Down Payment Assistance Grant Sample Clauses

Down Payment Assistance Grant. The Lender, on behalf of the Division, shall advance down payment and closing cost assistance at Mortgage Loan closing in an amount of up to 4.00% of the principal amount of the Mortgage Loan (the “DPA Grant”) to eligible borrowers in accordance with the terms of the Program Administrator’s Guidelines. Such DPA Grant shall be applied solely to a down payment on the Mortgage Loan and/or to closing costs. Eligible Mortgage Loans reserved and closed under the Program must be submitted by the Lender for purchase on behalf of the Division by the Servicer pursuant to the terms of the Program. The Servicer on behalf of the Division shall reimburse the Lender for the DPA Grant advanced with respect to a Mortgage Loan upon its purchase from the Lender by the Servicer, and the Division in turn shall directly reimburse the Servicer for the DPA Grant. The DPA Grant is a true grant/gift and is not repayable by the borrower. A DPA Grant acknowledgement form or gift letter must be executed by the borrower.
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Down Payment Assistance Grant. The Lender, on behalf of the Authority, shall provide down payment assistance at Mortgage Loan closing in an amount equal to the approved percentage of the principal amount of the Mortgage Loan (the “DPA Grant”) to eligible borrowers in accordance with the terms of the Administrator’s Guidelines. Such DPA Grant shall be applied solely to a down payment on the Mortgage Loan and/or to closing costs. The Lender shall be reimbursed for such DPA Grant amounts advanced to eligible borrowers upon purchase of the related Mortgage Loan by U.S. Bank National Association, as servicer (the “Servicer”), pursuant to the terms of the Program. Eligible Mortgage Loans reserved and closed under the Program must be submitted for purchase on behalf of the Authority by the Servicer. The DPA Grant is a true grant/gift and is not repayable by the borrower.
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Related to Down Payment Assistance Grant

  • Rental Assistance Payment The rent due each month to the Owner under the Lease is identified in Exhibit A (the “Contract Rent”). The Owner shall not increase the Contract Rent during the term of this Contract. Owner/Representative Initials: The Program Administrator will provide a one time “Rental Assistance Payment” in the amount identified in Exhibit A to the Owner on behalf of the Tenant. The Rental Assistance Payment will be credited against the Contract Rent otherwise due under the Lease. The Tenant is responsible to the Owner for the “Tenant Contribution” identified in Exhibit A and any additional amounts due under the Lease not covered by the Rental Assistance Payment. Neither the Program Administrator nor the PJ assumes any obligation for the Tenant Contribution due monthly to the Owner, or the payment of any claim by the Owner against the Tenant. The Program Administrator's Rental Assistance Payment obligation is limited to making payment in the amount identified in Exhibit A on behalf of the Tenant to the Owner in accordance with this Contract.

  • Compensation for Mandatory Assistance City will compensate Contractor for fees incurred for providing Mandatory Assistance. If, however, the fees incurred for the Mandatory Assistance are determined, through resolution of the third party dispute or litigation, or both, to be attributable in whole, or in part, to the acts or omissions of Contractor, its agents, officers, and employees, Contractor shall reimburse City for all fees paid to Contractor, its agents, officers, and employees for Mandatory Assistance.

  • Rental Assistance Payments and Overpayment The right of the Owner to receive payments under this Contract shall be subject to compliance with this Contract’s provisions. The Owner agrees that, absent written notice to the Program Administrator and return of the Rental Assistance Payment, acceptance of the Rental Assistance Payment shall be conclusive evidence that the Owner received the full amount due. Throughout the term of this Contract, Owner agrees to waive any late fees associated with the Rental Assistance Payment, provided that such payment is issued by the Program Administrator by the agreed upon date. Owner/Representative Initials: If the Program Administrator determines that the Owner was not entitled to any payments received, in addition to other remedies, the Program Administrator may require Owner to refund any overpayment to the Program Administrator.

  • PROVISION OF FINANCIAL ASSISTANCE GRANT As authorized by Section 2 of this Agreement for the sole and express purpose of financing the Project defined and described in Appendix A of this Agreement, the estimated costs of which are set forth and described in Appendix D of this Agreement, the OPWC hereby agrees to provide financial assistance, subject to the terms and conditions contained in this Agreement, from the State Capital Improvements Fund which constitutes the proceeds of the Infrastructure Bonds, in an amount not to exceed Two Hundred Forty-Nine Thousand, Nine Hundred Ninety-Eight Dollars ($249,998). This financial assistance shall be provided in the form of a Grant. The OPWC Grant Control No. is CG10R. Once this grant amount is fully expended, the loan amount, which is part of this Project Agreement, will be drawn on for disbursing the remaining OPWC obligations contained in this Agreement. An exception applies if the loan amount is necessitated for the local share. In which case, grant and loan assistance will be disbursed concurrently. LOAN

  • Termination for Non-Payment We may terminate this Agreement with immediate effect by giving written notice to you if you fail to pay any amount due under this Agreement on the due date for payment and remain in default not less than thirty

  • Additional Services Compensation Additional Services Compensation shall be the fees determined in accordance with Article 7 to be paid by the Owner to the Professional Consultant in connection with the performance of Additional Services.

  • TUITION ASSISTANCE PROGRAM A. As part of the University policy to encourage staff members to further their formal education, the Tuition Assistance Program for Employees was established. Under the Tuition Assistance plan, qualified Employees will be issued vouchers which will enable them to register without paying tuition. (Incidental fees, however, must be paid by the Employee.)

  • Rental Assistance (Subsidy) Rental assistance will be provided to Eligible Households who pay 30% of their monthly net income, including Florida unemployment benefits, towards their monthly rent and have experienced a loss of job or income due to COVID-19.

  • Payment of Termination Payment The Defaulting Party shall make the Termination Payment within ten (10) Business Days after such notice is effective, regardless whether the Termination Payment calculation is disputed. If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Termination Payment, in whole or in part, the Defaulting Party shall within ten

  • Coronavirus Relief Fund – Rental Assistance Application The Coronavirus Relief Fund – Rental Assistance Application should contain all the necessary information to determine whether a Household is potentially eligible for CRF assistance. In accordance with the provisions of Sections 760.20-760.37, Fla. Stat., it is unlawful to discriminate on the basis of race, religion, color, sex, familial status, national origin, or handicap in the award application process for Eligible Housing.

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