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The agreement governs repayment until all principal, interest, and authorized fees are paid, restricts advances to Lender approval, and limits use of loan funds to approved construction and related costs. It defines Project and Property, requires Borrower to pay Lender’s out-of-pocket expenses, and prohibits construction before security documents are recorded and insurance evidence is provided.",{"@graph":63,"@context":118},[64,80,101],{"@type":65,"itemListElement":66},"BreadcrumbList",[67,71,74,77],{"item":68,"name":69,"@type":70,"position":9},"https://docshare.wps.com","Home","ListItem",{"item":72,"name":10,"@type":70,"position":73},"https://docshare.wps.com/template/",2,{"item":75,"name":41,"@type":70,"position":76},"https://docshare.wps.com/template/letters/",3,{"item":78,"name":59,"@type":70,"position":79},"https://docshare.wps.com/template/construction-loan-agreement-terms-and-conditions/281811/",4,{"url":78,"name":59,"@type":81,"image":82,"author":87,"headline":59,"publisher":90,"fileFormat":93,"inLanguage":57,"description":61,"dateModified":94,"datePublished":95,"encodingFormat":93,"isAccessibleForFree":96,"interactionStatistic":97},"DigitalDocument",{"url":83,"@type":84,"width":85,"height":86},"https://docshare.wps.com/thumbnails/construction-loan-agreement-terms-and-conditions/281811.png","ImageObject",442,249,{"name":88,"@type":89},"wps_ap_test_251126_0180","Person",{"url":68,"name":91,"@type":92},"DocShare","Organization","application/pdf","2026-10-22","2026-09-16",true,{"@type":98,"interactionType":99,"userInteractionCount":35},"InteractionCounter",{"@type":100},"ViewAction",{"@type":102,"mainEntity":103},"FAQPage",[104,110,114],{"name":105,"@type":106,"acceptedAnswer":107},"What is the purpose of the loan under this agreement?","Question",{"text":108,"@type":109},"The Borrower requests a code compliance loan to make improvements on the real property described in the agreement, including repairs to address building code violations recommended by the Lender’s inspection and zoning officer.","Answer",{"name":111,"@type":106,"acceptedAnswer":112},"How is the loan amount determined and how may the funds be used?",{"text":113,"@type":109},"The loan principal does not exceed $200,000.00, and funds may be used only for approved construction/improvement costs, other approved construction-related expenses, and certain loan fees or expenses if permitted by the Lender.",{"name":115,"@type":106,"acceptedAnswer":116},"When is construction allowed to begin?",{"text":117,"@type":109},"No work or materials may be furnished until the related documents are signed and the Lender’s mortgage and security interests are recorded and perfected, and until the Lender receives satisfactory evidence of required insurance and valid perfected liens.","https://schema.org",{"og:url":78,"og:type":120,"og:title":59,"og:site_name":91,"og:description":61},"article",{"robots":122,"canonical":78},"index,follow",{"doc_id":124,"site_id":56},281811,1790727612,{"code":4,"msg":5,"data":127},{"doc_id":124,"user_id":128,"nickname":88,"user_avatar":129,"doc_module":9,"category_id":40,"category_name":41,"doc_title":59,"doc_description":61,"doc_content":130,"file_id":131,"file_url":132,"file_type":133,"file_size":134,"view_count":35,"is_deleted":4,"is_public":9,"is_downloadable":9,"audit_status":9,"page_count":15,"language":135,"language_code":57,"site_id":56,"html_lang":57,"table_of_contents":136,"faqs":137,"seo_title":138,"seo_description":61,"update_tm":139,"read_time":79},8796095027276,"https://avatar.qwps.com/avatar/d3BzX2FwX3Rlc3RfMjUxMTI2XzAxODA=","CONSTRUCTION LOAN AGREEMENT  \nTHIS CONSTRUCTION LOAN AGREEMENT dated August   , 2018, is made and executed between Rock Lake Activity Center, Inc. (\"Borrower\"), having a mailing address of 229 Fremont Street, Lake Mills, WI 53551 and City of Lake Mills, (\"Lender\"), having a mailing address of 200D Water Street, Lake Mills, WI 53551 on the following terms and conditions. Borrower has applied to Lender for a code compliance loan for purposes of making the Improvements on the Real Property described below. Lender is willing to lend the loan amount to Borrower solely under the terms and conditions specified in this Agreement and in the Related Documents, to each of which Borrower agrees. Borrower understands and agrees that: (A) in granting, renewing, or extending a Loan, Lenderis relying upon Borrower's representations, warranties, and agreements as set forth in this Agreement, and (B) the Loan shall be and remain subject to the terms and conditions of this Agreement.  \nTERM. This Agreement shall be effective as of August   , 2018 , and shall continue in full force and effect until such time as the Borrower's Loan in favor of Lender have been paid in full, including principal, interest, costs, expenses, attorneys'fees, and other fees and charges which Borrower is required to pay under this Agreement or the Related Documents , or until such time as the parties may agree in writing to terminate this Agreement.  \nADVANCE AUTHORITY. Advances on the Note will be made at the approval of the Lender.  \nLOAN. The Loan shall be in an amount not to exceed the principal sum of U.S. $200,000.00 and shall bear interest in accordance with the terms of the Note on so much of the principal sum as shall be advanced pursuant to the terms of this Agreement and the Related Documents. Borrower shall use the Loan Funds solely for the payment of: (A) the costs of constructing or making the Improvements in accordance with the Construction Contract; (B) other costs and expenses incurred or to be incurred in connection with the construction of the Improvements as Lender in its sole discretion shall approve; and (C) if permitted by Lender, all expenses and all loan fees described in this Agreement.  \nPROJECT DESCRIPTION. The word \"Project\" as used in this Agreement means the completion of all Improvements contemplated by this Agreement, including without limitation all repairs recommended by the Lender’s Inspection and Zoning Compliance Officer to cure existing violations of Lender’s building code identified by Lender, and all other work necessary to make the Project comply with applicable law.  \nThe word \"Property\" as used in this Agreement means the Real Property together with all Improvements, all equipment, fixtures, and other articles of personal property now or subsequently attached or affixed to the Real Property, together with all accessions, parts, and additions to, all replacements of, and all substitutions for any of such property, and all proceeds (including insurance proceeds and refunds of premiums) from any sale or other disposition of such property. The real estate described below constitutes the Real Property as used in this Agreement.  \nThe real estate legally described in Exhibit A attached hereto and incorporated herein by reference. Its address is commonly known as 229 Fremont Street, Lake Mills, WI.  \nFEES AND EXPENSES. Whether or not the Project shall be consummated, Borrower shall assume and pay upon demand all out-of-pocket expenses incurred by Lender in connection with the preparation of loan documents and the making of the Loan, including without limitation the following: (A) all closing costs, loan fees, and disbursements; (B) all expenses of Lender's legal counsel; and (C) all title examination fees, title insurance premiums, appraisal fees, survey costs, required fees, and filing and recording fees.  \nNO CONSTRUCTION PRIOR TO RECORDING OF SECURITY DOCUMENT. Borrower will not permit any work or materials to be furnished in conne","cbCaiv3894ex3bjJ","https://ap.wps.com/l/cbCaiv3894ex3bjJ","pdf",189393,"English","# Construction Loan Agreement\n## Parties and Purpose\n## Term and Advance Authority\n## Loan Amount and Use of Funds\n## Definitions: Project and Property\n## Fees and Expenses\n## Construction Timing Before Security Recording\n## Representations and Warranties","[{\"question\":\"What is the purpose of the loan under this agreement?\",\"answer\":\"The Borrower requests a code compliance loan to make improvements on the real property described in the agreement, including repairs to address building code violations recommended by the Lender’s inspection and zoning officer.\"},{\"question\":\"How is the loan amount determined and how may the funds be used?\",\"answer\":\"The loan principal does not exceed $200,000.00, and funds may be used only for approved construction/improvement costs, other approved construction-related expenses, and certain loan fees or expenses if permitted by the Lender.\"},{\"question\":\"When is construction allowed to begin?\",\"answer\":\"No work or materials may be furnished until the related documents are signed and the Lender’s mortgage and security interests are recorded and perfected, and until the Lender receives satisfactory evidence of required insurance and valid perfected liens.\"}]","Construction Loan Agreement - Terms and Conditions | PDF",1789568278]