The applicant submitting this application hereby acknowledges and agrees that the following statements are true:
I CERTIFY AND REPRESENT TO LENDER THAT THE FINANCING FOR WHICH THIS APPLICATION IS COMPLETED IS FOR BUSINESS, INVESTMENT, OR COMMERCIAL PURPOSES ONLY AND IS NOT FOR PERSONAL, HOUSEHOLD OR FAMILY USE AS DEFINED IN THE LAWS OF THE UNITED STATES AS THEY NOW EXIST.
Notwithstanding that the property for which this financing application is completed may consist of single or multi-family structures ultimately used for residential purposes by an end buyer, I am purchasing the property for commercial purposes as part of my business and for the purpose of making a profit. I hereby declare that I have no intention of making the property listed in this application my principal residence. Additionally, I declare that I have no intention of utilizing the property as a second home and/or any surviving spouse or family member shall not live in the property.
Any provisions relating to protections, rights, obligations or other matters relating to loans made for personal, household or family use are not applicable to this commercial purpose loan. I represent that I understand the difference between a consumer loan for personal purposes and a commercial loan for business purposes.
I realize the lender, broker, assignees, or successors rely upon the information contained in this application and this disclosure is made to induce lender to make a commercial loan secured by a deed of trust or mortgage on the property described above, and I agree that lender would not make a commercial loan if the facts were contrary to those contained in this disclosure.