A Florida Amended and Restated Multifamily Promissory Note is a legal document used to document a loan agreement between a lender and borrower. This document is used when the terms of a loan are amended and/or restated. It typically includes the original loan amount, interest rate, repayment terms, due dates, and other pertinent information. The note is secured by a lien on the property that is the subject of the loan and is typically signed by both parties. There are three types of Florida Amended and Restated Multifamily Promissory Notes: Standard, Simultaneous Close, and Bridge. A Standard Florida Amended and Restated Multifamily Promissory Note is the most common type and is used when an existing loan is being amended and/or restated to reflect new terms or conditions. A Simultaneous Close Florida Amended and Restated Multifamily Promissory Note is used when a new loan is being taken out to replace an existing loan. A Bridge Florida Amended and Restated Multifamily Promissory Note is used when a borrower needs to borrow additional funds to bridge the gap between the existing loan and the new loan.
Florida Amended and Restated Multifamily Promissory Note
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