Common Contracts
1 similar Rate Lock Agreement contracts
RATE LOCK AGREEMENTRate Lock Agreement • April 1st, 2016
This refers to the Proposal Letter (“PL”) we (the “Bank”) issued to you (the “Applicant”) on April 1, 2016 in connection with Applicant’s request for a first mortgage commercial loan to be secured by a deed of trust on property located at 1710 Palmyrita Ave., Riverside, CA 92507 under the terms set forth in the PL, in the principal sum of $1,400,000 (the “Loan”). Applicant has requested that the Bank agree to the Loan at a rate of interest of 4.27% for a Ten Year Loan (the “Interest Rate Lock”), as described in the Proposal Letter dated April 1, 2016. This letter will confirm that the Interest Rate Lock will apply to the Loan but only if the Bank decides to make the Loan, in its sole and absolute discretion. THIS LETTER IS NOT A COMMITMENT BY THE BANK TO MAKE THE LOAN.
