Home Loan. Subject to the provisions of subsection (c) below, simple interest will accrue on the outstanding principal balance of the HOME Loan at a per annum rate of interest equal to three percent (3%), commencing on the date of disbursement.
Home Loan. Borrower shall use the HOME Loan for construction costs, in amounts consistent with the Approved Development Budget. Use of the HOME Loan for reimbursement of costs incurred prior to the date of this Agreement is subject to Section 92.206(d)(1) of the HOME Regulations.
Home Loan. Commission agrees, subject to the terms and conditions of this Agreement and in consideration of the representations, covenants and obligations of Borrower contained in this Agreement, to make the HOME Loan to Borrower, to be used solely for the purposes described herein.
Home Loan. Commission agrees, subject to the terms and conditions of this Agreement and in consideration of the representations, covenants and obligations of Borrower contained in this Agreement, to make the HOME Loan to Borrower, to be used solely for the purposes described herein. Commission acknowledges that the HOME Loan funds are to pay for costs not included within the HUD Capital Advance, as outlined in the Proposed Budget attached hereto as Exhibit "H". In the event Borrower secures financing in excess of that which is necessary to achieve complete construction of the Project, the Commission reserves the right to receive from Borrower a payment on the Note referred to in Section 2 of such excess amount, if approved by HUD.
Home Loan. In connection with Employee’s relocation to the Seattle area, Safeco provided Employee with a home purchase loan in the amount of $780,000. The principal amount, together with any accrued interest from the Termination Date, will be due one (1) year after the Termination Date. This is consistent with the original loan terms as reflected in that certain Promissory Note Secured by a Deed of Trust, dated October 8, 2001, and nothing contained in this Agreement or otherwise amends Employee’s obligations with respect to this loan in any manner.
Home Loan. Wichita GP irrevocably and unconditionally guarantees and covenants that the Partnership shall obtain the HOME Loan on the terms set forth in the Financing Summary concurrently with the execution of this Agreement. Wichita GP has obtained the Consent of AHF to the terms and forms of the HOME Loan Documents.
Home Loan. $ Buyer to obtain a Home Loan, either an equity loan or a reinance loan, on residence located at . This is a contingency of the purchase. The loan shall have a maximum interest rate of %, amortized over months and due and payable in months.
Home Loan. The outstanding agreement made with Executive concerning the purchase of Executive’s residence was modified as of the Effective Date so that the entire outstanding principal balance, together with all accrued interest, on the Effective Date was forgiven at such time. In addition, the Company shall reimburse the Executive for taxes incurred by the Executive in connection with such principal and interest forgiveness as of the Effective Date; and such reimbursement shall occur, and/or in its discretion the Company may pay directly to the applicable taxing authority in lieu of such tax reimbursement to the Executive, no later than ten (10) days after the Executive presents satisfactory documentation of the taxes incurred and a determination by the Company of the taxes incurred, provided that, except as provided in the next sentence, all payments to be made under this Section 4.3 must be made by the end of the Executive’s taxable year next following the Executive’s s taxable year in which the income recognition event occurs for tax purposes. Any right to reimbursement arising due to a tax audit or litigation addressing the existence or amount of a tax liability must be made by the end of the Executive’s taxable year following the Executive’s taxable year in which the taxes that are the subject of the audit or litigation are remitted to the taxing authorities or, where no such taxes are remitted, the end of the Executive’s taxable year following the year in which the audit is completed or there is a final and non-appealable settlement or the resolution of the litigation.
Home Loan. ADFA will provide a construction and permanent loan to the Project through HOME funding (the “HOME Loan”). The Home Loan will be evidenced by a promissory note in a form acceptable to ADFA (the “Note”). Absent any default, interest will accrue on the HOME Loan at an annual rate of one percent (1%), with equal amortizing payments of principal and interest as set forth in the Note to be paid monthly commencing one year after the placed-in-service date and continuing for a term of [NUMBER OF YEARS] years; provided that interest shall not begin to accrue on any HOME Loan funds advanced until one year after the placed-in-service date, when the first monthly payment of principal and interest under the Note is due.
Home Loan. As set forth in the HOME Note, the Borrower shall repay the outstanding principal amount of the HOME Loan of Four Million Seven Hundred Eighty Three Thousand Five Hundred Fifty Six and 00/100 ($4,783,556.00), plus accrued interest, in Annual Payments beginning June 1st of the year immediately following the Borrower’s payment of all outstanding principal, accrued interest, and penalties and fees, if any, on the CDBG Loan pursuant to the CDBG Note and the AHIF Loan pursuant to the AHIF Note, from the disbursement of Residual Receipts pursuant to Section 2.05(b) below.
