Although Hingham Institution for Savings (“the Bank”) has developed this program in conformance with Section 202 of the District of Columbia’s COVID-19 Response Supplemental Emergency Amendment Act of 2020 (the “Act”) and the Bank is aware of supplementary Department of Insurance, Securities, and Banking guidance on the Act indicating that it applies to any bank operating in the District of Columbia, the Bank reserves all of its rights to challenge the applicability of the Act to the Bank, as well as the legality of each provision of the Act.  Nothing in this program shall be construed as a waiver of any of the Bank’s rights in this respect.

Commercial mortgage borrowers with property located in the District of Columbia that believe they have experienced a hardship as a result of the COVID-19 pandemic that is covered by the District of Columbia's COVID-19 Response Supplemental Emergency Amendment Act of 2020 should contact the Bank via Assistant Vice President of Collections Kelly Connelly at [email protected] or 781-783-1787 for assistance.  

Borrowers seeking deferment under this program will be required to provide the below application.  In the event there are multiple borrowers, deferment will not be automatically granted to co-borrowers.  Each borrower must apply to receive consideration for deferment.  Upon review of the application, the Bank will determine whether the borrower(s) meet the criteria required under the Act and will inform the borrower of the disposition of the application.  Any deferment granted will not become effective until the same has been memorialized by a executed temporary modification agreement by both parties.

Borrowers should not that this program does not impact any of their other obligations under Deed of Trust, the Security Agreement, the Promissory Note, the Loan Agreement, or any other associated loan documents.  The Bank reserves all of its rights to enforce its remedies in the event of default.

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