A Construction Loan Escrow Agreement is a legally binding contract between a lender and a borrower that outlines the terms of the loan for a construction project. The agreement typically requires the borrower to deposit funds into an escrow account to be used exclusively for the construction project and is typically held by a third-party escrow agent. The funds are released from the escrow account in accordance with the terms of the agreement as the project progresses. The two main types of Construction Loan Escrow Agreements are a Disbursement Agreement, which outlines the process for releasing funds from the escrow account, and a Security Agreement, which outlines the terms of the loan and the borrower's obligation to repay the funds. Other types of Construction Loan Escrow Agreements may include a Financial Statement Agreement, which outlines the borrower's financial position, and a Loan Document Agreement, which outlines the terms of the loan document.
Construction Loan Escrow Agreement
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How to fill out Construction Loan Escrow Agreement?
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