Home>Initial Closing>Documents Required for Initial Closing
DOCUMENTS REQUIRED FOR INITIAL CLOSING
The HUD attorney will require three copies of all of the following documents unless otherwise indicated below. These will be
Originals (Or), Executed (E), Certified (C) or Conformed (Cn) as indicated after each document below. (N/F) means there is
no form. Photocopies of fully executed documents may be submitted for conformed copies. If there is no link to a
document, where applicable, obtain it from the HUD Attorney assigned to your project closing. The project attorney should
consult with the HUD attorney when there is a question.
For mixed finance projects, HUD has specific forms to be used in lieu of some the forms required in a non mixed finance
project, such as the Use Agreement, Regulatory Agreement. Check with the HUD Project Manager to obtain additional
forms for mixed finance projects. For a mixed-financed project with bond financing, see attached list from HUD.
(1). Capital Advance/Building Loan Agreement (HUD-90167-CA-NY) amended pursuant to Section 22 of the Lien Law of the
State of New York. Document must be filed. The HUD Project Manager fills out and provides this form to the Owner to
sign and notarize. The form provided here is a sample. (4Or). If mixed finance, confirm document revisions.
(2) Firm Commitment for Capital Advance Financing (using Form HUD-92432-CA until revised) including reissued, revised or
amended firm commitment. (HUD Project Manager will provide) (3Cn)
(3) Certificate of Incorporation (HUD-91732-A-CA) also applies to organizational documents, such as Articles of
Organization (C,2Cn)
(4) Bylaws. Must be certified by corporate secretary and include an Authentication of Adoption. (C,2Cn)
(5) Incumbency Certificate (202) or (811). Should contain commencement and expiration dates of officers. Submit the
Certificate for the Owner only at Initial Closing. (Or,2Cn)
(6) Certificate of Existence. In New York State, provide a Certificate of Subsistence (must be within 30 days days of
closing) (N/F) (Or,2Cn)
(7) Regulartory Agreement (HUD-92466-CA) (4/92). If an elevator exists, agreement must include an Elevator Maintenance
Contract Rider. This document must be recorded. (Or,3Cn). If mixed finance, confirm document revisions.
(8) Corporate Resolution (authorizing mortgage transaction). Must be certified by the Secretary, dated the day of the
closing and contain the following language: The resolution dated has not been revoked, amended, modified or changed. (C,
2Cn)
(9) Lease (if mortgage is on leasehold). (C2Cn)
(10) Land Disposition Contract and Deed (if project is within an urban renewal area). Additionally, in the City of New York,
an HPD letter regarding reversion is required (E, 2Cn)
(11) Title Policy, ALTA 9 Endorsement is also required. (Or, 2Cn).
(12) Evidence of Zoning Compliance. Must include (1) Letter from municipality and in addition, may include either (2) Letter
from architect/engineer, or (3) Opinion of zoning counsel. (3Cn)
(13) Building Permits. All building permits must be issued by legally recognized entity. (3Cn)
(14) Survey Instructions (HUD-92457A-M) and Report (HUD-92457M). The Report must be dated within ninety (90) days of
closing. If the Firm Commitment has been issued after August, 2014, use Form HUD-90173M. (Or,2Cn)
(15) Survey. Must be dated within ninety (90) days of closing and comply with 2011 ALTA/ACSM minimum standards and
contain Table A Optional Specifications as described in Form HUD-92457M or Form HUD-90173M if the Firm Commitment
was issued after August, 2014. . The certification language noted on the Survey Instructions in #14 above, must be
stated verbatim, with no deviation in the wording. The surveyor must receive a copy of the survey instructions
prior to the preparation of the final survey. (3Cn)
(16) Mortgage (HUD-90165-CA). This document must be recorded. (Or, 3Cn). If mixed finance, confirm with HUD as to form
The list below is a compilation of the legal documents needed for the Initial Closing, which are
outlined in the following HUD sources: HUD Legal Requirements for Initial Closing, Section
202/Section 811, Notice H 96-102 (HUD), Attachment F, and the HUD New York State Addendum.
Click on the link to view a copy of the original forms. For your convenience, the two HUD lists
have been combined below. As the Guide becomes aware of updated revisions of the required
forms, they will be included here.
(17) Mortgage Note (HUD-93432-CA) (4/92) (Or,3Cn). If mixed finance, confirm with HUD as to form.
