Abstract
An escrow agreement should be executed between the program and funding source(s). It identifies the amount and location of the funds for construction, and the procedures for release for payments. It might be called a Loan Escrow Agreement, an Inter-Lender Agreement or it could be part of the Construction Loan Agreement (see Example 27, “Typical Loan Escrow Agreement,” and Addendum 21 for full document). The Construction Specialist must know the mechanics of these procedures to avoid delays in payments to the contractor and the resulting ill will.
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© 1991 Springer Science+Business Media New York
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Duncan, W. (1991). Negotiate Escrow Agreement(s). In: Duncan, W. (eds) Substantial Rehabilitation & New Construction. Housing production manual. Springer, Boston, MA. https://doi.org/10.1007/978-1-4684-6539-6_39
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DOI: https://doi.org/10.1007/978-1-4684-6539-6_39
Publisher Name: Springer, Boston, MA
Print ISBN: 978-1-4684-6541-9
Online ISBN: 978-1-4684-6539-6
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