Wednesday, August 5, 2020 | 12:00 pm – 3:00 pm
Matthew C. Cahill
Vice President, Corporate Underwriting Counsel, First American Title Insurance Company
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The program is intended to provide attorneys with a basic understanding of representing a borrower in a small to medium sized commercial mortgage loan. It is intended to provide attorneys with the skills necessary to review and negotiate the terms and salient provisions of loan documentation, preparation and modification of organization documents and drafting and understanding the role of supporting documents such as Subordination Non-Disturbance Agreements, estoppels certificates and opinion letters of counsel.
Program Fee:
$99 for Members | $199 for Nonmembers
Small Law Firm: $49 for MembersMembers who are Recent Law Graduates, Newly Admitted Lawyers (admitted for the first time in any state or country 2018-2020), In-House/Corporate Counsel, Judges, or attorneys that practice within the Government, Academic or Not-for-Profit sectors attend this program for free.
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Mark Frimmel
Partner
Michelman & Robinson, LLPCameron Weil
Vice President and Assistant General Counsel
Cantor FitzgeraldHarlan Greenman
Of Counsel
Greenspoon Marder LLPEugene J. Martin
Partner
Sankel, Skurman & McCartin, LLPHillary A. Jury
General Counsel
The Battery Group -
12:00 pm – 12:05 pm
Introduction & Differences between a Term Sheet & Commitment Letter12:05 pm – 12:20 pm
Borrower Organization Documents- Organizational Structures and Charts
- Entity Types and Organizational Documents:
- Corporation
- Limited Liability Company
- Limited Partnership
- Unusual Entities
- Secretary Certificate
- Special Purpose Entities/Special Purpose Vehicles
12:20 pm – 12:45 pm
Opinion Letters of Counsel- What and why is an opinion letter?
- Due formation and existence
- Enforceability and governing law
- Credit Documents
- Mortgage Documents
- Other Security Documents
- Creation
- Perfection
- Additional opinions
12:45 pm – 1:15 pm
Title Report, Searches & Surveys
A. Ordering title
B. Reading and Understanding the title report
C. Tax, lien, judgment, departmental/municipal, bankruptcy, litigation, UCC and patriot searches
D. ECBs, violations and clearing exceptions
E. Types of surveys
F. Pro forma policies, policies, common endorsements, ALTA 9 Endorsement and affirmative insurance1:15 pm -1:20 pm
Break1:20 pm – 1:30 pm
Mortgage Assignments, Mortgage Recording Tax, Section 255 & 275 Affidavits1:30 pm – 1:40 pm
Leases, Estoppel Certificates, Subordination Agreements & Subordination Non-Disturbance Agreements1:40 pm – 2:40 pm
Review & Negotiation of Loan Documents & Commitment Letters- Closing Checklist
- Due Diligence items – Survey, Zoning and Zoning Reports, Phase I Environmental Reports, Appraisals and Financials
- Note
- Mortgage
- Assignment of Leases and Rents
- UCC Financing Statement
- Guarantees
- Environmental Indemnity
- ADA Indemnity
- Related Loan Documents
2:40 pm – 3:00 pm
Preparation & Closing- Wire Fraud
- Sit down or through the mail
- Pdfs, wet ink and DocuSign signatures
- Post-closing obligations
- Questions
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CLE Credit:
New York: 3.5 Skills
New Jersey: 3.5 General
California: 3.5 General
Pennsylvania: 2.5 General
Connecticut: Available to Licensed Attorneys -
Sponsoring Association Committee:
Real Property Law, Jason T. Polevoy, ChairSponsorship Opportunities are Available! Please Contact:
Angie Avila, Manager, Membership Outreach and Sponsorships | (212) 382-6608 | aavila@nycbar.org______________________________________________________________