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Borges' The Library of Babel - It is such a brilliant yet abstract concept for a building that I'm not sure you could create an 'accurate' picture of it.Here is the full short story:The universe (which others call the Library) is composed of an indefinite and perhaps infinite number of hexagonal galleries, with vast air shafts between, surrounded by very low railings. From any of the hexagons one can see, interminably, the upper and lower floors. The distribution of the galleries is invariable. Twenty shelves, five long shelves per side, cover all the sides except two; their height, which is the distance from floor to ceiling, scarcely exceeds that of a normal bookcase. One of the free sides leads to a narrow hallway which opens onto another gallery, identical to the first and to all the rest. To the left and right of the hallway there are two very small closets. In the first, one may sleep standing up; in the other, satisfy one's fecal necessities. Also through here passes a spiral stairway, which sinks abysmally and soars upwards to remote distances. In the hallway there is a mirror which faithfully duplicates all appearances. Men usually infer from this mirror that the Library is not infinite (if it were, why this illusory duplication?); I prefer to dream that its polished surfaces represent and promise the infinite ... Light is provided by some spherical fruit which bear the name of lamps. There are two, transversally placed, in each hexagon. The light they emit is insufficient, incessant.Like all men of the Library, I have traveled in my youth; I have wandered in search of a book, perhaps the catalogue of catalogues; now that my eyes can hardly decipher what I write, I am preparing to die just a few leagues from the hexagon in which I was born. Once I am dead, there will be no lack of pious hands to throw me over the railing; my grave will be the fathomless air; my body will sink endlessly and decay and dissolve in the wind generated by the fall, which is infinite. I say that the Library is unending. The idealists argue that the hexagonal rooms are a necessary form of absolute space or, at least, of our intuition of space. They reason that a triangular or pentagonal room is inconceivable. (The mystics claim that their ecstasy reveals to them a circular chamber containing a great circular book, whose spine is continuous and which follows the complete circle of the walls; but their testimony is suspect; their words, obscure. This cyclical book is God.) Let it suffice now for me to repeat the classic dictum: The Library is a sphere whose exact center is any one of its hexagons and whose circumference is inaccessible.There are five shelves for each of the hexagon's walls; each shelf contains thirty-five books of uniform format; each book is of four hundred and ten pages; each page, of forty lines, each line, of some eighty letters which are black in color. There are also letters on the spine of each book; these letters do not indicate or prefigure what the pages will say. I know that this incoherence at one time seemed mysterious. Before summarizing the solution (whose discovery, in spite of its tragic projections, is perhaps the capital fact in history) I wish to recall a few axioms.First: The Library exists ab aeterno. This truth, whose immediate corollary is the future eternity of the world, cannot be placed in doubt by any reasonable mind. Man, the imperfect librarian, may be the product of chance or of malevolent demiurgi; the universe, with its elegant endowment of shelves, of enigmatical volumes, of inexhaustible stairways for the traveler and latrines for the seated librarian, can only be the work of a god. To perceive the distance between the divine and the human, it is enough to compare these crude wavering symbols which my fallible hand scrawls on the cover of a book, with the organic letters inside: punctual, delicate, perfectly black, inimitably symmetrical.Second: The orthographical symbols are twenty-five in number. This finding made it possible, three hundred years ago, to formulate a general theory of the Library and solve satisfactorily the problem which no conjecture had deciphered: the formless and chaotic nature of almost all the books. One which my father saw in a hexagon on circuit fifteen ninety-four was made up of the letters MCV, perversely repeated from the first line to the last. Another (very much consulted in this area) is a mere labyrinth of letters, but the next-to-last page says Oh time thy pyramids. This much is already known: for every sensible line of straightforward statement, there are leagues of senseless cacophonies, verbal jumbles and incoherences. (I know of an uncouth region whose librarians repudiate the vain and superstitious custom of finding a meaning in books and equate it with that of finding a meaning in dreams or in the chaotic lines of one's palm ... They admit that the inventors of this writing imitated the twenty-five natural symbols, but maintain that this application is accidental and that the books signify nothing in themselves. This dictum, we shall see, is not entirely fallacious.)For a long time it was believed that these impenetrable books corresponded to past or remote languages. It is true that the most ancient men, the first librarians, used a language quite different from the one we now speak; it is true that a few miles to the right the tongue is dialectical and that ninety floors farther up, it is incomprehensible. All this, I repeat, is true, but four hundred and ten pages of inalterable MCV's cannot correspond to any language, no matter how dialectical or rudimentary it may be. Some insinuated that each letter could influence the following one and that the value of MCV in the third line of page 71 was not the one the same series may have in another position on another page, but this vague thesis did not prevail. Others thought of cryptographs; generally, this conjecture has been accepted, though not in the sense in which it was formulated by its originators.Five hundred years ago, the chief of an upper hexagon came upon a book as confusing as the others, but which had nearly two pages of homogeneous lines. He showed his find to a wandering decoder who told him the lines were written in Portuguese; others said they were Yiddish. Within a century, the language was established: a Samoyedic Lithuanian dialect of Guarani, with classical Arabian inflections. The content was also deciphered: some notions of combinative analysis, illustrated with examples of variations with unlimited repetition. These examples made it possible for a librarian of