Construction Loan Affidavit And Agreement Template printable pdf download

Construction Loan Affidavit And Agreement Template

Construction loan affidavit and agreement.

State of _________

County of _________

_________, being first duly sworn, deposes and says:

1. That the person or corporation shown below owns that certain lot of land described as lot _________ in

block _________, section _________, of _________ subdivision, as shown on map recorded in book of maps

_________, page _________, in the _________ County registry and more particularly described in a deed of

trust/mortgage from the owner to _________, trustee for _________("lender"), recorded on _________[date],

in the _________ County registry.

2. For the purpose of inducing lender to make disbursement of the proceeds of that loan, and inducing the

_________ Title Insurance Company to issue its construction loan policy without exception to possible unfiled

mechanics' and materialmen's liens and with knowledge that the lender and title insurance company will and are

relying upon the statements and representations here made in paying out the proceeds of such loan and issuing

of such title insurance, the undersigned says that no labor has been performed on the preparation of the premises

described in paragraph 1 of this agreement and in the above-mentioned deed of trust/mortgage nor has any labor

been performed towards the erection of any structure on the described premises and that no materials, supplies or

equipment of any kind that might be used in a structure have been delivered to or placed on the land as of the

time of the recordation of the above-mentioned deed of trust/mortgage.

3. That the undersigned agrees to indemnify and hold the lender and title insurance company harmless of and

from any and all loss, cost, damage and expense of every kind, including attorney's fees, which the lender or title

insurance company shall or may suffer or incur or become liable for under its policy or policies directly or

indirectly, out of the improvements, repairs or other construction on the property described in paragraph 1 above,

or on account of any such mechanics' or materialmen's lien or liens or claim or claims, or in connection with

enforcement of their rights under this agreement.

[Signatures]

[Acknowledgment]

Construction Loan Affidavit And Agreement Template