The following checklist should be used as a guide in submitting all documentation to The ISBS Group for use in the preparation of a project analysis report.   The ISBS Group can assist you in the collection of this information as an authorized agent of your company.  The items listed under mandatory are required to complete a report.  The optional items can be provided at anytime during the process up through the first disbursement.  Please ask an ISBS representative for any questions you may have as well as a copy of our project request form for use on multiple projects. 

 

Item/Description	Mandatory	Optional	Note
Loan Source and Use of Funds (SUF)		X	1
Construction Cost Breakdown	X		2
Working Drawings	X		3
Soils Report		X	4
Environmental Report		X	5
Other Engineering Report(s)		X	6
Title Report		X	7
Contract(s)		X	8
Building Loan Agreement (BLA)		X	9

 

 

Notes

 

1. The Source and Use of Funds (SUF) is typically a single sheet provided by the Lender that breaks down the project into direct and indirect costs.  The direct allocation would include building site and soft categories.  The indirect would include items such as administrative, overhead and fees and assessments.  This sheet would also show what portion of the costs are borrower prepaid’s and or contributions and what portion are loan funds to be disbursed.  For loans with multiple lenders, each lender’s portion should be indicated.  The ISBS Group can provide a form for your use.  For additional information please contact an ISBS representative.

 

 

2. The Construction cost breakdown is a series of sheets that breaks down the scope and cost of the construction.  This would address all board and nail items. (I.e. concrete, steel, wood etc.).  Our review of this sheet would include a cross review of the contact documentation (plans/contracts) to ensure that the borrowers intended scope of work is consistent with the actual scope of work executed between the parties  and that all work is in conformance with the governmental codes and life safety requirements.    The ISBS Group can provide a form for your use.  For additional information please contact an ISBS representative.

 

3. The working drawings would address the full scope of the project and specifically tie back to the scope of work indemnified within the construction agreements.  The plans should be a copy of the same set that was submitted to the building department pending approval.

 

4. The soils report review would include an analysis of the geotechnical issues associated with the site.  Special interest would be made to the water table and compressibility of the soil.  We would need to evaluate the suitability of the foundation system identified within the drawings.

 

5. The Environmental Report should include all record and field observations related to all ASTM standards for transaction screen report.  The report should not be more than 18 months old.

 

6. Other Engineering Reports would include reports such as seismic, structural or mechanical as related to the scope of work referenced within the working drawings.

 

7. Title Reports would include information related to any legal restrictions that conflicts with the scope of work identified within the working drawings and contracts.

 

8. Contracts would also include any pending or executed purchase and or change orders related to the scope of work of the project.  If the project is partially completed at the time of the processing of the loan than other preliminary notices should be provided.  The scope of work indemnified within the contracts and or proposals should agree with the scope shown on the plans and specifications.

 

9. Building Loan Agreement (BLA) would include all lender requirements affecting the project.  This agreement would be compared to   other project agreements.