ACQUISITION & DEVELOPMENT CHECKLIST

I. Project Information:

• Project Description
• Address and legal description
• Location Map
• Aerial Photo
• Site Plan
• Renderings and or Architectural Drawings
• Plans and Specifications
• Proforma
• Market Analysis
• Cash Flow and Income Analysis
• Third Party Real Estate Analysis
• Executive Summary

II. Project Supporting Information:

• Cost Analysis Worksheet
• Appraisal ( 120 Days or less)
• Survey (60 Days or less)
• Subdivision Plat
• Purchase Contract
• Senior Financing Commitment Letter (If Any)
• Engineer's Certification Letter
• Jurisdictional Approval Letters
  a) Zoning letter
  b) Utility letter
  c) Subdivision approval letter
• Phase I or Phase II (if required by lender) Environmental Studies
• Copy of building permit
• Traffic Studies
• Title Insurance Commitment Letter (provided by Seller)
• General Liability Insurance Policy
• Builders Risk Insurance Policy
• Wind Insurance Policy
• Flood Insurance
• Workmen's Compensation Insurance Policy
• LLC's Operating Agreement

III. Developer’s Company Information:

• Company History
• Resume on Principals
• Company's Organizational Documents
• Company's Tax I.D.
• Copy of driver license
• General Contractor Information:
  a) Company Resume
  b) Principals Resume
  c) General Contractor License. If G.C. is other than Borrower, provides a copy of construction agreement with Borrower and G.C.
  d) Tax I.D. Number
  e) Copy of driver license
  f) Current Inventory and Past Inventory
  g) Sub-Contractor List
  h) Suppliers List
  i) Past Customer List

IV. Developer’s Financial Information:

• Personal Tax Returns (last 2 years)
• Business Tax Returns (last 2 years)
• Personal and Business Bank Statements (last 2 months)
• Signed Credit Authorization:
  a) Personal
  b) Business
• Personal Credit Report
• Business Credit Report
• Personal Financial Statement
• Business Financial Statement
• A list of existing real estate debt including creditor name (with a phone number, contact person, and loan number), loan number and maturity date pertaining to each of the real estate assets.
• Personal Guarantors

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