genius to discover the fundamental law of the Library. This thinker observed that all the books, no matter how diverse they might be, are made up of the same elements: the space, the period, the comma, the twenty-two letters of the alphabet. He also alleged a fact which travelers have confirmed: In the vast Library there are no two identical books. From these two incontrovertible premises he deduced that the Library is total and that its shelves register all the possible combinations of the twenty-odd orthographical symbols (a number which, though extremely vast, is not infinite): Everything: the minutely detailed history of the future, the archangels' autobiographies, the faithful catalogues of the Library, thousands and thousands of false catalogues, the demonstration of the fallacy of those catalogues, the demonstration of the fallacy of the true catalogue, the Gnostic gospel of Basilides, the commentary on that gospel, the commentary on the commentary on that gospel, the true story of your death, the translation of every book in all languages, the interpolations of every book in all books.When it was proclaimed that the Library contained all books, the first impression was one of extravagant happiness. All men felt themselves to be the masters of an intact and secret treasure. There was no personal or world problem whose eloquent solution did not exist in some hexagon. The universe was justified, the universe suddenly usurped the unlimited dimensions of hope. At that time a great deal was said about the Vindications: books of apology and prophecy which vindicated for all time the acts of every man in the universe and retained prodigious arcana for his future. Thousands of the greedy abandoned their sweet native hexagons and rushed up the stairways, urged on by the vain intention of finding their Vindication. These pilgrims disputed in the narrow corridors, proferred dark curses, strangled each other on the divine stairways, flung the deceptive books into the air shafts, met their death cast down in a similar fashion by the inhabitants of remote regions. Others went mad ... The Vindications exist (I have seen two which refer to persons of the future, to persons who are perhaps not imaginary) but the searchers did not remember that the possibility of a man's finding his Vindication, or some treacherous variation thereof, can be computed as zero.At that time it was also hoped that a clarification of humanity's basic mysteries -- the origin of the Library and of time -- might be found. It is verisimilar that these grave mysteries could be explained in words: if the language of philosophers is not sufficient, the multiform Library will have produced the unprecedented language required, with its vocabularies and grammars. For four centuries now men have exhausted the hexagons ... There are official searchers, inquisitors. I have seen them in the performance of their function: they always arrive extremely tired from their journeys; they speak of a broken stairway which almost killed them; they talk with the librarian of galleries and stairs; sometimes they pick up the nearest volume and leaf through it, looking for infamous words. Obviously, no one expects to discover anything.As was natural, this inordinate hope was followed by an excessive depression. The certitude that some shelf in some hexagon held precious books and that these precious books were inaccessible, seemed almost intolerable. A blasphemous sect suggested that the searches should cease and that all men should juggle letters and symbols until they constructed, by an improbable gift of chance, these canonical books. The authorities were obliged to issue severe orders. The sect disappeared, but in my childhood I have seen old men who, for long periods of time, would hide in the latrines with some metal disks in a forbidden dice cup and feebly mimic the divine disorder.Others, inversely, believed that it was fundamental to eliminate useless works. They invaded the hexagons, showed credentials which were not always false, leafed through a volume with displeasure and condemned whole shelves: their hygienic, ascetic furor caused the senseless perdition of millions of books. Their name is execrated, but those who deplore the ``treasures'' destroyed by this frenzy neglect two notable facts. One: the Library is so enormous that any reduction of human origin is infinitesimal. The other: every copy is unique, irreplaceable, but (since the Library is total) there are always several hundred thousand imperfect facsimiles: works which differ only in a letter or a comma. Counter to general opinion, I venture to suppose that the consequences of the Purifiers' depredations have been exaggerated by the horror these fanatics produced. They were urged on by the delirium of trying to reach the books in the Crimson Hexagon: books whose format is smaller than usual, all-powerful, illustrated and magical.We also know of another superstition of that time: that of the Man of the Book. On some shelf in some hexagon (men reasoned) there must exist a book which is the formula and perfect compendium of all the rest: some librarian has gone through it and he is analogous to a god. In the language of this zone vestiges of this remote functionary's cult still persist. Many wandered in search of Him. For a century they have exhausted in vain the most varied areas. How could one locate the venerated and secret hexagon which housed Him? Someone proposed a regressive method: To locate book A, consult first book B which indicates A's position; to locate book B, consult first a book C, and so on to infinity ... In adventures such as these, I have squandered and wasted my years. It does not seem unlikely to me that there is a total book on some shelf of the universe; I pray to the unknown gods that a man -- just one, even though it were thousands of years ago! -- may have examined and read it. If honor and wisdom and happiness are not for me, let them be for others. Let heaven exist, though my place be in hell. Let me be outraged and annihilated, but for one instant, in one being, let Your enormous Library be justified. The impious maintain that nonsense is normal in the Library and that the reasonable (and even humble and pure coherence) is an almost miraculous exception. They speak (I know) of the ``feverish Library whose chance volumes are constantly in danger of changing into others and affirm, negate and confuse everything like a delirious divinity.'' These words, which not only denounce the disorder but exemplify it as well, notoriously prove their authors' abominable taste and desperate ignorance. In truth, the Library includes