Preparation for Loan Closing Sample Clauses

Preparation for Loan Closing. After the LRC has approved a loan, closing documents will be prepared. After an approval letter has been issued and the conditions and terms have been accepted in writing by the borrower, a meeting with a City of Cheyenne attorney may take place to determine the documents needed for closing. Keeping closing costs at a minimum is critical to make the program affordable to those needing it most. At a minimum, a loan agreement, promissory note, and collateral and security instruments and guaranty will be required. Other information may be requested as deemed necessary by the LRC. The following documents will generally be required: