue such Commercial Letters of credit drawn upon , Credit in Dollars under the Revolving Facility as Borrower may request by submitting a commercial bank, dated , in the amount completed Letter of $ , which letter will make available Credit Application to the undersigned $ Issuing Lender as provided herein; provided that giving effect to all such Commercial Letters of Credit, for (i) Revolving Credit Facility Usage does not exceed the completion Maximum Revolving Credit Amount minus the then applicable Aggregate Availability Reserve Amount at such time, (ii) the Aggregate Effective Amount under all outstanding Commercial Letters of these improvementsCredit shall not exceed the Commercial Letter of Credit Sublimit at such time, and (iii) as to each relevant Lender, such Lender’s Pro Rata Share of Revolving Credit Facility Usage does not exceed such Lender’s Commitment minus such Lender’s Pro Rata Share of the then applicable Aggregate Availability Reserve Amount at such time. Each Letter of Credit shall be in a form acceptable to the Issuing Lender. Unless the Issuing Lender and the Requisite Lenders otherwise consent, the term of any Standby Letter of Credit shall not exceed 365 days, and the undersigned agrees term of any Commercial Letter of Credit shall not exceed 180 days. Unless all the Lenders otherwise consent in a writing delivered to the Administrative Agent, the term of any Letter of Credit shall not release extend beyond the right to draw upon said letter Maturity Date. A Letter of credit, hereinafter referred to as Credit Application shall be irrevocable absent the "Fund," until a representative consent of the undersigned has made a personal inspection Issuing Lender. All Existing Letters of the work and found that all items Credit shall be deemed to have been satisfactorily completed issued pursuant hereto, and there is evidence satisfactory from and after the Closing Date shall be subject to the undersigned that there are no liens or possibilities of liens in connection with said improvements on the premises covered and governed by the above. The undersigned further engages terms and confirms, if a letter of credit constitutes the "Fund," that the issuing bank will honor said letter of credit or that the undersigned will, itself, honor said letter of credit. The undersigned agrees to notify the Field Office when final disbursement is made, and further agrees that, in the event of offering the credit and security instruments to the above-numbered case for sale or transfer prior to such final disbursement or release of the letter of credit, it will notify the prospective purchaser thereof in full detail. It is understood that HUD will not release the original mortgagee from its responsibility unless the transferee assumes the responsibilities of the transferor either by execution of a new form, or by making a proper endorsement on the existing form to the effect that it accepts the new agreement and assumes the responsibility of the transferor. The undersigned further agrees that as further consideration for issuance of a Mortgage Insurance Certificate in this case, this instrument shall constitute a primary obligation of the undersigned to complete these improvements in a manner satisfactory to comply with the requirements of the Compliance Inspection Report or HUD Commitment For Insurance identified above regardless of the adequacy for such completion of the "Fundconditions hereof." Date : Signature & Title of Mortgagee's Official : For Direct Endorsement Underwriters Only : Mark the Box & Enter Your ID No. Part 1 - Original to HUD Case Binder Mortgagee - After completing the form, send Parts 1 and 2 to the HUD Field Office form HUD-92300 (2/91) ref. Handbook 4145.1 Instructions: Please complete and submit Part 4 to the HUD Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's Name, Address, & Zip Code : FHA Case No. : Mortgagor : Property Location : (Mark the appropriate box) HUD Commitment Date : Form HUD-92051 Amount of Escrow Fund : $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: Such assurance of completion represents an agreement solely between HUD and the Mortgagee, and does not relieve the Mortgagee of responsibility for assuring itself, by supplemental agreement or otherwise, that the work is completed if not performed by the Mortgagor. The Mortgagee is held responsible even if the stipulated escrow amount proves to be insufficient. Date : Signature & Title of Mortgagee's Official : For Direct Endorsement Underwriters Only : Mark the Box & Enter Your ID No. Part 2 - HUD Tickler File Copy Return to the Mortgagee if Part 4 is not received on time. form HUD-92300 (2/91) ref. Handbook 4145.1 Instructions: Please complete and submit Part 4 to the HUD Note: This is not an escrow agreement. The mortgagee must take such action as it Field Office as soon as the work is completed and inspected (on considers necessary, by supplemental agreement or otherwise, to assure itself that the work or before the specified completion date), and the balance of will be completed if not performed by the mortgagor. The Department holds the mortgagee funds held to assure completion has been disbursed. responsible even if the stipulated escrow amount proves to be insufficient. Mortgagee's Name, Address, & Zip Code : FHA Case No. : Mortgagor : Property Location : (Mark the appropriate box) HUD Commitment Date : Form HUD-92051 Amount of Escrow Fund : $ Completion Date : To The Federal Housing Commissioner: In consideration of your issuing a Mortgage Insurance Certificate in the above numbered case, the undersigned will see that the incomplete construction, alterations and repairs as set forth in the HUD Compliance Inspection Report or HUD Commitment for Insurance identified above are completed on or before the specified completion date. The undersigned further agrees that at the time of completion it will certify to its personal inspection and the satisfactory completion of all items. The Items To Be Completed Are: