VA Affirmative Mechanic's Lien Coverage Request for Approval (Construction Loan) 1995

STEWART TITLE GUARANTY COMPANY

AFFIRMATIVE MECHANIC'S LIEN COVERAGE

REQUEST FOR APPROVAL - VIRGINIA

(CONSTRUCTION LOAN)

YOUR FAX #: ____________________

Date: __________________ Agent: ___________________________________________

Legal/County: ____________________________________________________________

Lender: ______________________________________ Loan Amount: $______________

Borrower: _______________________________________________________________

Guarantors: ______________________________________________________________

_______________________________________________________________________

General Contractor: _______________________________________________________

WILL SITE BE MLA POSTED? ____________________

If So, You Need Only to Submit the Lenders Loan Commitment with This Request.

If The Site Is NOT MLA Posted You Must Submit The Following To STGC Prior To Closing:

1) Financials for borrower (loan application is acceptable)/guarantors/general contractor

2) Loan commitment/agreement

3) General contractor's contract

4) Draw schedule

5) Construction cost breakdown (jobs/subs/amounts)

6) List of subcontractors/suppliers with phone numbers

7) Is the subject property pre-sold? __________ (if so, retain contract in your file)

8) Is the subject property a spec? __________

9) Builder's history and current inventory/info on parent company (Inventory should include whether sold and/or unsold and respective lien encumbrances)

10) Judgment/lien search on general contractor and borrower

11) Name and phone number of contact at the lender

12) Title search

STEWART TITLE GUARANTY COMPANY

AFFIRMATIVE MECHANIC'S LIEN COVERAGE

REQUEST FOR APPROVAL - VIRGINIA

(OUTSALE)

YOUR FAX #: ____________________

Date: __________________ Agent: ___________________________________________

Legal/County: ____________________________________________________________

Lender: _________________________________________________________________

Loan Amount: $_______________________ Sales Price: $________________________

Owner/Seller: ____________________________________________________________

Borrower/Purchaser: _______________________________________________________

_______________________________________________________________________

General Contractor: _______________________________________________________

REQUIRED DOCUMENTATION PRIOR TO APPROVAL:

1) DID STEWART TITLE GUARANTY COMPANY INSURE THE CONSTRUCTION LOAN?

If so, through which agency? _____________________________________________

2) WAS SITE MECHANIC'S LIEN AGENT POSTED?

If so, who served as the MLA? ___________________________________________

IF SITE IS MLA POSTED, ALL YOU NEED TO SUBMIT IS THIS COMPLETED REQUEST FOR APPROVAL!

IF SITE IS NOT MLA POSTED, SUBMIT THE FOLLOWING WITH YOUR REQUEST FOR APPROVAL:

1) Financials for owner/seller/general contractor

2) List of Subcontractors/Suppliers (with phone numbers)

3) Construction Cost Breakdown