Laserfiche WebLink
III <br /> <br />Bank prepares and forwards loan documentation at <br />the interest rate previously determined and advises <br />locality of the interest subsidy due. Payments on <br />the loan shall be equal monthly installments. <br /> <br />The first payment is due thirty (30) days from <br /> <br />Note date. <br /> <br />Locality obtains borrower's signature on loan <br />documentation, arranges for notarial acknowledgments <br />and returns all documents to Bank. <br /> <br />Bank forwards to the Locality loan proceeds in <br />the form of one or more cashier's checks payable to <br />the borrower. If more than one check is necessary, <br />the Locality will inform the Bank of the number <br />of checks to be issued. <br /> <br />Completion Certificate <br /> <br />Locality makes a final inspection. <br /> <br />Locality executes the completion certification. <br /> <br /> (i) The certificate must be properly filled in and <br /> <br /> signed by both the customer and the contractors. <br /> It must be dated the day it is signed by the <br /> borrowers, and borrowers must sign it only <br /> AFTER work has been completed. The completion <br /> certificate shall be accompanied by the necessary <br /> lien releases. <br /> <br /> (ii) Locality forwards the completed and signed <br /> completion certificate to Bank. <br /> <br /> -4- <br /> <br /> <br />