Infrastructure

Infrastructure

Infrastructure refers to the Condominium Project’s streets, storm water management, water and sewage systems, and utilities, along with the Condominium Project’s Common Elements and any similar items, called for in the Condominium Project or Legal Phase. Initial Disbursement Limit (applicable to HECMs only) Initial Disbursement Limit refers to the maximum amount of funds that can be advanced to the Borrower of an adjustable rate HECM at closing and during the First 12-Month Disbursement Period.