all verbal structures, all variations permitted by the twenty-five orthographical symbols, but not a single example of absolute nonsense. It is useless to observe that the best volume of the many hexagons under my administration is entitled The Combed Thunderclap and another The Plaster Cramp and another Axaxaxas mlö. These phrases, at first glance incoherent, can no doubt be justified in a cryptographical or allegorical manner; such a justification is verbal and, ex hypothesi, already figures in the Library. I cannot combine some charactersdhcmrlchtdjwhich the divine Library has not foreseen and which in one of its secret tongues do not contain a terrible meaning. No one can articulate a syllable which is not filled with tenderness and fear, which is not, in one of these languages, the powerful name of a god. To speak is to fall into tautology. This wordy and useless epistle already exists in one of the thirty volumes of the five shelves of one of the innumerable hexagons -- and its refutation as well. (An n number of possible languages use the same vocabulary; in some of them, the symbol library allows the correct definition a ubiquitous and lasting system of hexagonal galleries, but library is bread or pyramid or anything else, and these seven words which define it have another value. You who read me, are You sure of understanding my language?)The methodical task of writing distracts me from the present state of men. The certitude that everything has been written negates us or turns us into phantoms. I know of districts in which the young men prostrate themselves before books and kiss their pages in a barbarous manner, but they do not know how to decipher a single letter. Epidemics, heretical conflicts, peregrinations which inevitably degenerate into banditry, have decimated the population. I believe I have mentioned suicides, more and more frequent with the years. Perhaps my old age and fearfulness deceive me, but I suspect that the human species -- the unique species -- is about to be extinguished, but the Library will endure: illuminated, solitary, infinite, perfectly motionless, equipped with precious volumes, useless, incorruptible, secret.I have just written the word ``infinite.'' I have not interpolated this adjective out of rhetorical habit; I say that it is not illogical to think that the world is infinite. Those who judge it to be limited postulate that in remote places the corridors and stairways and hexagons can conceivably come to an end -- which is absurd. Those who imagine it to be without limit forget that the possible number of books does have such a limit. I venture to suggest this solution to the ancient problem: The Library is unlimited and cyclical. If an eternal traveler were to cross it in any direction, after centuries he would see that the same volumes were repeated in the same disorder (which, thus repeated, would be an order: the Order). My solitude is gladdened by this elegant hope.

It’s important for home buyers to understand that a mortgage commitment letter in NYC does not guarantee that the bank will fund your loan.As you will see from the NYC mortgage commitment letter sample below, there are many contingencies in place for the bank to revoke its loan commitment to you. If you’re about to submit an offer and deciding whether to waive the mortgage contingency, it’s important to understand what a mortgage commitment letter entails and how much assurance a loan commitment offers you in the first place.What does a NYC mortgage commitment letter sample look like?This is an example of a standard mortgage loan commitment letter that would be issued to a New York City condo or co-op apartment buyer. There are additional sections in this NYC mortgage commitment letter sample you should review such as Commitment Conditions.MORTGAGE LOAN COMMITMENTBorrower Name(s):Borrower Mailing Address:Lender:Property Address:Type of Property: [Condo, Co-op, etc.]Commitment Expiration Date:Date:It is a pleasure to notify you that your application for a mortgage loan has been approved subject to the following matters set forth below and on pages 2 and 3.INSTRUCTIONSPlease sign, date and return Lender’s copy of this Commitment, along with any required fees and items requested, to the Lender at the following address, within 15 days of the date hereof, or at the option of Lender, this Commitment shall become null and void. Should you have any questions, please contact:This approval is not a final commitment. Due to the fact that interest rates are subject to change without notice, your approved payment and loan amount may change if interest rates increase or decrease.EFFECTIVE DATE AND COMMITMENT FEEThis commitment will become effective upon compliance with the terms herein and, if applicable, the receipt of your check in the amount of any non-refundable commitment fee (“stand-by fee”). It is understood and agreed that if this mortgage loan is not settled in accordance with the terms and conditions of this commitment, the Lender shall retain this fee as earned charges for the origination and approval of this loan.AMOUNTS, TERMS AND FEESAmount of Loan $[Amount]Initial (Contract) Interest Rate [Rate]%Loan Term [Number] monthsAmortization TypeBalloon Term (if applicable) [X] monthsLoan TypeLien Position 1st LienPAYMENT (P&I)Your initial interest only principal and interest (P&I) amount is $[Amount]. This amount does not include any escrowed amounts and may change if there is a change in loan terms.ESCROW[ X ] An Escrow Account is not required.[ ] An Escrow Account is required.Even if an Escrow (Impound) Account is not required at time of settlement, subject to the terms of your specific loan documents, the Lender may set up and require an Account should the taxes or insurance on the subject property ever become delinquent.EVIDENCE OF TITLEThe Evidence of Title is to be provided to the Lender and must indicate no liens, encumbrances, or any adverse covenants or conditions to title unless approved by Lender. The Evidence of Title must be issued from a firm or source, and in a form, acceptable to Lender. Borrower will be charged for the cost of providing such title and the cost of recording documents, all of which will be ordered by Lender unless requested otherwise.CANCELLATIONThe Lender reserves the right to terminate this commitment prior to the settlement of the loan in the event of an adverse change in your personal or financial status, or if the improvements on the property are damaged by fire or other casualty.REQUIRED ITEMS OR CONDITIONSAll Items Listed on the Commitment Conditions Addendum Apply.THE FOLLOWING CONDITIONS MAY APPLY TO YOUR LOAN