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The
undersigned specifically acknowledge(s) and agree(s) that: 1)The loan
requested by this application will be secured by a first mortgage or
deed of trust on the property described herein; (2)the property will
not be used for any illegal or prohibited purpose or use; (3)all statements
made in this application are for the purpose of obtaining the loan indicated
herein; (4)occupation of the property will be as indicated in the application;
(5)verification or reverification of any information contained in the
application may be made at any time by the Lender, its agents, successors
and assigns, either directly or through a reporting agency, from any
source names in this application, and the original copy of this application
will be retained by the Lender, even if the loan is not approved; (6)the
Lender, its agents, successors and assigns will rely on the information
contained in the application and I/we have a continuing obligation to
amend and/or supplement the information provided in this application
if any of the material facts which I/we have represented herein should
change prior to closing; (7)in the event my/our payments on the loan
indicated in this application become delinquent, the Lender, its agents,
successors and assigns may, in addition to all their other rights and
remedies, report my/our name(s) and account information to a credit
reporting agency; (8)ownership of the loan may be transferred to successor
or assign of the Lender without notice to me and/or the administration
of the loan account may be transferred to an agent, successor or assign
of the Lender with prior notice to me; (9)the Lender, its agents, successors
and assigns make no representation or warranties, expressed or implied,
to the Borrower(s) regarding the property, the condition of the property,
or the value of the property. Certification: I/We agree that the information
provided in this application is true and correct as of the date set
forth opposite my/our signature(s) on this application and acknowledge
my/our understanding that any intentional or negligent misrepresentation(s)
of the information contained in this application may result in civil
liability and/or criminal penalties including, but not limited to, fine
or imprisonment or both under the provision of Title 18, United States
Code, Section 1001, et seq. and liability for monetary damages to the
Lender, its agents, successors and assigns, insurers and any other person
who may suffer any loss due to reliance upon any misrepresentation which
I/we have made on this application. |