Construction Loan Investment Rider To Security Instrument {3738} | Pdf Fpdf Docx | New York

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Construction Loan Investment Rider To Security Instrument {3738} | Pdf Fpdf Docx | New York

Last updated: 6/27/2023

Construction Loan Investment Rider To Security Instrument {3738}

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Form 3738 - MULTISTATE CONSTRUCTION LOAN INVESTOR RIDER TO SECURITY INSTRUMENT – Single-Family – Fannie Mae MODEL DOCUMENT. This form is for use in construction loan transactions involving Fannie Mae. It is a supplemental document that is incorporated into and amends the existing security instrument (such as a mortgage, mortgage deed, deed of trust, or security deed) associated with the loan. The form includes the names of the note holder and borrower, as well as the property details. It establishes additional covenants and agreements between the borrower and note holder, specifically related to cross-default provisions. It states that any default or breach by the borrower under any note or agreement, including the Construction Loan Agreement, will be considered a breach under the security instrument, allowing the note holder to exercise remedies provided by the security instrument. It's important to note that this form is provided as an example and should be reviewed and validated by legal counsel to ensure its validity and enforceability in the relevant jurisdiction.

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