Evaluate referenced lending details including loan(s) amounts, associated fees, applicable dates and all conditions precedent within the scope of technical review.
Review, sign and acknowledge the loan monitoring engagement requirements set out by the Lender. May include additional reporting above and beyond that listed in the Commitment Letter.
Review of appraisal report for comparison of scope of work,bare land values and projected profit versus cost.
A review of available drawings and specifications to determine whether all costs have been included in order to fully develop the project. Project plans may include Architectural, Structural, Mechanical, Electrical, Civil and Landscaping, among others.
Review of Prime Contracts for completeness and consistency and to ensure all work is covered. Comment on the form of contract and any risks arising from it.
The project monitor is to review general contracts, subcontracts and suppliers as appropriate and advise the lender of any concerns regarding their capabilities.
Receive requested municipal documents including servicing agreement for city fees, special requests, permit requirements and timeframes.
Examine the Geotechnical and any Environmental reports and comment on whether their findings have been incorporated into the plans and specifications of the project budget.
Review site surveys for current conditions including existing buildings, infrastructure, right-of-ways, elevation and scope of future works.
Examine the project budget item by item, comparing costs with the most recent prices on similar projects and current market rates, ensuring all work is accounted for in the budget
To confirm the Borrower's initial equity contribution prior to the first draw by way of a review of land equity and cash injections incurred to date.
Obtain from the Borrower the construction schedule to ensure feasibility and reasonableness. Analysis of cost- loading for inappropriate order and excessive front-loading.
Receive and review the cash flow projections and comment on any revisions that may be required. Cash flow analysis should show cash inflows and outflows and identify hard costs, soft costs, land costs, financing fees and contingency.
Review and verify the development and building permitapprovals for compliance and outstanding requirements.
Perform initial as well as subsequent site reviews to assess current status of land, location of municipal services, anticipated site works and possible impediments which could affect budget and schedule.
Review any approved pending or contemplated change orders or revisions to date to determine their completeness, adequacy and reasonableness as to the scope of changes, cost estimates and time allowances.
Obtain and review insurance certificates for compliance with loan agreement, level of coverage and period of coverage.
Obtain and review performance security, bonding and suretydocuments from the Borrower to assess level of coverage.
Review of pre-sales and pre-leases to date against Lenderrequirements outlined in Loan Agreement.
Evaluate standard holdback requirements versus completion of work on site. Comment on reasonableness of the Borrower's lien holdback account.
Review of New Home Warranty registration for all new residential projects. Review includes enrolment with Homeowner Protection Office as well as the individual unit warranty numbers.
Attendance at meetings held regularly on site or at the construction manager's office to discuss status of project, arising issues and close-out procedures.
Construction project accounting including the receipt of all invoices, tax remittances, holdback administration, bank account review, cheque issuance and creation of Certificates of Payment.
Detailed listing of all payments to be issued during aspecific claim period for approved invoices.
Review of payments to be made to trade contractors basedon invoices received each payment period from the Borrower.
Periodic reviews from invested parties including consultants, municipal bodies and insurance companies to confirm proper requirements are being met.
Signed and notarized document confirming all construction loan funds have been appropriately used, and that no contractor is unpaid beyond 30 days less holdback.
Document signed by the Prime Consultant on the project confirming last site inspection, that the project is being built per their specifications and that the work is being completed in a good and workmanlike manner.
Review tax remittances on a periodic basis to confirm proper remittance periods, matching work complete and payment to trades.
Evaluate referenced lending details including loan(s) amounts, associated fees, applicable dates and all conditions precedent within the scope of technical review.
Review, sign and acknowledge the loan monitoring engagement requirements set out by the Lender. May include additional reporting above and beyond that listed in the Commitment Letter.
Review of appraisal report for comparison of scope of work,bare land values and projected profit versus cost.
A review of available drawings and specifications to determine whether all costs have been included in order to fully develop the project. Project plans may include Architectural, Structural, Mechanical, Electrical, Civil and Landscaping, among others.
Review of Prime Contracts for completeness and consistency and to ensure all work is covered. Comment on the form of contract and any risks arising from it.
The project monitor is to review general contracts, subcontracts and suppliers as appropriate and advise the lender of any concerns regarding their capabilities.
Receive requested municipal documents including servicing agreement for city fees, special requests, permit requirements and timeframes.
Examine the Geotechnical and any Environmental reports and comment on whether their findings have been incorporated into the plans and specifications of the project budget.
Review site surveys for current conditions including existing buildings, infrastructure, right-of-ways, elevation and scope of future works.