(18) a. Construction Contract, Lump Sum (HUD-92442-CA) (11/00) (E,2Cn)
OR
b. Construction Contract, Cost Plus (HUD-92442A-CA)(11/00 (E,2Cn)
AND, (if applicable)
c. Construction Contract Incentive Payment (HUD-92443-CA) (E,2Cn)
Construction Contract must include the following attachments:
A. Index of Drawings
B. Index of Specifications
C. Incentive Payment Rider, if using Cost Plus Contract (see #18b. above)
D. Supplementary Conditions Form HUD 92554M
E. Arbitration Rider ("Rider 1") deleting the A201-2007 arbitration clause
F. Amendment to the Construction Contract to Identify Identities of Interest between
Owner/Contractor/Subtractors/Architect, in Appendix 8, Handbook 4430.1 Rev. 1
G.AIA 201 General Condtions 2007 ed.
H. Contractor's and/or Mortgagor's Cost Breakdown (see 19. below)
I. Davis Bacon Wage Determination (if applicable)
(19) Contractor's and/or Mortgagor's Cost Breakdown (HUD-2328) (HUD to provide your
previously processed and approved form) (3C)
(20) Assurance of Completion: (Option b. is customarily used.)
a. Performance Bond-Dual Obligee (FHA 2452) (Or, 2Cn)
and Payment Bond (HUD-92452A) (Or, 2Cn)
and Surety Company's Telegram or Facsimile (Or, 2Cn)
OR
b. Performance Bond-Payment Bond (Dual Obligee) (HUD-92452-CA)
(Or,2Cn)
OR
c. Completion Assurance Agreement (HUD-92450-CA) (Or, 2Cn)
Evidence must show that: (1) Surety Company is listed on the Treasury
list, (2) has an ability to provide amount of coverage, and (3) executed a
Power of Attorney for the surety representative attending the closing.
(21) Owner-Architect Agreement (AIA Document B108, 2009 edition); HUD Amendment
(HUD-92408M): and Design Architect's Certification (set out in Attachment C, Notice 96-102
(E, 2Cn)
(22) Assurance of Completion of Off-Site Facilities:
(23) Assurance of Utility Services (water, sewer, electricity, gas, heat) E,2Cn
(24) Owner's I.R.S. Tax-Exemption Ruling (3Cn)
(25) Owner's Certificate (HUD 92433-CA) (4/92) (Or, 2Cn)
(26) Owner's Attorney's Closing Opinion (new long form developed by HUD Office of General Counsel is required
including Owner's Certification) Must include additional language regarding Article 9 as adopted in New York
State. Note that the proper form is the 1997 attorney's opinion found at 62 Fed. Reg. 8749, 8760-64 (Feb. 26,
1997) (Or, 2Cn). See attached sample long form.
(27) Evidence of Owner's Deposit (minimum capital investment) for (202) and (811) and ability to provide
moveable furnishings and equipment not covered in capital advance (Or, 2Cn)
(28) Owner's assurance of funds to cover costs over and above capital advance, if applicable (Or, 2Cn)
(29) FHEO Certification in Connection with the Development and Operation of Project. Obtain from Multifamily
Housing Hub. (or, 2Cn)
(30) Blanket Fidelity Bond. See #38. (Or, 2Cn)
(31) Part 1 of the Agreement to Enter into Project Rental Assistance Contract (HUD-90172A-CA), if not
previously executed (Or, 2Cn)
(32) Part 2 of the Agreement to Enter into Project Rental Assistance Contract (HUD-90172B-CA), if not
previously executed (Or, 2Cn)
(33) Use Agreement (HUD-90163-CA ) This document must be recorded. (Or,3Cn). If mixed finance,
HUD 90165.1-CA. Note, the HUD form is a Word document. Click to HUDCLIPS for a fillable format.
(34) Agreement and Certification (HUD-93566-CA) (Or,2Cn). If mixed finance, confirm with HUD for form.
(35) Collateral Agreements, if any (Or, 2Cn)
(36) Attendance List (HUD will provide form to be completed at closing)
(37) Security Agreement and UCC-1 Financing Statements. Must include the following attachments: (1)
Schedule A (general collateral description) (including accounts receivable), (2) Schedule B (specific property
list) (which must be approved by HUD Housing Office), and Exhibit A (legal description of premises). Financing
Statements must be filed. (Or, 2Cn)
(38) Certificates of Insurance as required by form HUD-90164-CA (Or,2Cn). Projects must provide evidence of
insurance listed in paragraph 4 of the HUD form for the period during construction.
Richard Silverblatt Associates, Inc.
SECTION 202 AND SECTION 811- DEVELOPMENT TEAM REFERENCE GUIDE
For Project Development and Operations