DEPENDING ON THE LOAN TYPE AND TERMS.BALLOON MATURITYA balloon loan matures before the loan is fully amortized. The balance of the loan will be due in a lump sum payment at maturity.FIRE AND EXTENDED COVERAGE INSURANCEPrior to settlement, we will require an original insurance policy and/or binder containing fire and extended coverage (i.e., windstorm, hurricane, hail damages, or any other perils that are normally included under an extended coverage endorsement) insurance in an amount equal to the lesser of 100% of the insurable value of the improvements, or the unpaid principal balance of the mortgage as long as it equals the minimum amount (80% of the insurable value of improvements) required to compensate for damage or loss on a replacement cost basis through a company acceptable to the Lender, and a receipt showing premiums paid in advance for one year. The insurance policy shall also contain a standard mortgage clause in favor of Lender. We cannot require you to obtain a policy which exceeds the guaranteed replacement cost of the improvements securing the loan.If the property is new construction and you are not able to occupy the property immediately after closing, you will be required to furnish an original fire/hazard insurance policy or binder, including a Builder’s Risk Rider. If this is a renovation of an existing dwelling that will remain occupied, a Builder’s Risk Rider is not necessary.GOVERNMENT INSURED LOANSLoan Commitments issued for these types of mortgage loans, including, but not limited to FmHA, RHS, FHA, and VA, are subject to all the terms and conditions of the Agency’s commitment, or the VA certificate of reasonable value, as well as the rules, and regulations, and all applicable requirements of the Farmers Home Administration, Rural Housing Service, Department of Housing and Urban Development, the Department of Veterans Affairs, and/or other state or municipal authority.FLOOD INSURANCEBy signing and accepting this commitment, you acknowledge that if the property securing this loan is in an area identified as having a special flood hazard you agree to these insurance requirements.Our policy, in order to best protect collateral interest, is to adhere to the more common industry practice of requiring flood coverage for the lesser of: the full 100% Replacement Cost Value or the maximum amount of insurance available under NFIP for the particular type of building; currently $250,000 per residential dwelling/condominium unit. A copy of the declaration page or application signed by the agent, along with proof premium has been paid, is required prior to closing.Flood insurance is mandatory now or in the future if this property has been or will be determined to be in an area which has a special flood hazard. Federal Law requires that flood insurance, available through any agent, must cover the lowest of: the outstanding principal balance of the loan[s]; the maximum amount of coverage allowed for the type of building under NFIP or the full replacement cost value of the building or contents securing the loan.TAX AND INSURANCE PAYMENTSMonthly deposits and initial deposits as determined by Lender are required to cover the payment of estimated annual real estate taxes, special assessments and, if applicable, FHA or Private Mortgage Insurance Premiums. Lender may also require additional deposits for hazard or other insurance if required for this loan. Such deposits are to be placed in a separate escrow or impound account.SPECIAL ASSESSMENTSIf required, all unpaid and future special assessment installments must be paid in full prior to, or at time of settlement.DOCUMENTATIONThe mortgage or deed of trust, note and other pertinent loan documents will be provided by Lender and must be signed by all applicants that are to be contractually liable under this obligation. Further, the mortgage or deed of trust must be signed by any non-applicant spouses if their signature is required under state law to create a valid lien, pass clear title, or waive unclear rights to property. Note: Samples of loan documents are available upon request.ADDITIONAL CONDITIONS FOR CONSTRUCTION LOANS.CONSTRUCTION LOANS: ONE PAYOUT AND MULTIPLE PAYOUTImprovements are to be built in a good and workman-like manner in strict accordance with plans and specifications furnished Lender and in compliance with applicable building codes. After completion, said improvements shall be approved by a representative of Lender and an occupancy permit shall be issued by local municipality. Any changes, whether they be additions, deletions, or alterations, of the plans and specifications, must be approved in writing by Lender in order that this loan commitment remain in effect.CONSTRUCTION LOANS: MULTIPLE PAYOUTEvidence must be submitted that the net proceeds of our loan are sufficient to complete the construction of the building, free and clear of all claims of Mechanic’s Liens for labor and material. All disbursements will be made upon the order of the borrower upon presentment of proper waivers of lien, subject to compliance inspections by the Department of Veterans Affairs, the Federal Housing Administration, or Lender, not to exceed 80% of the value of the work done. The remaining funds will be held back until the certificate of completion and/or occupancy certificate is issued.I (WE) accept the terms and Conditions of this Commitment and will notify Lender if there are any changes to the information provided on the application before the closing of the loan.Borrower DateCOMMITMENT ISSUED ON BEHALF OF LENDER BY:Take special note of the cancellation clause listed above. If you lose your job or suffer some other financial setback, the bank will have cause to terminate your loan commitment!What are some typical commitment conditions in a NYC mortgage commitment letter sample?This is an example of a some typical commitment conditions in a NYC mortgage commitment letter sample. Note the long check-list of tasks that must be completed in order for the lender’s commitment to be valid.COMMITMENT CONDITIONS(Attachment to Mortgage Loan Commitment)Borrower: The Closing Disclosure will be provided to you in advance of your closing indicating your loan terms and is followed by a government mandated waiting period before the actual closing occurs. Receipt of the Closing Disclosure does not indicate all loan conditions have been satisfied which must occur prior to closing. Changes of any kind that occur after the final Closing Disclosure has been delivered to you may result in an additional waiting period prior to closing.Borrower: This loan is also subject to all other lender specified conditions and must comply