Common use of Structure of Assistance Clause in Contracts

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will be used to assist additional homeowners in accordance with the Agreement.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,00050,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all net equity proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will may be used to assist additional homeowners in accordance with the Agreementuntil December 31, 2017; thereafter they must be returned to Treasury.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,00050,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all net equity proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will be used to assist additional homeowners in accordance with the Agreement.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,00050,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all net equity proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will be used to assist additional homeowners borrowers in accordance with the Agreement.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will may be used to assist additional homeowners in accordance with the Agreementuntil December 31, 2017; thereafter they must be returned to Treasury.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,00050,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all net equity proceeds after payment of borrower’s closing Proposed costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will be used to assist additional homeowners in accordance with the Agreement.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 5 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will may be used to assist additional homeowners in accordance with the Agreementuntil December 31, 2017; thereafter they must be returned to Treasury.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,00050,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all net equity proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 5 percent) and the payment to the holders of the senior deeds of trust, primary mortgage lienholder will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will may be used to assist additional homeowners in accordance with the Agreementuntil December 31, 2017; thereafter they must be returned to Treasury.

Structure of Assistance. The assistance will be administered as a one-time direct payment to the servicer. The assistance will be structured as a 0% interest forgivable loan with no monthly payment evidenced by a promissory note with a sixty (60) month term. The loan will be secured by a junior lien on the property. If the borrower complies with the terms of the loan, the loan will be considered satisfied at the end of the sixty (60) month period following funding and the lien released. Borrowers will not always receive the maximum assistance amount of $35,00050,000. If the borrower defaults under the terms of the loan prior to the maturity date of the note evidencing the assistance loan, the loan will be due and payable to NAHAC. If the borrower sells the property or obtains a refinancing where the borrower is eligible to receive cash out of the transaction before the maturity date of the note, all net equity proceeds after payment of borrower’s closing costs (with the commission to real estate brokers, if applicable, by the borrower limited to 6 5 percent) and the payment to the holders of the senior deeds of trust, will be due and payable to NAHAC to satisfy payment of all or a portion of the loan funds. All funds returned to NAHAC will may be used to assist additional homeowners in accordance with the Agreementuntil December 31, 2017; thereafter they must be returned to Treasury.