Building Loan Agreement

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Building Loan Agreement between a bank and a borrower who is constructing buildings or other improvements on real property. It sets out all terms including loan amount and how proceeds will be disbursed.

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This Building Loan Agreement is between a bank and a borrower for the construction of buildings and other improvements to real property. This agreement sets forth the names of the parties, a description of the land where the buildings will be located and the amount of the loan. It also sets forth how the loan proceeds will be disbursed and how these proceeds will be used.

This agreement also sets out dates when construction will commence, contemplated completion date, rights of inspection by the bank and reports that must be received prior to loan disbursement. Also included are provisions and remedies regarding default and that the bank has the right to appoint a receiver if deemed necessary.

This Building Loan Agreement contains the following:
  • Parties: Sets out the name and addresses of both the bank and borrower;
  • Construction Loan: Sets out the date of the loan and that the bank will lend borrower a set sum for construction of improvements on land;
  • Disbursement of Loan: Bank will disburse proceeds in proportion to the progress of the construction and has the right to disburse the loan proceeds directly to any contractor, subcontractor, materialmen, etc. who is performing labor or services on the construction;
  • Use of Loan Proceeds/Cost Analysis: Loan proceeds can be used only for the cost of the property and its improvement. A Development Cost Analysis will be provided to the bank prior to any disbursement;
  • Request for Disbursement: Borrower will submit any request for disbursement along with any appropriate form which will be signed by the general contractor on the construction project;
  • Completion/Inspections: Dates for completion are spelled out as well as the bank's right to inspect the property and its improvements;
  • Disbursement Conditions: Prior to proceeds disbursements, the bank will require subsoil reports and analysis, evidence that property complies with all applicable laws and written documentation from all appropriate utility companies that services will be available for the project;
  • Signatures: A bank representation and the borrower must both sign the agreement.

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This attorney-prepared packet contains:
  1. General Information
  2. Instructions and Checklist
  3. Building Loan Agreement
State Law Compliance: This form complies with the laws of all states
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.
Number of Pages12
DimensionsDesigned for Letter Size (8.5" x 11")
EditableYes (.doc, .wpd and .rtf)
UsageUnlimited number of prints
Product number#43653
This is the content of the form and is provided for your convenience. It is not necessarily what the actual form looks like and does not include the information, instructions and other materials that come with the form you would purchase. An actual sample can also be viewed by clicking on the "Sample Form" near the top left of this page.

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