Additional fees may be collected if completion of work is delayed more than five inspections are required travel to the site requires excess mileage Please notify us of any significant design or material changes during construction. You are expected to pay all change orders exceeding the original budgeted amounts. If you request, we may reimburse you for these change orders provided excess loan funds are available when the project is finished. We will monitor the overall project, as well as the disbursement schedule, to make sure there have been no such variances that could adversely affect the final value of your property. If there is an error in the building placement, it will have to be corrected.
Mistakes can be expensive.
The Contractor must furnish a signed lien waiver as disbursements are made. This assures us that all interested parties have been paid. Loan Closing Please schedule your loan closing 72 hours in advance to permit the preparation of your loan documents. At your request, we will review the documents with you before the closing and make sure you are prepared for all closing costs. This is required for no less than the mortgage amount, with an acceptable construction clause.