Lending to a developer

[Arturo Herrera]

I'm considering lending money to a developer to partially fund a new project. I have high level details on the project and think their terms (interest/timeline) are fair. This would be my 1st time lending money in any capacity.

1) Besides the lending agreement and Deed of Trust, any other agreements I should be looking out for?

2) As far as costs, what else besides legal fees to review the agreements should I be aware of?

3) Payments, how are these handled? Does the developer have all control in making and applying my interest payments or does a 3rd party usually do this? 

4) How does closing on the loan happen, similar to when we close on mortgages or do I just sign the agreement and done?

Appreciate any insight on this type of transaction. Open to hearing others experiences as well.