Chapter IX Loan Mechanics After Closing

Needs Prior to the First Advance

Needs for all Construction Advances

The Application and Certification for Payment

The Continuation Sheet

The Lien Waiver

The Borrower Affidavit

Inspecting Engineer Report

Reviewing the Requisition

Hard Cost and Soft Cost Advances

Parties with Interests in the Loan

Continuation of Title

Retainage

Materials Stored On and Off Site

Overfunding Vs Underfunding

Keeping the Loan in Balance

The Requisition Cycle-A Continuing One