NOTE: "Principal(s)" is defined as the following participants:
All General Partners - where the general partner is a business entity, documentation of its Principals is also required.
All Limited Partners with ownership of 20% or more.
All stockholders with ownership of 20% or more.(In the case of a limited liability entity, Principal refers to the Managing Member and all other members with ownership of 20% or more.)
This form is required of all principals.
Project: __________________________________________
Principal: _________________________________________
Address: __________________________________________
City/State/Zip: _____________________________________
Tax ID/Social Security Number: _______________________
Is the Principal currently engaged in any business activity (s) other than the operation of the subject property?
[ ] Yes [ ] No If yes, please explain:
Has the Principal ever been engaged in any business activity(s) other than the operation of the subject property?
[ ] Yes [ ] No If yes, please explain:
Please provide a complete listing of all contingent liabilities of the Principal:
The following questions apply to any loan obligating the undersigned in any manner, irrespective of loan purpose or collateral.
Where answers to the following questions are "yes", provide a brief explanatory statement, in writing, supplementing and accompanying this Questionnaire. Questions apply only to transactions or affairs during the last ten years.
Has the Principal filed for bankruptcy or has any entity in which it was/is a partner or investor ever filed for bankruptcy, whether for reorganization or otherwise? [ ] Yes [ ] No
Has the Principal or any entity in which it was/is a partner or investor ever been involved in any loan obligation which resulted in the foreclosure of property? [ ] Yes [ ] No
Has the Principal or any entity in which it was/is a partner or investor ever been involved in any obligation that resulted in a deed-in-lieu of foreclosure of property? [ ] Yes [ ] No
Has the Principal or any entity in which it was/is a partner or investor been involved in any loan obligation that was involved in a loan restructuring or workout? [ ] Yes [ ] No
Has the Principal or any entity in which it was/is a partner or investor ever been involved in any loan obligation which experienced any delinquency or default or special servicing? [ ] Yes [ ] No
Has the Principal or any entity in which it was/is a partner or investor ever been involved in any real estate delinquency including but not limited to a) Franchise Fee, b) Property Taxes & Insurance? [ ] Yes [ ] No
Is the Principal a party in pending legal action in which there is a claim against it for damages? [ ] Yes [ ] No
Is the Principal a defendant in any pending legal action?
[ ] Yes [ ] No
Are there any unsatisfied judgments against the Principal?
[ ] Yes [ ] No
Has the Principal and/or any person related thereto ever been served with notice of any building code, environmental, health and licensing law? [ ] Yes [ ] No
To the best of your knowledge are there any proceedings or threatened proceedings before any court of law or
governmental agency, or do there exist any moratoriums that would interfere with, restrict, or forbid the furnishing of any utility services to the property? [ ] Yes [ ] No
The undersigned here by certifies that the answers to the questions contained herein are complete, true, and correct, and acknowledges Aries Capital, LLC, its successors and assigns, reliance thereon. Aries Capital, LLC is authorized to verify information furnished. Prior to loan closing, the undersigned agrees to provide Aries Capital, LLC, with a "Statement of No Adverse Change" with regard to all information contained herein. Further, the undersigned agrees to cooperate fully with respect to all credit investigation matters.
Principal: _____________________________________ Date: ________________________________________
By: __________________________________________ Title: _________________________________________