Examine the project budget item by item, comparing costs with the most recent prices on similar projects and current market rates, ensuring all work is accounted for in the budget
To confirm the Borrower's initial equity contribution prior to the first draw by way of a review of land equity and cash injections incurred to date.
Obtain from the Borrower the construction schedule to ensure feasibility and reasonableness. Analysis of cost- loading for inappropriate order and excessive front-loading.
Receive and review the cash flow projections and comment on any revisions that may be required. Cash flow analysis should show cash inflows and outflows and identify hard costs, soft costs, land costs, financing fees and contingency.
Review and verify the development and building permitapprovals for compliance and outstanding requirements.
Perform initial as well as subsequent site reviews to assess current status of land, location of municipal services, anticipated site works and possible impediments which could affect budget and schedule.
Review any approved pending or contemplated change orders or revisions to date to determine their completeness, adequacy and reasonableness as to the scope of changes, cost estimates and time allowances.
Obtain and review insurance certificates for compliance with loan agreement, level of coverage and period of coverage.
Obtain and review performance security, bonding and suretydocuments from the Borrower to assess level of coverage.
Review of pre-sales and pre-leases to date against Lenderrequirements outlined in Loan Agreement.
Evaluate standard holdback requirements versus completion of work on site. Comment on reasonableness of the Borrower's lien holdback account.
Review of New Home Warranty registration for all new residential projects. Review includes enrolment with Homeowner Protection Office as well as the individual unit warranty numbers.
Attendance at meetings held regularly on site or at the construction manager's office to discuss status of project, arising issues and close-out procedures.
Construction project accounting including the receipt of all invoices, tax remittances, holdback administration, bank account review, cheque issuance and creation of Certificates of Payment.
Detailed listing of all payments to be issued during aspecific claim period for approved invoices.
Review of payments to be made to trade contractors basedon invoices received each payment period from the Borrower.
Periodic reviews from invested parties including consultants, municipal bodies and insurance companies to confirm proper requirements are being met.
Signed and notarized document confirming all construction loan funds have been appropriately used, and that no contractor is unpaid beyond 30 days less holdback.
Document signed by the Prime Consultant on the project confirming last site inspection, that the project is being built per their specifications and that the work is being completed in a good and workmanlike manner.
Review tax remittances on a periodic basis to confirm proper remittance periods, matching work complete and payment to trades.
Evaluate referenced lending details including loan(s) amounts, associated fees, applicable dates and all conditions precedent within the scope of technical review.
Review, sign and acknowledge the loan monitoring engagement requirements set out by the Lender. May include additional reporting above and beyond that listed in the Commitment Letter.
Review of appraisal report for comparison of scope of work,bare land values and projected profit versus cost.
A review of available drawings and specifications to determine whether all costs have been included in order to fully develop the project. Project plans may include Architectural, Structural, Mechanical, Electrical, Civil and Landscaping, among others.
Review of Prime Contracts for completeness and consistency and to ensure all work is covered. Comment on the form of contract and any risks arising from it.
The project monitor is to review general contracts, subcontracts and suppliers as appropriate and advise the lender of any concerns regarding their capabilities.
Receive requested municipal documents including servicing agreement for city fees, special requests, permit requirements and timeframes.
Examine the Geotechnical and any Environmental reports and comment on whether their findings have been incorporated into the plans and specifications of the project budget.
Review site surveys for current conditions including existing buildings, infrastructure, right-of-ways, elevation and scope of future works.
Examine the project budget item by item, comparing costs with the most recent prices on similar projects and current market rates, ensuring all work is accounted for in the budget
To confirm the Borrower's initial equity contribution prior to the first draw by way of a review of land equity and cash injections incurred to date.
Obtain from the Borrower the construction schedule to ensure feasibility and reasonableness. Analysis of cost- loading for inappropriate order and excessive front-loading.
Receive and review the cash flow projections and comment on any revisions that may be required. Cash flow analysis should show cash inflows and outflows and identify hard costs, soft costs, land costs, financing fees and contingency.
Review and verify the development and building permitapprovals for compliance and outstanding requirements.
Perform initial as well as subsequent site reviews to assess current status of land, location of municipal services, anticipated site works and possible impediments which could affect budget and schedule.
Review any approved pending or contemplated change orders or revisions to date to determine their completeness, adequacy and reasonableness as to the scope of changes, cost estimates and time allowances.
Obtain and review insurance certificates for compliance with loan agreement, level of coverage and period of coverage.
Obtain and review performance security, bonding and suretydocuments from the Borrower to assess level of coverage.
Review of pre-sales and pre-leases to date against Lenderrequirements outlined in Loan Agreement.
