Multifamily Form 4622 Defeasance Notice

DEFEASANCE NOTICE COVER MEMO

TO:FANNIE MAE

FROM:[INSERT LENDER NAME]

DATE:[INSERT CURRENT DATE]

Attached is the executed Defeasance Notice evidencing Borrower’s intent to defease the applicable Loan and containing all relevant loan and defeasance details.

Name and Contact Information for Closing Agent (settlement company provided by Borrower):

Name
Address
Phone Number
Fax Number
E-Mail Address

Defeasance NoticeForm 4622

DEFEASANCE NOTICE

LENDER LOAN NUMBER

FANNIE MAE LOAN NUMBER

Lender

Name of Lender Contact
Address of Lender Contact
Telephone Number of Lender Contact
Fax number of Lender Contact
Lender Account Name and Number for Payment to Lender
E-Mail Address

BORROWER NAME

Name of Borrower Contact
Address of Borrower Contact
Telephone Number of Borrower Contact
Fax Number of Borrower Contact
E-Mail Address

PROPERTY NAME

Location of Property

City

County

State

Zip Code

IS THIS LOAN REFINANCING WITH FANNIE MAE? /

no yes

if yes, commitment no.______

SUBSTITUTE COLLATERAL /

Fannie Mae Investment Security

SUCCESSOR BORROWER /

Multifamily Collateral Corporation

LOAN/NOTE INFORMATION

1. / Original Loan Amount
2. / Date of Note
3. / Interest Only Note / Yes
No
4. / Interest Rate
5. / Interest Basis / 30/360
Actual/360
6. / Defeasance Lockout Period End Date
7. / Expiration Date of Defeasance Period
8. / scheduled balance as of the defeasance closing date
9. / Monthly Payment Amount (monthly principal and interest payment)
10. / Next Payment Date (first payment date after defeasance closing)
11. / Final Payment Date (maturity date of note)
12. / borrower Last Paid Installment date

DEFEASANCE INFORMATION

13. / Defeasance Deposit (obtain from Defeasance Calculator found on efanniemae.com web site) / FM Treasury Approval
14. / Defeasance Commitment Fee (1% of Item 8 above)**
15. / Defeasance Closing Date (must be at least 30 days, but not more than 45 days, from the date of execution of this Notice which date is also a Business Day)
16. / Defeasance Deposit due (Item 13 less Item 14)
[Payable to Fannie mae not later than 5:00 pm on Defeasance Closing Date]
**Due upon execution by Borrower. Estimates are provided for information only and shall not be relied upon without prior written notice from Lender.

DEFEASANCE INVESTMENT SECURITY INFORMATION

See attached Exhibit A

(obtain from Investment Agreement)

Signature of Borrower
[Insert Borrower's Name, if entity]
Name:
Title: / Date of Execution by Borrower
Signature of Lender
[Insert Lender's name]
Name:
Title: / Date of Execution by Lender

Data has not been verified by Fannie Mae until the signature of a fannie mae authorized representative appears below. Lender will be entitled to rely on data contained in this notice, including Exhibit A attached hereto, only when Fannie Mae has executed this notice. Fannie Mae's verification is based upon the Defeasance Closing Date occurring as stated above and receipt of the Defeasance Deposit by Fannie Mae from the Lender no later than 5:00 pm on the Defeasance Closing Date.

FANNIE MAE
By:
Name:
Title: / Date of Execution by Fannie Mae

Defeasance NoticeForm 4622 Page1

EXHIBIT A

(Attach Exhibit A from Investment Agreement)

[TO BE ATTACHED ONLY BY FANNIE MAE’S TREASURY DEPARTMENT]

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