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RIDER TO MULTIFAMILY LOAN AND SECURITY AGREEMENTREPAIR RESERVE FUND RADON TESTING AND RADON SCREENING WITH ADDITIONAL POSSIBLE RADON TESTING(Revised 552017)The following changes are made to the Loan
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Repair reserve fund is a fund set aside by an entity to cover the costs of future repairs and maintenance of its assets.
Entities that own properties or assets that require ongoing maintenance and repairs are required to file repair reserve fund.
To fill out a repair reserve fund, entities need to detail the current balance of the fund, projected future repair and maintenance costs, and any contributions or withdrawals made during the reporting period.
The purpose of repair reserve fund is to ensure that a sufficient amount of funds is set aside to cover the costs of future repairs and maintenance, preventing financial strain on the entity.
Information such as the current balance of the fund, projected future repair and maintenance costs, and any contributions or withdrawals made during the reporting period must be reported on repair reserve fund.
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