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U S. DEPARTMERT OF HOUSING AND ORDAII DEVELOPMENT FARE
<br />,17" I FEDERAL HOUSING ADMINISTRATION CASE
<br />NO.
<br />PROPERTY ADDRESS
<br />k CONDITIOWA COMMITMENT 3'iU3 Cokes ?!,
<br />FOR MORTGAGE INSURANCE UNDER
<br />THE NATIONAL HOUSING ACT I Everett, VA 9U1
<br />ElSEC. 707161 ff] „
<br />SEC. ^�' 1 (;1)7
<br />SKRHI)OD 1, R4ZERTS, INC.
<br />P.O. Qux 353
<br />Everett, 171 "206
<br />COMM ITME419' NIi MAX.MORLAMT.
<br />ESTIMATED VALUE
<br />OF PROPERTY
<br />_�-
<br />COMMIIIED•FOR INSURANCE
<br />COMMITMENT
<br />Irsuad: �_ /1 19 /(
<br />Esplrest 1 j / 19
<br />1'
<br />-� NO. MOS. 't MAX. INTEREST-S'—%
<br />%Goa oY/O
<br />7. MONTHLY EXPENSE ESTIMATE
<br />Fire Ins ...... S
<br />Tasm . S._.eJ��
<br />Eondo.Com.Exp. f
<br />Met.. A Repairs $��-
<br />Heat %UDRnes $
<br />ESTIMATED
<br />CLOSINO
<br />COST ...... S ( I
<br />[2, EXISTING O PROPOSED
<br />r (Sec Gen. Cmld.ri3)
<br />Improvod 1
<br />LI,Ina Area - So. Ft.
<br />INFORMATION
<br />The estimates of fire Insurance, taxes, mnlnlenance/repulrs, henl/u11111ies and closing costs on furnished for mortgagee's and mortgagor's
<br />Information. They may be used to prepare FIIA Form 2900, Application for Credit Approval, when a firm commitment Is desired.
<br />GENERAL COMMITMENT CONDITIONS
<br />1. MAXiNIUM MORTCAGF.AMOUNT AND TERNIS-
<br />( n IOCCUPANTMORTGAGORS:-The mortgage mnnnnt and term
<br />set rnrth In the hendinn are the maximum npprovcd for this prop-
<br />erty nsenndng n e IMocmry owner -occupant lnolllmgnr. The
<br />mnxlmum amount and tern In the heading may be changed depend.
<br />Ing upon FAA's rating of Ibe borrower, Ids Income and credit.
<br />(b) NONOCCUPANT MORTGAGORS: —If the mortgagor does not
<br />occupy the house, the law limits the maximum mortgage amount to
<br />not to exceed 85% of the mnxlmum amount available to an eligi.
<br />ble mortgagor who w•III occupy the house (86% of value If Sec.
<br />203(1) or 221). In the case of nonoccuponl mortgagors, the Ibm
<br />cemmllment when Issued will reduce the mortgage amount and lcmle
<br />below that stated In the heading.
<br />(c)COMMITMENT CHANGES: —The Commissioner may, upon re-
<br />quest of the approved mortgagee, change the mortgage amount and
<br />term set forth In the heading. If the application Is accompanied by
<br />a VA CRV, changes will be made only if VA Issues on amendment.
<br />2. FIRM COMMITMENT: —A firm commitment to Insure a loan will be
<br />Issued upon receipt ofan Application for Credit Approval, FIIA Farm
<br />2900, executed by an approved mortgagee and a borrower satisfactory
<br />to the Commissioner.
<br />9, COMMITMENT TIillhf:—This commitment shelf rxplm SIX MONTHS
<br />front the Issue d etc In the case of I'll EXISTING 110TIS11 or ONE
<br />YEAR front Ito dale In the case of PROPOSED L'ON'STRUCI'ION.
<br />(FIIA classifies al: cases as either "EXISTING' or "I2f01'0SIiD'
<br />for the purpose of determining when a commitment erphre. Accord.
<br />ingly, a house, even though still under conslivellon, may be clasah
<br />fird as an existing house If It was not approved by FIfA or VA prior
<br />to the beginning of eonstructfon.)
<br />4. CANCELLATION: — This commitment may be cancelled after GO
<br />days from the dale of Issuance If construction hoe not elated, unless
<br />the mortgagee has disbursed loan proceeds.
