Get Working Capital Reserve And Escrow Account Agreement

Completing the Working Capital Reserve and Escrow Account Agreement online can seem daunting, but this guide will help you navigate through each section with ease. Follow these steps to ensure that you fill out the necessary fields accurately and effectively.

Follow the steps to complete your agreement online.

1. Click ‘Get Form’ button to obtain the form and open it in the editor.
2. Begin filling out the effective date at the top of the form. Enter the exact day and month when the agreement goes into effect.
3. Complete the Owner section by entering the name and type of entity that holds the legal title to the property, as well as the required development number.
4. In the section referring to the loan amount, input the total dollar amount of the requested loan for financing the development. Ensure it is in the correct format, such as '_____ and No/100 Dollars'.
5. Fill in the section that requires details about the type of loan note and building loan agreement, using the specific names as referenced in your contract.
6. For the cash deposit or letter of credit section, specify the amount as required and ensure it constitutes three percent of the initial loan amount, minus the development cost escrow.
7. Review the terms outlining the usage of the funds deposited, paying careful attention to stipulations regarding operating expenses and any defaults that might occur.
8. Finalize the agreement by signing and obtaining the required signatures from all parties involved. Include the date signed.
9. Once all sections are completed, save changes, download, print, or share the completed form as needed.

Complete your Working Capital Reserve and Escrow Account Agreement online today!