Pursuant to the terms of your Deed of Trust, you are required to insure your property for the full insurable value on a replacement cost basis. Evidence of Property Insurance must be provided and kept current for the life of loan by the owner of the property. Capital CDC is to be listed as a second mortgagee and/or loss payee, worded as follows:
c/o Capital Certified Development Corporation
1250 Capital of Texas Highway South, Building 1, Suite 600
Austin , Texas 78746
Please have your agent forward a copy of your policy to our office.
Businesses deemed to be located in a flood zone must purchase Flood Insurance on the property. Flood Insurance must be provided for and kept current for the life of the loan by the owner of the property.
If there has been a change in the flood zone where you are located and you feel insurance is no longer needed, please call the Austin Headquarters Office Attn: Aaron Milligan, Portfolio Manager, at (512) 615-0362 or (800) 504-2232 and ask that the requirement be removed.
A Financial Statement is a written report that reflects the financial condition of an individual or business. Business Financial Statements include a balance sheet and income statement (profit and loss statement), and should be prepared by an independent qualified public accountant. A Year End refers to the fiscal year end of the operating small business.