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"..o.r N.. 111A
<br /> U.S.DEPAR IMEN i 07 NDVSIND AND uNHAh OF VELOPnk NI CASE
<br /> rEOERAL HOUSING ADYINni RATION NO.
<br /> PROPERTY ADDRESS
<br /> CONDITIONAL COMMITMENT ,. .. „ • .,�, .
<br /> FOR MORTGAGE INSURANCE UNDER
<br /> THE NATIONAL HOUSING ACT
<br /> I
<br /> SEC.707161 ALJ SEC.
<br /> {7.MONTHLY EXPENSE ESTIMATE
<br /> MORTGAGEE ESTIMATED VALUE �(-/ Fua Int . . .. . . S
<br /> OF PROPERTY . . . $_22. lam . . . . .. . S
<br /> COMMIRED FOP INSURANCE Condo.Com.E.p. $
<br /> • Mwn.AR.Polls $
<br /> _ Heal 8 Utilities $
<br /> COMMITMENT ESTIMATED
<br /> luued: 19 CLOSING
<br /> L.piros: 19 - COST. . . .S 11
<br /> Ci EXISTING ED PROPOSED
<br /> COMMITMENT Tx)tiAS Mf.%.MORT.AMLS NO.MOS-MAX.INTEREST - •% (See Grit. Cond.-J)
<br /> mpto.od
<br /> lie tail Areo ') SV.Ft
<br /> INFORMATION
<br /> i'lne e%limma of fire Insurance, ooze, muimmnance/repairs, heal/Atililles crud closing costs nm furnished for mortgagee's and nsongugai s
<br /> fnfnrmvlinn. They may be used to prepare FRA Form 2000,Application for Credit Approval,when a firm commitment Is deslad.
<br /> GENERAL COMMITMENT CONDITIONS
<br /> MAXIMUM NIGH,GAGE.AMOUNT AND TERMS•
<br /> (n)OCCUPANTMORTGAGQRS:—The mortgage amount unit term 3. CONVAITIVIEN TF.IENP—Thi commitment%hall expire SIX h%Ci JTHS
<br /> set forth in line beaJlnr �:c The maximum approved for this prop- from the Issue dale in Ile rase of an EXISTING HOUSE or ONE
<br /> erly a&s0ming a sathlactory owner..occupant morlgagor. Tile YEAR from its dole In the case o! PROPOSF.I7 CONSTRUCTION.
<br /> mnximun, amount unit Term In the heading may be changed depend- FII a laurrrose of cases determining ad¢n "EXISTING'
<br /> c ISTINGCnt erptr iO Accord-
<br /> ingly,
<br /> Ing upon FHA's rating of the borrower,his Income and credit. /' / /
<br /> a hoarse, even llrough stiff under construction, nooy be tlassi•
<br /> (b)NONOCCUPANT MORTGAGORS: —lithe mortgagor dues not fled ns an e.sisffng Rouse if it was roof approved by FIIA or VA prior
<br /> occupy Ibe house, the law limits the maximum mortgage Amount l0 lothr beginning of tonslruclion.)
<br /> not to exceed 85% of the maximum amount available to an eligi-
<br /> ble mortgagor who will occupy One house (85% of value It See-
<br /> 201(l) or 221). In the case of nonoccupant mortgagors, the Mn
<br /> commitment when Issued will reduce the mortgage amount tine. terms 4. CANCELLATION: — This commitment may be cancelled after 60
<br /> below That slated In the heading. day, frothe doh: or issue,," it construction has not started, onl
<br /> m eu
<br /> the mortgagee has disbursed loan proceeds.
<br /> (c)COMMITMENT CHANGES:—The Commissioner may, upon re,
<br /> quest of the approved mortgagee change Inc mortgage amount and
<br /> term act forth In One heading. 11 the application Is accompanied by
<br /> a VA CRV, changes will be made only if VA Issues an amendment
<br /> I
<br /> G. :ROPERTY STANDARDS: —All eonslraeLlon,rcpAire, or alterations
<br /> 2. Issued upon
<br /> receipt
<br /> of
<br /> p firm on for re i to inure n)aaa will be proposed in the appllcAlion or on One drawings and specifications
<br /> Issued upon receipt of an Application for Credit Approval, FIIA Fomt Warned herewith, shall equal or excited Use FHA hlin)mum Property
<br /> 2000, executed by an approved mortgagee and a borrower satisfactory Sta"clards.
