Application Checklist

• Company
• Address
• Phone
• Cell Phone

Borrower name (as it appears in the formation documents). What type of entity is the borrower (e.g. corporation, llc, etc.)

Please enter the following information for all borrowers with greater than 25% interest in the property: approx. net worth (pre-loan), approx. liquidity (pre-loan), borrower's approximate credit rating (FICO score). Has this borrower ever declared bankruptcy? If yes, please explain.

Is a member of the borrowing organization a felon? If yes, please explain. Is there pending litigation, criminal connection, foreclosures, or bankrupticies? If yes, please explain.

Provide a brief description of the relevant experience of each of the principals. Provide a representative list of previous or current commercial real estate projects.

Provide three years of financial statements for borrowing entity or principals. Provide three years of tax returns for the organization and principals.

Provide pro-forma income statement with projected rents, other income and expense items at stabilization.

Provide total cost of project. The following is a guideline list of items for the Project Cost:

Provide the total cost of the acqusition (including: purchase price, commissions and other closing costs.)

Provide a schedule showing the planned build out costs and sales by quarter for the duration of the project.

What kind of financing do you want: long term fixed rate (> 5 yrs)(these have big prepayment penalties), short term fixed rate, variable rate, fixed to variable, interest only? Required amount. Desired term. Desired amortization? Non-recourse? Is this a cash out loan? If so, please explain use of cash.

If there an existing loan on the property? If so, please provide: lender, loan amount, due date, prepayment Penalty (if any), interest rate, end of term, payment. Has the existing lender been approached about refinancing their note? If so, what was their response? Note: Check to see if there is a demand notice period and conditions (some lenders require a 90 day written notice and will charge a fee if you request the loan closed earlier).

Provide a brief description of the location (this is often found in an appraisal). Include access information (arterials, mass transit and freeway interchanges). Define the market area (commercial business district (CBD), suburban park, freestanding) and the distance from the CBD center. What kinds of properties are in the surrounding area.

Provide a brief description of comparable/competing properties including rents, vacancy rates, amenities, etc. (This can often be found in a recent appraisal).

Gather information on the local economic environment and adjacent property uses, condition, and trend.

Provide photos (digital preferred) of property exterior (and interior if available).

Provide:

• Lot size
• street access description
• lot terrain description
• number of parking places
• parkingfacilities description

Provide a copy of the purchase contract and all amendments. If the contract is not complete provide a copy of the Letter of Intent.

Provide a copy of the most recent appraisal, if available.

Provide a resume and list of projects completed by both the architect and general contractor

Provide latest environmental status report, if available (especially if there has been an issue or a cleanup).

Provide the investment sales package as it will contain much of the information required to create the loan request.

Is the project older than 1990 or located on or near an earthquake fault (CA, WA, OR)? If so, is the building designed for earthquake safety?

Is the property on a ground lease? If yes, please explain:

Provide a list of the units that have been presold or pre-leased with the sale/lease price.

Are there subsidized units? If yes, how many units? Indicate subsidized units on rent roll.