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#2193583 - 09/24/18 06:40 PM ucc on contents, construction loan
Burgess Online
Diamond Poster

Registered: 01/27/04
Posts: 1581
construction loan in flood plain.
we are taking a ucc on the contents though of course no contents will be present until after building constructed.
Do we need to have a contents flood policy in place now or can we wait until after construction?
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Flood Compliance
#2193624 - 09/24/18 11:15 PM Re: ucc on contents, construction loan [Re: Burgess]
rlcarey Offline
10K Club

Registered: 07/16/01
Posts: 68315
Loc: Galveston, TX
Let's put it this way. No contents can be placed in the building until they are covered under a flood policy whether construction is complete or not. Then you are likely looking at a 30 delay in coverage, because the addition of contents coverage is not directly related to the new loan.
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