CONSTRUCTION LOAN ESCROW DISBURSEMENT AGREEMENT – WISCONSINConstruction Loan Escrow Disbursement Agreement • October 3rd, 2012
Commitment/Policy No.: 1. This agreement sets forth the instructions from Lender and Owner to Escrowee for the disbursement of construction loan and owner equity funds for the construction of improvements on the property described in the above-referenced title insurance commitment or policy (the “Project”). The Lender will, from time to time, deposit a total of $ (the “Loan Funds”) with (“Escrowee”). Owner or Lender may deliver to Escrowee funds of the Owner, which represent the Owner’s equity contribution to the improvements, including the cost of additions the Project or cost overruns. The General Contractor is to be , and the Inspector is to be . 2. Escrowee is authorized and directed to disburse the funds deposited hereunder in the following manner: a. pay costs of construction of an improvement (the “Improvement”) to be erected on the Premises; b. obtain releases and satisfaction of liens and other encumbrances, if any, pursuant to statements of amounts due, which mu
