This loan application (this “Application”) is designed to
be completed by the authorized signatory(s) on behalf of
the borrower entity (“Borrower”).
Borrower is an applicant for the loan requested from
the lender (“Lender”) pursuant to this Application (the
“Loan”). Completion and/or submission of this
Application is not to be considered a loan commitment
from the Lender or the Lender’s broker for the
Loan.
Borrower hereby warrants and represents to Lender and
Lender’s actual or potential agents, brokers, processors,
attorneys, insurers, servicers, successors and assigns
(collectively “Representatives”) that (i) it wishes to
continue with this Application, (ii) the Loan is for
business and commercial purposes and not personal, family
or household or other noncommercial or farming or
agricultural purposes, (iii) the Loan proceeds are
intended to be used for business and commercial purposes
only and not for personal, family or household or other
noncommercial or farming or agricultural purposes, (iv)
the property(s) securing the Loan is not currently
occupied by or planned to be occupied by any of Borrower’s
members or such members’ family members as a primary
residence or vacation home and none of Borrower’s members
or such members’ family members shall occupy or reside in
the property(s) securing the Loan during the term of the
Loan, (v) the Loan will be secured by a mortgage or deed
of trust on the property(s) described in this Application;
(vi) the information provided in this Application is true
and correct as of the date hereof and any intentional or
negligent misrepresentation of this information contained
in this Application may result in civil or criminal
liability to any person who may suffer any loss due to
reliance upon any misrepresentation made on this
Application; (vii) the property(s) securing the Loan will
not be used for any illegal or prohibited purpose or use,
(viii) all statements made in this Application are made
for the purpose of obtaining a commercial and business
purpose loan; (ix) the Lender and its Representatives may
retain the original and/or an electronic record of this
Application, whether or not the Loan is approved; (x) the
Lender and its Representatives may continuously rely on
the information contained in this Application, and
Borrower is obligated to amend and/or supplement the
information provided in this application if any of the
material facts that Borrower has represented herein should
change prior to closing of the Loan; (xi) in the event
that any payments on the Loan become delinquent, the
Lender, its servicers, successors or assigns may, in
addition to any other rights and remedies that it may have
relating to such delinquency, report Borrower’s name and
account information to one or more consumer reporting
agencies; (xii) ownership of the Loan and/or
administration of the Loan account may be transferred with
such notice as may be required by law; and (xiii) neither
Lender nor its agents, brokers, insurers, servicers,
successors or assigns has made any representation or
warranty, express or implied, to Borrower regarding the
property(s) or the condition or value of the property(s).
Acknowledgement.
The undersigned hereby acknowledges that any owner of the
Loan, its servicers, successors and assigns, may verify or
reverify any information contained in this Application or
obtain any information or data relating to the Loan, for
any legitimate business purpose through any source,
including a consumer reporting agency chosen by Lender. In
addition, each of the undersigned represents to Lender
that he/she is authorized to sign this Application on
behalf of Borrower.
My transmission of this Application as an "electronic
record" containing my "electronic signature," as those
terms are defined in applicable federal and/or state laws
(excluding audio and video recordings), or my facsimile
transmission of this Application containing a facsimile of
my signature, shall be as effective, enforceable and valid
as if a paper version of this Application were delivered
containing my original written signature.