This is a commercial/multifamily course.
Beyond the promissory note and the security instrument, there are several other loan documents that are significant in the documentation of a commercial/multifamily mortgage loan and the secured property. Documents such as loan agreements, modifications, leasing agreements, monetary agreements, and other property documents set forth specific requirements for use of the property, funds, tenant spaces, and more.
CMF Loan File and Supporting Documents begins with a look at two types of documents which supplement or modify the security instrument or note: the loan agreement and modification agreement. (There are several types of modification documents; this course covers the supplement agreement (allonge), the consolidation agreement, the forbearance agreement, and the restatement agreement.) Next, the course describes some of the more common leasing agreements, including assignments of leases and rents, single tenant and anchor tenant leases, ground leases, net leases, and SNDAs. The course then looks at monetary agreements that may be found in the loan file, including escrow agreements, guaranty agreements, indemnity agreements, cash management agreements, and letters of credit. The course ends with a brief look at property documents, including common property agreements, (management agreements, reciprocal easement agreements, and operating agreements), UCC filing statements, and insurance policies.
Seat time approximately one (1) hour.