Term Sheet

Following please see the terms and conditions under which JEMS Financial is pleased to offer financing. Please note JEMS Financial reserves the right to alter or revoke these terms and conditions.  Printer Friendly Term Sheet

Loan Amount:                                       Date:

Term:

Amortization:

Interest Rate:

Origination Fee:

Borrower:

Guarantors:

Security:

Advances:   $________ will be advanced at closing for land acquisition. Construction disbursements will be on request as work is completed per attached construction line item budget.

Additional Conditions:
  1. Borrower to pay all closing costs and legal fees. JEMS requires payment of 50% of legal fees to begin loan processing. The balance of legal fees will be paid at closing.
  2. Subject to satisfactory appraisal and/or site inspection.
  3. Subject to satisfactory credit review of Borrowers and Guarantors.
  4. Borrower to provide construction line item budget.
  5. Borrower to provide proposed house plans and specifications.
  6. Borrower to provide copy of Building Permit prior to closing.
Please acknowledge your acceptance of the above terms and conditions by signing below.

________________________________________________________________________
Signature                                                       Print Name
910 Boston Post Road • Marlborough, MA 01752 • 508-229-7827 • rlo@keystonedev.net