Supplement To Building Loan Agreement printable pdf download

U.S. Department of Housing

OMB Approval No. 2502-0598

Supplement To

and Urban Development

(Exp. 06/30/2017)

Building Loan Agreement

Office of Housing

(

Add to Building Loan Agreement When Borrower Acts As Its Own General Contractor)

Public Reporting Burden for this collection of information is estimated to average 0.75 hours per response, including the

time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and

completing and reviewing the collection of information. Response to this request for information is required in order to

receive the benefits to be derived. This agency may not collect this information, and you are not required to complete this

form unless it displays a currently valid OMB control number. While no assurance of confidentiality is pledged to

respondents, HUD generally discloses this data only in response to a Freedom of Information Act request.

HUD Project Number:

Project Name:

This Supplement to Building Loan Agreement shall be attached to and incorporated into

that certain Building Loan Agreement (HUD-92441M) of even date herewith.

(25)

In consideration of HUD consenting to authorize Borrower to act as its own

General Contractor, Borrower agrees to the following:

(a)

All references herein (and in any other documents except the Payment

Bond, relating to the construction of the Project) to “Contractor” or “General Contractor”

shall mean Borrower identified in the Building Loan Agreement. All references to

subcontractors shall mean all persons who contract with Borrower or others in

connection with the construction of the Project.

(b)

All references to “Contract” or “Construction Contract” shall be interpreted

to refer to this Building Loan Agreement and the Drawings and Specifications identified

in Paragraph 2 of the Building Loan Agreement, which Specifications include the

General Conditions of the Contract for Construction (AIA Document A201) (“General

Conditions”), and the Supplementary Conditions of the Contract for Construction

(HUD-92554M) (“HUD Supplementary Conditions”). If any of the provisions of this

Supplement to Building Loan Agreement or the HUD Supplementary Conditions conflict

with the terms contained in the General Conditions, the provisions of this Supplement to

Building Loan Agreement and the HUD Supplementary Conditions shall control.

(c)

Borrower shall execute all agreements and certifications that HUD

requires a General Contractor to execute pursuant to Program Obligations.

(d)

The work, which is to be done in accordance with the Drawings and

Specifications, shall be commenced within thirty (30) days from the date of this Building

Loan Agreement.

(e)

Borrower shall, at all times during construction, keep posted in a

conspicuous place on the Project site a legible copy of the applicable wage

determination published by the Secretary of Labor with respect to this Project. In

addition, Borrower shall incorporate into each subcontract a copy of the Supplementary

Conditions of the Contract for Construction (HUD-92554M) and the applicable wage

determination. Any such contract (i) shall include the agreement of the subcontractor to

Previous editions are obsolete;

Supplement To Building Loan

HUD-92441M-SUPP (06/14)

Replaces form HUD-92441 (11/00)

Agreement

Supplement To Building Loan Agreement

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