with all applicable federal, state, and local laws and regulations.Lender: Verification from the Lender’s Closing Agent / Attorney that a Recognition Agreement has been executed by the the Cooperative Board and received by the Closing Agent/AttorneyLender: Title to have Recorded UCC1 lien search at time of closingLender: Recognition agreements and stock certificate required at time of closingLender: This loan is approved for a maximum interest rate of — [ ]% (qualifying pmt)Lender: If the loan does not close by the expiration date of the credit documents which includes verification of employment, assets and credit, re-verification will be required. To avoid re-verification the loan must close by: [Date] (rate)Lender: Obtain a completed and signed Form 4506-T (written permission to request tax returns from the IRS) for all borrowers at and before closing. — ** rcvd prior to closing **Lender: Closing agent to verify borrower(s) identityLender: Fully executed and signed Social Security Administration release (form OMB #0960–0760)Lender: Loan was approved based on the following parameters: Debt to Income Ratio not to exceed [ ]%; Total Reserves required for Transaction are $[Amount] or 12mos (subject to change) plus closing cost & prepays of $[Amount] (subject to change). Required Liquid Funds for transaction can be no less than $[Amount]. If any of these parameters change, as required by product guidelines, the loan will be subject to re-underwriting.Lender: If the loan does not close by the expiration date of the following documents, re-verification will be required:Appraisal: [Date] Verbal VOE: [Date] Rate: [Date] Lien Search: [Date] Co-Op Approval: [Date]Lender: No subordinate financing allowedLender: Seller paid closing cost may not exceed actual costs, the maximum amount that can be paid is — $[Amount]Lender: No cash out to borrower(s) at closingNote that this hypothetical lender does not allow any subordinate financing. That means you won’t be able to take out a 2nd lien home equity line of credit at a later time. Please also note that if your purchase doesn’t close in time, the lender may need to re-do the underwriting process.Sample Mortgage Commitment Letter InstructionsCONGRATULATIONS!Your application for a [Bank Name] Co-op Loan has just been approved. Enclosed you will find a commitment letter which provides you with specific details regarding your loan approval. We urge you to read it carefully as it contains important information on the financing terms and the documentation that is required in order to close your loan.WHAT ARE THE NEXT STEPS?You must sign the commitment and return it to us within ten (10) days of the commitment or before the expiration date, whichever is sooner with any fees specified. Please note that this commitment letter contains two critical dates. If you elected to lock in your interest rate and points there is a rate expiration date. If you do not close your loan on or before the rate expiration date, the terms and conditions will change.In addition, there is credit document expiration date. If you do not close your loan on before this date you will need to satisfactorily update certain credit documents in order for the terms and conditions of this commitment letter to apply. If your rate and points have not been locked, the rate expiration date will be established once you elect to lock in your rate. You must lock in your rate at least five business days prior to loan closing.Please read the commitment letter and riders carefully, as they contain conditions that must be satisfied prior to your loan closing. It is incumbent upon you to make sure that we are in receipt of all items listed. These items must be reviewed and approved at least three (3) days prior to loan closing. Again we must emphasize that you cannot close your loan unless all these items have been satisfied.We have notified the closing attorney for [Bank Name] of this loan transaction.Arrangement and instructions for closing your loan should be obtained by contacting the [Bank Name] attorney named in your commitment letter. A loan closing can be scheduled shortly after all necessary documents have been received by [Bank Name].The [Bank Name] attorney will be able to provide you with specific information regarding the following:-Closing Date-Closing Location-Prepaid Interest and Escrow Funds-Co-op Lien Search Requirements-Survey Coverage Requirements-Insurance Requirements (Hazard/Flood/Condominium/Co-op)We encourage you to have your attorney contact the [Bank Name] closing attorney to review the requirements. This should help to ensure that your closing goes smoothly.Thank you for choosing [Bank Name] for your financing needs. We are delighted to have you as a client.What are sample closing conditions in NYC?Dear [Borrower],We have received today from [Bank Name] a copy of a commitment letter for a co-op loan and will represent [Bank Name] at the closing. Please be advised that we cannot schedule a closing unless we receive confirmation that the conditions required by [Bank Name], prior to closing, have been satisfied and the conditions required at closing will be obtainable and brought to the loan closing.Enclosed with this letter you will find three copies of Recognition Agreements. The Recognition Agreement must be delivered to and executed by an Officer of the Cooperative Corporation. The fully executed Recognition Agreement must be delivered to our office prior to loan closing or it must be brought to loan closing. We will be unable to close a co-op loan without the original executed Recognition Agreement with the corporate seal.Enclosed with this letter you will find a Uniform Commercial Code Authorization Form. This document must be signed by each person who will be on title and promptly returned to our office. This document is necessary for [Bank Name], to obtain a security interest in the cooperative. Upon our receipt and/or confirmation of certain information i.e. section/block/lot numbers of the building same will be inserted in the financing statement prior to filing. Please be sure to note that the executed Uniform Commercial Code Authorization Form and the check required by paragraph 3 below must be remitted to our attention at the time you accept your commitment letter to a assure a timely closing.To ensure that [Bank Name] has a proper security interest, a Cooperative search of the appropriate records will be conducted solely for [Bank Name]’s benefit. The search will be ordered by our firm and will be reviewed and approved by our office prior to loan closing. Payment of the lien search must be remitted to our office at the time you send back