Common use of Structure of Assistance Clause in Contracts

Structure of Assistance. All assistance is structured as a forgivable, non-recourse, non-amortizing loan, secured by a junior lien on the property. The loan is forgiven at a rate of 20% per year in years 6 through 10 of the loan term. This loan will only be repayable if the borrower sells the property before the forgiveness period expires and there is sufficient equity to pay the loan. All funds returned to the UBP may be recycled until December 31, 2017; thereafter they will be returned to Treasury.

Structure of Assistance. All assistance is structured as a forgivable, non-recourse, non-amortizing loan, secured by a junior lien on the property. The loan has a term of 10 years and is forgiven at a rate of 20% per year in years 6 through 10 of the loan term. This loan will only be repayable if If the borrower sells the property before the forgiveness period expires expires, all net sale proceeds up to the full principal balance outstanding will be due and there is sufficient equity payable to pay the loanIHCDA. All funds returned to the UBP may be recycled until December 31, 2017; thereafter thereafter, they will be returned to Treasury.

Structure of Assistance. All assistance is structured as a forgivable, non-recourse, non-non- amortizing loan, secured by a junior lien on the property. The loan has a term of 10 years and is forgiven at a rate of 20% per year in years 6 through 10 of the loan term. This loan will only be repayable if If the borrower sells the property before the forgiveness period expires expires, all net sale proceeds up to the full principal balance outstanding will be due and there is sufficient equity payable to pay the loanIHCDA. All funds returned to the UBP may shall be recycled until December 31, 2017; thereafter they will be returned to Treasuryin accordance with the Agreement.

Structure of Assistance. All assistance is structured as a forgivable, non-recourse, non-amortizing loan, secured by a junior lien on the property. The loan has a term of 10 years and is forgiven at a rate of 20% per year in years 6 through 10 of the loan term. This loan will only be repayable if If the borrower sells the property before the forgiveness period expires expires; all net sale proceeds up to the full principal balance outstanding will be due and there is sufficient equity payable to pay the loanIHCDA. All funds returned to the UBP may be recycled until December 31, 2017; thereafter they will be returned to Treasury.