Review Lease and/or Lease Abstracts
Review Tenant Correspondence files
Review Tenant Estoppel Letters
Obtain Borrower’s Certification of Rent Roll
Take assignment of building leases.
Take assignment of Landlord’s Letter of Credit Rights
Take lien on Landlord’s account holding security deposits
Take lien on maintenance/management contracts on building, if appropriate
Inspect building(s) for occupancy and possible violations of zoning and deed restrictions
Inspect building(s) and real property for environmental issues
Conduct Sensitivity Analysis at various occupancy levels
Confirm appraisal assumes reasonable occupancy levels