the UCC-1 Authorization form. The cost of the search is $275.00 and the filing fee for the UCC-1 is $100.00. Please remit a check for $375.00 made payable to [Name] for the lien search and the recording of the financing statement.Unless paid prior to loan closing, all charges and fees due to [Bank Name] must be paid from the loan proceeds. If you call our office the day before loan closing, we will advise you of the exact amount being deducted from loan proceeds.The commitment letter has two expiration dates; one is the Commitment Expiration and one is the Rate Lock Expiration. The loan must close and funds must be disbursed on or before the earlier of the Commitment Expiration or the Lock-In Expiration. In the event the loan is a refinance transaction and it is subject to the required three (3) business-day right of recission it must close four (4) business days prior to the expiration of any applicable rate lock agreement.Please note that a closing cannot be scheduled until the following items have been completed:– We have been advised by [Bank Name] that all commitment conditions have been satisfied.– The U.C.C. -1 financing statement has been filed.– The co-op search has been reviewed and approved– We have a copy of the proposed Stock Certificate and the first page of the Proprietary Lease. At closing, the original Stock Certificate and Proprietary Lease must be delivered to [Bank Name] Closing Attorney.– We must be in receipt prior to or at loan closing of a blanket insurance policy for the co-op evidencing sufficient dwelling coverage.[Bank Name] requires at least two (2) business days to schedule a loan closing.We are committed to providing you with the highest level of customer service. If you should have any questions please feel free to call us at [Phone Number].Content courtesy of https://www.hauseit.com/nyc-mortgage-commitment-letter-sample/Disclosure: Hauseit and its affiliates do not provide tax, legal or accounting advice. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.

Would you believe me if I said that such a shelf exists? Well, it does! But it's not a shelf, but rather a library. And that library is called The Library of Babel. It is a short story by Argentine author and librarian Jorge Luis Borges (1899–1986).Enjoy:The universe (which others call the Library) is composed of an indefinite and perhaps infinite number of hexagonal galleries, with vast air shafts between, surrounded by very low railings. From any of the hexagons one can see, interminably, the upper and lower floors. The distribution of the galleries is invariable. Twenty shelves, five long shelves per side, cover all the sides except two; their height, which is the distance from floor to ceiling, scarcely exceeds that of a normal bookcase. One of the free sides leads to a narrow hallway which opens onto another gallery, identical to the first and to all the rest. To the left and right of the hallway there are two very small closets. In the first, one may sleep standing up; in the other, satisfy one's fecal necessities. Also through here passes a spiral stairway, which sinks abysmally and soars upwards to remote distances. In the hallway there is a mirror which faithfully duplicates all appearances. Men usually infer from this mirror that the Library is not infinite (if it were, why this illusory duplication?); I prefer to dream that its polished surfaces represent and promise the infinite ... Light is provided by some spherical fruit which bear the name of lamps. There are two, transversally placed, in each hexagon. The light they emit is insufficient, incessant.Like all men of the Library, I have traveled in my youth; I have wandered in search of a book, perhaps the catalogue of catalogues; now that my eyes can hardly decipher what I write, I am preparing to die just a few leagues from the hexagon in which I was born. Once I am dead, there will be no lack of pious hands to throw me over the railing; my grave will be the fathomless air; my body will sink endlessly and decay and dissolve in the wind generated by the fall, which is infinite. I say that the Library is unending. The idealists argue that the hexagonal rooms are a necessary form of absolute space or, at least, of our intuition of space. They reason that a triangular or pentagonal room is inconceivable. (The mystics claim that their ecstasy reveals to them a circular chamber containing a great circular book, whose spine is continuous and which follows the complete circle of the walls; but their testimony is suspect; their words, obscure. This cyclical book is God.) Let it suffice now for me to repeat the classic dictum: The Library is a sphere whose exact center is any one of its hexagons and whose circumference is inaccessible.There are five shelves for each of the hexagon's walls; each shelf contains thirty-five books of uniform format; each book is of four hundred and ten pages; each page, of forty lines, each line, of some eighty letters which are black in color. There are also letters on the spine of each book; these letters do not indicate or prefigure what the pages will say. I know that this incoherence at one time seemed mysterious. Before summarizing the solution (whose discovery, in spite of its tragic projections, is perhaps the capital fact in history) I wish to recall a few axioms.First: The Library exists ab aeterno. This truth, whose immediate corollary is the future eternity of the world, cannot be placed in doubt by any reasonable mind. Man, the imperfect librarian, may be the product of chance or of malevolent demiurgi; the universe, with its elegant endowment of shelves, of enigmatical volumes, of inexhaustible stairways for the traveler and latrines for the seated librarian, can only be the work of a god. To perceive the distance between the divine and the human, it is enough to compare these crude wavering symbols which my fallible hand scrawls on the cover of a book, with the organic letters inside: punctual, delicate, perfectly black, inimitably symmetrical.Second: The orthographical symbols are twenty-five in number. (1) This finding made it possible, three hundred years ago, to formulate a general theory of the Library and solve satisfactorily the problem which no conjecture had deciphered: the formless and chaotic nature of almost all the books. One which my father saw in a hexagon on circuit fifteen ninety-four was made up of the letters MCV, perversely repeated from the first line to the last. Another (very much consulted in this area) is a mere labyrinth of letters, but the next-to-last page says Oh time thy pyramids. This much is already known: for every sensible line of