OWHLF MF Loan Closing-Modification Checklist (DHV) .xlsx

	A	B	C	D	E	H	K	N	O
1	REQUIRED DOCUMENTATION NEEDED PRIOR TO LOAN CLOSING OR LOAN MODIFICATION							Document status	File link(s)

2	OLENE WALKER HOUSING LOAN FUND
3	MULTIFAMILY RENTAL PROJECTS
4	The following items are required to be submitted prior to OWHLF loan closing or modification. Individual items are applicable depending on type of loan, source(s) of OWHLF funds, and/or other funds. If an item is not applicable to your project, please indicate by checking the appropriate box. Please be prepared with all required complete legal documents prior to requesting OWHLF loan documents, as incomplete documentation will delay your loan closing. A minimum of two (2) weeks must be allowed for the OWHLF attorney to review documentation and prepare finalized OWHLF loan documents before the loan closing should be scheduled. Please submit the completed information in an organized manner to Angie Ausmus (ahays1@utah.gov).
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9	Document/category name here
10	1				Yes	No	N/A
11		Planned use of OWHLF funds as part of project funding:		Construction/Rehabilitation
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13		Loan Consolidation/Refinancing
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15		Loan Modification
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17		Land/Building Acquisition
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19	Document name here
20	2	Current (within past 30 days) preliminary title report - indicate the phone number of the contact person, as the title company must be notified that OWHLF will be recording a Deed of Trust, a Deed Restriction, and a Request for Notice			Yes	No	N/A
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23		Items required to be included in report:	a) List OWHLF as proposed insured
24			b) Standard commercial endorsements - ALTA 8.2, ALTA 9, and ALTA 22
25			c) Must list the OWHLF loan amount(s)
26		Title Company Name:
27		Title Company Address:
28		Title Company Contact Person Phone & Email:
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30	Document name here
31	3	Copy of FINAL Operating Agreement between Owner and Investor (required for all LIHTC projects)			Yes	No	N/A
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33		a) If requesting an OWHLF surplus cash flow loan or other modification, please submit a revised and executed Operating Agreement showing the payment "waterfall" proposed for all debt on the property
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35		b) Submit a signature block and supporting documents (executed resolution, organizational documents, etc.) verifying the authority for the organizational individual who will execute on behalf of the loan for the person or entity
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37	Document name here
38	4	Property Management Company after project completion:
39	4	Property Management Company after project completion:
40	Document name here
41	5	Copy of FINAL Management Agreement between Owner and Management Company			Yes	No	N/A
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44	Document name here
45	6	Construction loan lender:	Date of proposed loan closing:
46	6	Construction loan lender:	Date of proposed loan closing:
47	Document name here
48	7	Permanent loan lender(s), if applicable:					N/A
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51		Contact person name:
52		Phone:
53		Email:
54		Date of proposed loan closing:
55	Document name here
56	8	Copy of FINAL Subordination Agreement from other lender(s)			Yes	No	N/A
57	8	Copy of FINAL Subordination Agreement from other lender(s)
58	Document name here
59	9	Copy of FINAL Syndicator Purchase Agreement (LIHTC projects only)			Yes	No	N/A
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61		Investor Member Name:
62		Investor Member Address:
63		Investor Member Contact Person/Phone/Email:
64	Document name here
65	10	Copies of commitment letters from all other lenders for the project. If any funding is from another government entity and/or participating jurisdiction (city or county), the letter must specify if source of funds are Federal or state/local in nature			Yes	No	N/A
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67	Document name here
68	11	Copy of final construction budget, with construction contract and estimated construction timeline. If only a OWHLF loan modification, mark "N/A"			Yes	No	N/A
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71	Document name here
72	12	Completed Contractor Qualification Checklist (see attached Exhibit C). If only an OWHLF loan modification, mark "N/A"			Yes	No	N/A
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75	Document name here
76	13	Copy of executed construction contract between the developer and the construction general contractor			Yes	No	N/A
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79	Document name here
80	14	Copy of appraisal - no older than 6 months; not required if previously submitted with application. For new construction, provide a land appraisal supporting land purchase price			Yes	No	N/A
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83	Document name here
84	15	If loan closing takes place more than 12 months after OWHLF award date, an updated project proforma must be submitted			Yes	No	N/A
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87	Document name here
88	16	Copy of original Federal or State LIHTC award letter(s) If no LIHTC was awarded, or if only an OWHLF loan modification, mark "N/A"			Yes	No	N/A
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91	17	Proposed loan closing date (2 weeks notice required):
92	17	Proposed loan closing date (2 weeks notice required):
93	Legal Counsel Information
94	18	Firm Name:
95		Contact Name:
96		Address:
97		Phone/Email Address:
98	Document name here
99	19	If your project was awarded Federal (HOME or HTF) funds, an Environmental Review must be completed and an Authority to Use Grant Funds (AUGF) must be completed before any funds can be Committed.			Yes	No	N/A
100	19