The Basics of Representing a Commercial Mortgage Borrower

Originally held on Thursday, August 2, 2018 | 6:00 p.m. – 9:00 p.m.

Program Co-Chairs:
Jim Carolan

Jim Carolan
Zukerman Gore Brandeis & Crossman, LLP

Mark Frimmel

Mark Frimmel
Michelman & Robinson LLP
 

  • The program will provide attorneys with the basic knowledge and skills to represent a client who is the borrower in a commercial loan transaction. Starting with the loan commitment and ending with the closing, topics will include borrower’s organization documents, special purpose entities, title reports, title policies and endorsements, surveys, assignments of mortgages, review and negotiation of loan documents, estoppel certificates, subordination and non-disturbance agreements, opinion letters and post-closing obligations. The segment on review and negotiation of loan documents will feature comments from a borrower’s perspective and the responses from lender’s counsel.

    OnDemand: $179 for Members | $279 for Nonmembers

  • Matthew C. Cahill
    Vice President
    Senior Divisional Underwriting Counsel
    First American Title Insurance Company
    Eugene Martin
    Sankel, Skurman & McCartin, LLP
    Michael S. Poster
    Michelman & Robinson, LLP
    Sharon V. Skolnik
    Stempel Bennett Claman & Hochberg, P.C.

  • 6:00 p.m. – 6:05 p.m. Review & Negotiation of Term Sheet and/or Commitment Letter
    6:05 p.m. – 6:20 p.m. Closing Checklist:

    • Borrower Organization Documents
      • Articles of Organization/Certificates of Incorporation
        • Special Purpose Entities
      • Operating Agreements/By-Laws
      • Member/Manager/Secretary Certificates
      • Consents/Resolutions
      • Incumbency Certificates
      • Certificates of Status
    6:20 p.m. – 6:30 p.m. Opinion Letters of Counsel
    6:30 p.m. – 7:15 p.m. Title Report, Searches & Surveys

    • Ordering title
    • Tax, lien, judgment, departmental/municipal, bankruptcy, litigation & patriot searches
    • ECBs, violations & clearing exceptions
    • Types of surveys
    • Pro forma policies, policies & endorsements
    7:15 p.m. – 7:25 p.m. Leases, Estoppel Certificates, Subordination Agreements & Subordination Non-Disturbance Agreements
    7:25 p.m. – 7:40 p.m. Mortgage Assignments
    7:40 p.m. – 7:45 p.m. Break
    7:45 p.m. – 8:45 p.m. Review & Negotiation of Loan Documents

    • Note
    • Mortgage
    • Assignment of Leases and Rents
    • UCC Financing Statement
    • Guarantees
    • Intercreditor Agreements
    • Related Loan Documents
    8:45 p.m. – 8:55 p.m. Preparation & Closing

    • Sit down or through the mail
    • PDFs, wet ink and DocuSign signatures
    • Post-closing obligations
    8:55 p.m. – 9:00 p.m. Question/Answer Session

  • CLE Credit
    NY: 3.5 skills
    NJ: 3.5 general
    CA: 2.5 general
    PA: 2.5 general

  • Sponsoring Association Committee: Real Property Law Committee | Jason T. Polevoy, Chair

    Sponsorship Opportunities are Available! Please Contact:
    Kim Howard, Manager of Membership & Marketing | (212) 382-6753 | KHoward@nycbar.org

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