straightforward statement, there are leagues of senseless cacophonies, verbal jumbles and incoherences. (I know of an uncouth region whose librarians repudiate the vain and superstitious custom of finding a meaning in books and equate it with that of finding a meaning in dreams or in the chaotic lines of one's palm ... They admit that the inventors of this writing imitated the twenty-five natural symbols, but maintain that this application is accidental and that the books signify nothing in themselves. This dictum, we shall see, is not entirely fallacious.)For a long time it was believed that these impenetrable books corresponded to past or remote languages. It is true that the most ancient men, the first librarians, used a language quite different from the one we now speak; it is true that a few miles to the right the tongue is dialectical and that ninety floors farther up, it is incomprehensible. All this, I repeat, is true, but four hundred and ten pages of inalterable MCV's cannot correspond to any language, no matter how dialectical or rudimentary it may be. Some insinuated that each letter could influence the following one and that the value of MCV in the third line of page 71 was not the one the same series may have in another position on another page, but this vague thesis did not prevail. Others thought of cryptographs; generally, this conjecture has been accepted, though not in the sense in which it was formulated by its originators.Five hundred years ago, the chief of an upper hexagon (2) came upon a book as confusing as the others, but which had nearly two pages of homogeneous lines. He showed his find to a wandering decoder who told him the lines were written in Portuguese; others said they were Yiddish. Within a century, the language was established: a Samoyedic Lithuanian dialect of Guarani, with classical Arabian inflections. The content was also deciphered: some notions of combinative analysis, illustrated with examples of variations with unlimited repetition. These examples made it possible for a librarian of genius to discover the fundamental law of the Library. This thinker observed that all the books, no matter how diverse they might be, are made up of the same elements: the space, the period, the comma, the twenty-two letters of the alphabet. He also alleged a fact which travelers have confirmed: In the vast Library there are no two identical books. From these two incontrovertible premises he deduced that the Library is total and that its shelves register all the possible combinations of the twenty-odd orthographical symbols (a number which, though extremely vast, is not infinite): Everything: the minutely detailed history of the future, the archangels' autobiographies, the faithful catalogues of the Library, thousands and thousands of false catalogues, the demonstration of the fallacy of those catalogues, the demonstration of the fallacy of the true catalogue, the Gnostic gospel of Basilides, the commentary on that gospel, the commentary on the commentary on that gospel, the true story of your death, the translation of every book in all languages, the interpolations of every book in all books.When it was proclaimed that the Library contained all books, the first impression was one of extravagant happiness. All men felt themselves to be the masters of an intact and secret treasure. There was no personal or world problem whose eloquent solution did not exist in some hexagon. The universe was justified, the universe suddenly usurped the unlimited dimensions of hope. At that time a great deal was said about the Vindications: books of apology and prophecy which vindicated for all time the acts of every man in the universe and retained prodigious arcana for his future. Thousands of the greedy abandoned their sweet native hexagons and rushed up the stairways, urged on by the vain intention of finding their Vindication. These pilgrims disputed in the narrow corridors, proferred dark curses, strangled each other on the divine stairways, flung the deceptive books into the air shafts, met their death cast down in a similar fashion by the inhabitants of remote regions. Others went mad ... The Vindications exist (I have seen two which refer to persons of the future, to persons who are perhaps not imaginary) but the searchers did not remember that the possibility of a man's finding his Vindication, or some treacherous variation thereof, can be computed as zero.At that time it was also hoped that a clarification of humanity's basic mysteries -- the origin of the Library and of time -- might be found. It is verisimilar that these grave mysteries could be explained in words: if the language of philosophers is not sufficient, the multiform Library will have produced the unprecedented language required, with its vocabularies and grammars. For four centuries now men have exhausted the hexagons ... There are official searchers, inquisitors. I have seen them in the performance of their function: they always arrive extremely tired from their journeys; they speak of a broken stairway which almost killed them; they talk with the librarian of galleries and stairs; sometimes they pick up the nearest volume and leaf through it, looking for infamous words. Obviously, no one expects to discover anything.As was natural, this inordinate hope was followed by an excessive depression. The certitude that some shelf in some hexagon held precious books and that these precious books were inaccessible, seemed almost intolerable. A blasphemous sect suggested that the searches should cease and that all men should juggle letters and symbols until they constructed, by an improbable gift of chance, these canonical books. The authorities were obliged to issue severe orders. The sect disappeared, but in my childhood I have seen old men who, for long periods of time, would hide in the latrines with some metal disks in a forbidden dice cup and feebly mimic the divine disorder.Others, inversely, believed that it was fundamental to eliminate useless works. They invaded the hexagons, showed credentials which were not always false, leafed through a volume with displeasure and condemned whole shelves: their hygienic, ascetic furor caused the senseless perdition of millions of books. Their name is execrated, but those who deplore the "treasures'' destroyed by this frenzy neglect two notable facts. One: the Library is so enormous that any reduction of human origin is infinitesimal. The other: every copy is unique, irreplaceable, but (since the Library is total) there are always several hundred thousand imperfect facsimiles: works which differ only in a letter or a comma. Counter to general opinion, I