414.12C

Content of Disbursement Request

Each of the Borrower’sBorrower’sPerson who is the obligor per the Note. disbursement requests must be in writing and must specify, at a minimum:

  • the specific repair and restoration work for which reimbursement is being sought;
  • the quantity and price of all materials (grouped by type or category) or specific replacement items (e.g., appliances) purchased; and
  • the cost of all contracted labor or other services.

The Borrower’sBorrower’sPerson who is the obligor per the Note. disbursement requests must be accompanied by:

  • a BorrowerBorrowerPerson who is the obligor per the Note. certification that the repair and restoration work was completed in a good and workmanlike manner, in accordance with any plans and specifications previously approved by the ServicerServicerPrimary Person servicing the Mortgage Loan, including the originator, seller, or a third party. , and in compliance with all applicable laws, ordinances, rules, and regulations of any governmental authority, agency, or instrumentality having jurisdiction over the PropertyPropertyMultifamily residential real estate securing the Mortgage Loan, including the fee simple or Leasehold interest, Improvements, and personal property (per the Uniform Commercial Code). ;
  • if the invoice exceeds the lesser of $25,000 or 1% of the UPBUPBUnpaid Principal Balance :
    • a copy of the invoice detailing the covered materials, labor, or services;
    • payment evidence; and 
    • a LienLienLien, mortgage, bond interest, pledge, security interest, charge, or encumbrance of any kind. release from each contractor, subcontractor, or materialman; and
  • other relevant documentation required under the Loan DocumentsLoan DocumentsAll Fannie Mae-approved documents evidencing, securing, or guaranteeing the Mortgage Loan. , including any applicable Amendment to Multifamily Loan and Security Agreement (Restoration Reserve) (Form 6615) or Insurance Loss Proceeds Collateral Agreement (Form 6639).