19.5.6.4 Assurance of Completion for Off-Site Improvements

A. When the Firm Commitment requires Borrower to fund construction of elements outside the Project’s property boundaries, HUD may require submittal of one or more of the following items, each at the discretion of the RC Director and in such form and substance as may be acceptable to the RC Director:

1. Plans and specifications for the off-site improvements;

2. Contracts or other agreements governing the construction of the off-site improvements;

3. Off-Site Bond (form HUD-92479M);

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Chapter 19 Closing Guide 19.5 Additional Requirements for Insurance of Advances

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4. Escrow Agreement for Off-Site Facilities (form HUD-91071M);

5. A letter of credit;

6. Evidence of the locality’s plans for off-site improvements (if the municipality or other governmental locality will be responsible for completion of those improvements); and

7. Other evidence as deemed appropriate by the RC Director.