OWNER-OCCUPIED RETENTION AGREEMENTOwner-Occupied Retention Agreement • January 12th, 2024
THIS OWNER-OCCUPIED RETENTION AGREEMENT (“Agreement”) is effective as of the disbursement date, the day of , 20 (hereinafter the “Effective Date”), by , (hereinafter “Owner,” whether one or multiple individuals are named), purchasing the property at the address of , to and in the favor of (“Member”), having an address of .
OWNER-OCCUPIED RETENTION AGREEMENTOwner-Occupied Retention Agreement • September 25th, 2020
WHEREAS, the Federal Home Loan Bank of Chicago (the “Bank”), pursuant to regulations, including, without limitation, those contained in 12 CFR Part 1291 (the “AHP Regulations”) promulgated by the Federal Housing Finance Agency (“FHFA”), has established its Affordable Housing Program, including a set-aside program consisting of the Downpayment Plus® Program and the Downpayment Plus Advantage® Program (collectively “DPP”), which provides grants (or subsidies) to income-eligible home buyers for use as down payment, closing cost, counseling, or rehabilitation assistance in connection with the household’s purchase and/or rehabilitation of an owner-occupied unit to be used as the household’s primary residence, and the Competitive AHP (“Competitive”), which provides subsidies to competitively awarded projects, for use in the purchase, construction, or rehabilitation of an owner-occupied project by or for very low-, low-, or moderate-income households.
