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Acknowledgment and Agreement
This
Statement and any applicable supporting schedules may be completed jointly
by both married Co-Borrowers if their assets and liabilities are
sufficiently joined so that the Statement can be meaningfully and fairly
presented on a combined basis; otherwise separate Statements and Schedules
are required. If the Co-Borrower section was completed about a spouse, this
Statement and supporting schedules must be completed about that spouse also.
Liabilities and Pledged Assets. List the creditor's name, address and
account number for all outstanding debts, including automobile loans,
revolving charge accounts, real estate loans, alimony, child support, stock
pledges, etc. Use continuation sheet, if necessary. Indicate by (*) those
liabilities which will be satisfied upon sale of real estate owned or upon
refinancing of the subject property.
Each
above named Borrowers represents to Lender and to Lender's actual or
potential agents, brokers, processors, attorneys, insurers, servicers,
successors and assigns and agrees and acknowledges that: (1) the information
provided in this application is true and correct as of the date set forth
and that any intentional or negligent misrepresentation of this information
contained in this application may result in civil liability, including
monetary damages, to any person who may suffer any loss due to reliance upon
any misrepresentation that I have made on this application, and/or in
criminal penalties including, but not limited to, fine or imprisonment or
both under the provisions of Title 18, United States Code, Sec. 1001, et
seq.; (2) the loan requested pursuant to this application (the "Loan") will
be secured by a mortgage or deed of trust on the property described herein;
(3) the property will not be used for any illegal or prohibited purpose or
use; (4) all statements made in this application are made for the purpose of
obtaining a residential mortgage loan; (5) the property will be occupied as
indicated herein; (6) any owner or servicer of the Loan may verify or
reverify any information contained in the application from any source named
in this application, and Lender, its successors or assigns may retain the
original and/or an electronic record of this application, even if the Loan
is not approved; (7) the Lender and its agents, brokers, insurers, servicers,
successors and assigns may continuously rely on the information contained in
the application, and I am obligated to amend and/or supplement the
information provided in this application if any of the material facts that I
have represented herein should change prior to closing of the Loan; (8) in
the event that my payments on the Loan become delinquent, the owner or
servicer of the Loan may, in addition to any other rights and remedies that
it may have relating to such delinquency, report my name and account
information to one or more consumer credit reporting agencies; (9) ownership
of the Loan and/or administration of the Loan account may be transferred
with such notice as may be required by law; (10) neither Lender nor its
agents, brokers, insurers, servicers, successors or assigns has made any
representation or warranty, express or implied to me regarding the property
or the condition or value of the property; and (11) my transmission of this
application as an "electronic record" containing my "electronic signature,"
as those terms are defined in applicable federal and/or state laws
(excluding audio and video recordings), or my facsimile transmission of this
application containing a facsimile of my signature, shall be as effective,
enforceable and valid as if a paper version of this application were
delivered containing my original written signature.
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