venture to suppose that the consequences of the Purifiers' depredations have been exaggerated by the horror these fanatics produced. They were urged on by the delirium of trying to reach the books in the Crimson Hexagon: books whose format is smaller than usual, all-powerful, illustrated and magical.We also know of another superstition of that time: that of the Man of the Book. On some shelf in some hexagon (men reasoned) there must exist a book which is the formula and perfect compendium of all the rest: some librarian has gone through it and he is analogous to a god. In the language of this zone vestiges of this remote functionary's cult still persist. Many wandered in search of Him. For a century they have exhausted in vain the most varied areas. How could one locate the venerated and secret hexagon which housed Him? Someone proposed a regressive method: To locate book A, consult first book B which indicates A's position; to locate book B, consult first a book C, and so on to infinity ... In adventures such as these, I have squandered and wasted my years. It does not seem unlikely to me that there is a total book on some shelf of the universe; (3) I pray to the unknown gods that a man -- just one, even though it were thousands of years ago! -- may have examined and read it. If honor and wisdom and happiness are not for me, let them be for others. Let heaven exist, though my place be in hell. Let me be outraged and annihilated, but for one instant, in one being, let Your enormous Library be justified. The impious maintain that nonsense is normal in the Library and that the reasonable (and even humble and pure coherence) is an almost miraculous exception. They speak (I know) of the "feverish Library whose chance volumes are constantly in danger of changing into others and affirm, negate and confuse everything like a delirious divinity.'' These words, which not only denounce the disorder but exemplify it as well, notoriously prove their authors' abominable taste and desperate ignorance. In truth, the Library includes all verbal structures, all variations permitted by the twenty-five orthographical symbols, but not a single example of absolute nonsense. It is useless to observe that the best volume of the many hexagons under my administration is entitled The Combed Thunderclap and another The Plaster Cramp and another Axaxaxas mlö. These phrases, at first glance incoherent, can no doubt be justified in a cryptographical or allegorical manner; such a justification is verbal and, ex hypothesi, already figures in the Library. I cannot combine some charactersdhcmrlchtdjwhich the divine Library has not foreseen and which in one of its secret tongues do not contain a terrible meaning. No one can articulate a syllable which is not filled with tenderness and fear, which is not, in one of these languages, the powerful name of a god. To speak is to fall into tautology. This wordy and useless epistle already exists in one of the thirty volumes of the five shelves of one of the innumerable hexagons -- and its refutation as well. (An n number of possible languages use the same vocabulary; in some of them, the symbol library allows the correct definition a ubiquitous and lasting system of hexagonal galleries, but library is bread or pyramid or anything else, and these seven words which define it have another value. You who read me, are You sure of understanding my language?)The methodical task of writing distracts me from the present state of men. The certitude that everything has been written negates us or turns us into phantoms. I know of districts in which the young men prostrate themselves before books and kiss their pages in a barbarous manner, but they do not know how to decipher a single letter. Epidemics, heretical conflicts, peregrinations which inevitably degenerate into banditry, have decimated the population. I believe I have mentioned suicides, more and more frequent with the years. Perhaps my old age and fearfulness deceive me, but I suspect that the human species -- the unique species -- is about to be extinguished, but the Library will endure: illuminated, solitary, infinite, perfectly motionless, equipped with precious volumes, useless, incorruptible, secret.I have just written the word "infinite.'' I have not interpolated this adjective out of rhetorical habit; I say that it is not illogical to think that the world is infinite. Those who judge it to be limited postulate that in remote places the corridors and stairways and hexagons can conceivably come to an end -- which is absurd. Those who imagine it to be without limit forget that the possible number of books does have such a limit. I venture to suggest this solution to the ancient problem: The Library is unlimited and cyclical. If an eternal traveler were to cross it in any direction, after centuries he would see that the same volumes were repeated in the same disorder (which, thus repeated, would be an order: the Order). My solitude is gladdened by this elegant hope. (4)Translated by J. E. I.Notes1 The original manuscript does not contain digits or capital letters. The punctuation has been limited to the comma and the period. These two signs, the space and the twenty-two letters of the alphabet are the twenty-five symbols considered sufficient by this unknown author. (Editor's note.)2 Before, there was a man for every three hexagons. Suicide and pulmonary diseases have destroyed that proportion. A memory of unspeakable melancholy: at times I have traveled for many nights through corridors and along polished stairways without finding a single librarian.3 I repeat: it suffices that a book be possible for it to exist. Only the impossible is excluded. For example: no book can be a ladder, although no doubt there are books which discuss and negate and demonstrate this possibility and others whose structure corresponds to that of a ladder.4 Letizia Álvarez de Toledo has observed that this vast Library is useless: rigorously speaking, a single volume would be sufficient, a volume of ordinary format, printed in nine or ten point type, containing an infinite number if infinitely thin leaves. (In the early seventeenth century, Cavalieri said that all solid bodies are the superimposition of an infinite number of planes.) The handling of this silky vade mecum would not be convenient: each apparent page would unfold into other analogous ones; the inconceivable middle page would have no reverse.Sources:The Library of Babel (If you want to read the story with nice formatting, go here)The Library of Babel (Wikipedia): Can't recommend the article enough. Especially the Mathematical and Philosophical Implications.