Loan Closing

Loan Closing. Based upon the terms and conditions established by MDA, MDA will prepare all security and loan documents, including but not limited to, the Loan Agreement and Promissory Note, (collectively “Loan Documents”). Prior to disbursement of any funds, all Loan Documents must be fully executed. At the time of the closing, the Borrower will be responsible for providing to MDA a one percent (1%) closing/servicing fee and the cost of Energy Analysis. The Cost of the Energy Analysis for the borrower will be capped at $3,500. Additional cost, if applicable, will be the responsibility of MDA. The Borrower will also be responsible for paying for all costs associated with the closing of the loan, including searches and filing fees.