<br /> to tine Commissioner.
<br /> SPECIFIC COMMITMENT CONDITIONS (.ti)pLsobte when Flashed) r
<br /> 1. HEALTH AUTHORITY APPROVAL:—Execution of Fonn 2673 by 7. ASSU%ANCE OF COMPLETION:—If the required repairs cannot be
<br /> ❑ the Health Authority indicating approval of t)m water supply and/ ❑ completed peter to submission of closing popers,n Form 2300 escrow
<br /> or sewage disposal Installation is required. (Approval by ichor In Ine amount of$ (or such additional amount
<br /> or Ileallh Authority Form may be used.) as lilt lender desires) may be established as the means to $&sure conk-
<br /> PiAlon.
<br /> 2. TERIMIT%COATROLt—(a)EXISTING HOUSE•FurnishccrLillcale 8. SLLLER'S AGREEMENT AND ESCROW FOR EXISTING rROPF.R-
<br /> ❑ from a recognized Ismailia control operator that the house shows ❑ TIES FINANCED UNDER SECTION 235•Seaton 518.
<br /> no evidence of an active Termite infestation. (b) PROPOSED CON-
<br /> STRUCTION This commitment is issued on the condition that R the mortgage Is to
<br /> • Furnish original and two copies of Termite$OR
<br /> Treatment Guarantee FHA Form 2052. b. Insured under Section 235, lilt ,eller will "Wait an agreemenl la
<br /> reln.burm 11 UD for expenses Incurred In repairing structural or other
<br /> defects with respect to the property being sold. The torn of agreement
<br /> 3. SUBDIVISION REQUIREMENTS:—Comply with Requirements snag be prescribed by the Secretary and a seller who Is not the occupant
<br /> ❑ No. of the property will deposit 5 percent nr the sales price in escrow with
<br /> from Report dated —for the mutgaga In accordance with the terms of the agreement
<br /> Subdivision.
<br /> 4. BUILDER'S WARRANTY:—The builder shall execute FIIA Form U• SECTION 223
<br /> ❑ 2544,Builder&Warranty. ❑This Commitment Is issued under Section IVnuu.I la Sac•
<br /> don 223$.
<br /> 8. PROPERTY INSPECTIONS:—A notice of construction status
<br /> shall be given by Form 2289X, letter or telephone at the time Inds- 10. CODE ENFORCEMENT.
<br /> filled below: 0 Submit a sm tment from Public Authority that the subject property
<br /> (a.) ALL PROPOSED CONSTRUCTION CASKS: mea Code Requirements. -
<br /> (I.) ❑ At len%t two work days before, 'bleginning of
<br /> construction.' 21. REQUIRED CEHTIFICATIUNS.
<br /> •.,) When the building Is enclmvd, structural fromhng ❑ Electrical ❑ Healing Roofing Plumbing
<br /> completely exposed and roughing-in of plumbing,
<br /> heating and electrical work Installed and visible. 12 EXPIRATION DATE; — The Total Value stated above is based on
<br /> (3,) ❑ When construction completed and properly ready � Veterans Administration Certificate or Reasonable Value, case
<br /> for occupancy.
<br /> ted—
<br /> (h,) r7 REPAIRS: Notify FIIA upon completion of required number ConRegardlea of General Commitment Condition Nurt.ber 3, above, thisrepalrs
<br /> (c.) it CERTIFICATE OF CONIPLETION: A certlfcute commitment expires an
<br /> staling that the mortgagee has examined tine pcopmed
<br /> or required repaln and that they have been salidac-
<br /> Iurlly completed will he azwpled, \,1t1)I 6e,special cn`dlfons No.L
<br /> .)_T i f =
<br /> G. VA INSPECTIONS;—FUrnhlt,a eoPY of$cfar VA Mal repos f below or on
<br /> ❑ '•,'
<br /> attached,heat.
<br /> \1 1
<br /> %
<br />
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