<br />S. PROPERTY STANDARDS: — NI construction, repalre, or niternllons
<br />proposed In the application or on the drawings nod specifications
<br />returned herewith, shall equal or exceed the FHA Minimum Property
<br />Standards.
<br />SPECIFIC COMMITMENT CONDITIONS (Applicable whenehrched)
<br />1. HEALTH AUTHORITY APPROVAL: —Execution of Form 2573 by
<br />Q the Health Authority Indicating approval of the water supply and/
<br />or sewage disposal Installation Is required. (Approval by letter
<br />or Health Authority Form may be used.)
<br />2. 'I'lillhf l'I'EL'l1N'fllllir.—(n)RXI9TIN11110LISL•'-I+urnlnhcrrllflcnlo
<br />From a recognized termite control operator that the braise shows
<br />no evidence of an active termite Infestation. (b) PROPOSED CON.
<br />S". RUCTION - Furnish original and two copies of Termlle Sol[
<br />Treatment Guarantee FHA Form 2052.
<br />3. SUBDIVISION REQUIREMENTS: —Comply with Requirements
<br />No. from Report dated
<br />for
<br />4. BUILDER'S WARRANTY: —The builder shall execute FIIA Form
<br />O 2544, Dullder'r 1Vntranly.
<br />5. PROPERTY INSPECTIONS: —A notice of construction statue
<br />shall be given by Form 2289X, letter or telephone at the time Indi-
<br />cated below:
<br />(a.) ALL rROrOSF.D CONSTRUCTION CASES:
<br />(1.) Q Al lenst two work dnye before "brglnning of
<br />conslructlon,"
<br />(2.) When the building Is en1nerd, nlruclund fnuning
<br />completely Exposed and roughing to of plumbing,
<br />healing and electrical work Installed and visible.
<br />(3.) When construction completed and properly ready
<br />for occupancy.
<br />(b.I REPAIRS: Notify FIIA upon completion of required
<br />repairs.
<br />(e.) Q CERTIFICATE OF COMPLETION: A certificate
<br />staling that the mortgagee has examined the proposed
<br />or required repairs and that they hove been snllsfnc.
<br />lorily completed will be accepted,
<br />6. VA INSPECTIONS: —Furnish a copy of a clear VA final report.
<br />M
<br />7. ASSURANCE OF COMPLETION: —If the required reports cannot be
<br />Q completed prior to submission of closing papers,n Form 23n0 escrow
<br />In the amount oft (or such addlllonal manual
<br />on the lender desires) may ha c,Inbllslmd no, the terms to nnnrr rom-
<br />plellau.
<br />8. SY.W.RII'S A(MUCAIENT Atli) I:BCIto%V FOIL INISTINti 1'llrl'1111-
<br />❑ TIES FINANCED UNDER SECTION 235 - Secdan SIR.
<br />This commitment Is Issued on the eondlllon that If the mortgage Is to
<br />be insured under Section 235, the seller will execute an agreement In
<br />reimburse HOT) for expenses Incurred In repairing structural or other
<br />defects with respect to the property being sold. The form of agreement
<br />shall be prescribed by the Secretary and a seller who Is not the occupant
<br />of the property wild deposit O percent of the sales price In escrow with
<br />One mortgagee In accordance with the Items of the agreement.
<br />9. SECTION223
<br />Q This Commitment Is Issued under SMlon_ Pnnnwnt to Sec
<br />tint 223e.
<br />10. CODE ENFORCEMENT.
<br />Q Submit a statement from public Authority that the sub)tal property
<br />meets Code Requirements.
<br />IL III:QUlltlal [J{Il'I'I FIUA'1'IUN3.
<br />Q I'lecldrtl Q lleallag L] iloonng 0Plumbing
<br />12. EXPIRATION DATE: — The Total Value stated above Is based on
<br />Veterans Adminldrntlon CenNcale of Reasonable Value, case
<br />number , dated
<br />Regnrdless of General Commitment Condition Number 3, above, this
<br />commitment expires on
<br />f+t gesspedal eondlllo_ns/ o. T/ /' \1 below or on
<br />attached sheet. )
<br />The mOxltnPln 1D""„•,' ! I) d 11�'P!„rr.,1 1RIRI;Y
<br />RlBribG"'3f pc.:' �/nl c6;•,'.:iill,
<br />FHA Fam 3476 is
<br />
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