Evaluate standard holdback requirements versus completion of work on site. Comment on reasonableness of the Borrower's lien holdback account.
Review of New Home Warranty registration for all new residential projects. Review includes enrolment with Homeowner Protection Office as well as the individual unit warranty numbers.
Attendance at meetings held regularly on site or at the construction manager's office to discuss status of project, arising issues and close-out procedures.
Construction project accounting including the receipt of all invoices, tax remittances, holdback administration, bank account review, cheque issuance and creation of Certificates of Payment.
Detailed listing of all payments to be issued during aspecific claim period for approved invoices.
Review of payments to be made to trade contractors basedon invoices received each payment period from the Borrower.
Periodic reviews from invested parties including consultants, municipal bodies and insurance companies to confirm proper requirements are being met.
Signed and notarized document confirming all construction loan funds have been appropriately used, and that no contractor is unpaid beyond 30 days less holdback.
Document signed by the Prime Consultant on the project confirming last site inspection, that the project is being built per their specifications and that the work is being completed in a good and workmanlike manner.
Review tax remittances on a periodic basis to confirm proper remittance periods, matching work complete and payment to trades.
Evaluate referenced lending details including loan(s) amounts, associated fees, applicable dates and all conditions precedent within the scope of technical review.
Review, sign and acknowledge the loan monitoring engagement requirements set out by the Lender. May include additional reporting above and beyond that listed in the Commitment Letter.
Review of appraisal report for comparison of scope of work,bare land values and projected profit versus cost.
A review of available drawings and specifications to determine whether all costs have been included in order to fully develop the project. Project plans may include Architectural, Structural, Mechanical, Electrical, Civil and Landscaping, among others.
Review of Prime Contracts for completeness and consistency and to ensure all work is covered. Comment on the form of contract and any risks arising from it.
The project monitor is to review general contracts, subcontracts and suppliers as appropriate and advise the lender of any concerns regarding their capabilities.
Examine the Geotechnical and any Environmental reports and comment on whether their findings have been incorporated into the plans and specifications of the project budget.
Review site surveys for current conditions including existing buildings, infrastructure, right-of-ways, elevation and scope of future works.
Examine the project budget item by item, comparing costs with the most recent prices on similar projects and current market rates, ensuring all work is accounted for in the budget
To confirm the Borrower's initial equity contribution prior to the first draw by way of a review of land equity and cash injections incurred to date.
Obtain from the Borrower the construction schedule to ensure feasibility and reasonableness. Analysis of cost- loading for inappropriate order and excessive front-loading.
Receive and review the cash flow projections and comment on any revisions that may be required. Cash flow analysis should show cash inflows and outflows and identify hard costs, soft costs, land costs, financing fees and contingency.
Review and verify the development and building permitapprovals for compliance and outstanding requirements.
Perform initial as well as subsequent site reviews to assess current status of land, location of municipal services, anticipated site works and possible impediments which could affect budget and schedule.
Review any approved pending or contemplated change orders or revisions to date to determine their completeness, adequacy and reasonableness as to the scope of changes, cost estimates and time allowances.
Obtain and review insurance certificates for compliance with loan agreement, level of coverage and period of coverage.
Obtain and review performance security, bonding and suretydocuments from the Borrower to assess level of coverage.
Review of pre-sales and pre-leases to date against Lenderrequirements outlined in Loan Agreement.
Evaluate standard holdback requirements versus completion of work on site. Comment on reasonableness of the Borrower's lien holdback account.
Review of New Home Warranty registration for all new residential projects. Review includes enrolment with Homeowner Protection Office as well as the individual unit warranty numbers.
Attendance at meetings held regularly on site or at the construction manager's office to discuss status of project, arising issues and close-out procedures.
Construction project accounting including the receipt of all invoices, tax remittances, holdback administration, bank account review, cheque issuance and creation of Certificates of Payment.
Detailed listing of all payments to be issued during aspecific claim period for approved invoices.
Review of payments to be made to trade contractors basedon invoices received each payment period from the Borrower.
Periodic reviews from invested parties including consultants, municipal bodies and insurance companies to confirm proper requirements are being met.
Signed and notarized document confirming all construction loan funds have been appropriately used, and that no contractor is unpaid beyond 30 days less holdback.
Signed and notarized document confirming all construction loan funds have been appropriately used, and that no contractor is unpaid beyond 30 days less holdback.
Document signed by the Prime Consultant on the project confirming last site inspection, that the project is being built per their specifications and that the work is being completed in a good and workmanlike manner.
Review tax remittances on a periodic basis to confirm proper remittance periods, matching work complete and payment to trades.