Commercial Loan Application Form Page 2
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2Purchase or Refinance Information:
If Purchased:
If Refinanced:
Sales Price:
$____________________
Purchase Price:
$_____________________________
Other Financing:
$____________________
Date of Purchase:
_____________________________
Title Reference:
Cash Deposit:
$____________________
Book: _______________
Date: ___________________
Amount Requested:
$____________________
Page: ________________
Mortgagee: _______________________________________
Address:__________________________________________
Rate: _______ Term: ________ Orig. Amt. $:_________
Balance: $_________________________________________
Second Mortgage: $_________________________________
Mortgagee: _______________________________________
Application Deposit: The applicant shall deposit with the Bank $___________________, as a good faith deposit with the submission of this
loan application. If the Bank issues a commitment that is accepted by the applicant, the entire deposit shall be refunded on the closing of the
loan. If the Bank issues a commitment that is accepted by the applicant and the loan is not closed due to the fault of the applicant, the Bank will
retain the entire deposit. If the Bank does not issue a commitment, or if after the issuance of a commitment the applicant does not accept the
commitment, or after accepting the commitment the loan does not close because of a reason other than the applicant's fault, then the Bank will
refund a portion of the deposit to the applicant on request, deducting an amount sufficient to reimburse the Bank for expenses incurred in
reviewing the loan application and preparing for a loan closing. Reimbursable expenses shall include without limitation, costs for appraisals
and credit reports and fees of engineers, architects, attorneys and other professionals but shall not include internal expenses for the Bank
employees and other overhead costs. In addition, any third party costs to the Bank prior to commitment stage of transaction shall also be
deductible from the deposit.
Representations and Warranties: The information contained in this application is provided to induce you to extend or to continue the
extension of credit of the undersigned or to others upon the guarantee of the undersigned. The undersigned acknowledge and understand that
you are relying on the information provided herein in deciding to grant or continue credit or to accept a guarantee thereof. Each of the
undersigned represents, warrants and certifies that the information provided herein is true, correct and complete. Each of the undersigned
agrees to notify you immediately and in writing of any change in name, address, or employment and of any material adverse change in any of
the information contained in this application. If the undersigned fails to notify you as required above, or if any of the information herein should
prove to be inaccurate or incomplete in any material respect, you may declare the indebtedness of the undersigned or the indebtedness
guaranteed by the undersigned, as the case may be, immediately due and payable. You are authorized to make all inquires you deem necessary
to verify the accuracy of the information contained herein and to determine the credit-worthiness of the undersigned. The undersigned
authorize any person or consumer-reporting agency to give you any information it may have on the undersigned. Each of the undersigned
authorizes you to answer questions about your credit experience with the undersigned. As long as any obligation or guarantee of the
undersigned to you is outstanding, the undersigned shall supply annually an updated financial statement. This personal financial statement and
any other financial or other information that the undersigned gives you shall be your property.
______________________________________
____________________
Borrower
Date
______________________________________
____________________
Borrower
Date
2
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