2027 Cumberland Ct, Brookings, SD
Just Listed
2 BATHROOMS
0.14 acres Lot
Contractor Qualification Requirements: Two years tax returns Interim financial statement including profit & loss and balance sheet within 90 days General Contractor’s License W9 Form – attached Contractor Due Diligence Form – attached Construction Documentation Requirements: Fixed Price Construction Contract (draft for Lender review), between “Owner” and “Contractor” addressing the following: Owner name on contract must match real estate owner. If borrower is leasing, the operating company should be listed as Owner. Commencement date “upon written notice to proceed by owner” Length of construction period/# of days to complete project Verbiage specifying all inclusions/exclusions and allowances to the contract (including meter and tap fees, permits, equipment, landscaping, etc.) Change orders must be approved by Lender prior to change work commencing Retainage – 10% held on all labor & materials (please provide state statute if otherwise regulated) States that disbursements are per