Occupancy Agreement

OCCUPANCY AGREEMENT THE UNDERSIGNED BORROWER(S) STATE: That, on the day of , 20 , I/We made application to for a mortgage on the following described property: THAT, as part of said mortgage application, I/We do hereby affirm that the paragraph checked below is a true statement of the intended usage of the property. CHECK ONE: ( ) I/We plan to occupy the property as a primary residence and that I/We acknowledge that by signing below that the holder of the Note can, at its option, demand payment in full of it if: (a) I/We don't occupy the property as my/our primary residence within thirty days from the date of the note or 30 days from the date of final disbursement, if a construction loan, and/or; (b) I or, if more than one person signs below, none of us occupy the property continuously as my/our primary residence for the life of the loan, the holder of the note has that right even if there is no other default under the loan documents by me/us. ( ) I/We plan to occupy this property as a part time residence. ( ) I/We plan to rent this property and use this solely as income producing property. DATED: ___________________________________________ _________________________________________ ____________________________________________ _________________________________________ American LegalNet, Inc. www.FormsWorkflow.com