Effective Date of Permanent Financing

Effective Date of Permanent Financing

For Construction to Permanent Mortgages and Renovation Mortgages, the date when the Interim Construction Financing is replaced by the Permanent Financing through either a payoff, conversion or modification. The Effective Date of Permanent Financing is as follows: Construction to Permanent Mortgages and Renovation Mortgages Effective Date of Permanent Financing One-Time Close transaction with automatic conversion Due Date of the first monthly payment of principal and interest on the Permanent Financing One-Time Close transaction with Construction to Permanent Date on which the Construction to Permanent Modification Modification Agreement Agreement is effective Two-Time Close transaction Note Date of the Permanent Financing