Form of Assistance Sample Clauses

Form of Assistance. All assistance is structured as a forgivable, non-recourse, non-interest bearing, non-amortizing loan, secured by a junior lien on the property. The loan has a term of five years. The first 20% of the loan will be forgiven 12 months after the loan closing. The remainder of the loan will be forgiven at a rate of 20% per annum thereafter. If the borrower sells the property before the loan is fully forgiven, all net sale proceeds, up to the full outstanding principal balance at the time of sale, will be due and payable to IHCDA. Payment requirements IHCDA will disburse IHAF assistance directly to mortgage lender/servicer, county treasurer or local taxing authority, condominium/homeowners’ association, and homeowner’s insurance. Monthly Assistance: IHCDA will make no more than six months of monthly mortgage payments directly to the lender under the monthly assistance program, and payments to the county treasurer or local taxing authority, condominium/homeowners’ association, and homeowner’s insurance as due while IHCDA is making said monthly payments. IHCDA will disburse the amount quoted by the lender/servicer; any discrepancies must be resolved by the homeowner and lender/servicer separately. If the homeowner’s past due amount exceeds the amount that IHCDA can provide, the homeowner may pay the difference directly to IHCDA prior to or at IHAF loan closing. Mortgage Monthly Assistance with Reinstatement Term Sheet Criteria Terms Brief description For qualifying homeowners whose financial hardship caused, or contributed to, an accumulated mortgage delinquency (including lender forbearance) that they cannot pay, and whose mortgage payments or related expenses are unaffordable based on their current household income, IHCDA may provide assistance to bring the homeowner’s mortgage current, followed by temporary monthly assistance to cover the homeowner’s first mortgage payments or related expenses. IHCDA will make no more than six months of monthly mortgage payments directly to the lender under the monthly assistance program, and payments to the county treasurer or local taxing authority, condominium/homeowners’ association, and homeowner’s insurance as due while IHCDA is making said monthly payments. Housing obligations as listed below are eligible uses of funds: • Existing first mortgage lien loan payment (principal and interest), escrow shortages. • Homeowner’s association fees, condominium association fees or common charges, including for lien extinguishment. ...
Sample 1
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Form of Assistance. MCRF loan assistance shall be provided in the form of an end loan, disbursed by the City upon the City’s receipt of a certificate of occupancy certifying completion of tenant improvements and installation of equipment, in the amount of One Hundred Twenty One Thousand Four Hundred Forty and 00/100 Dollars ($121,440.00) (“MCRF Loan”), representing $120,000.00 to be disbursed to Borrower at closing and $1,440.00 disbursed to Wisconsin Housing and Economic Development Authority (WHEDA) representing WHEDA’s 1.5% closing fee on a $96,000.00 WHEDA Small Business Guaranty. Said MCRF Loan proceeds to Borrower shall partially finance the machinery and equipment, furniture and fixtures and tenant improvements to the Property.
Sample 1
Form of Assistance. All assistance is structured as a forgivable, non-recourse, non-interest bearing, non-amortizing loan, secured by a junior lien on the property. The loan has a term of five years. The first 20% of the loan will be forgiven 12 months after the loan closing. The remainder of the loan will be forgiven at a rate of 20% per annum thereafter. If the borrower sells the property before the loan is fully forgiven, all net sale proceeds, up to the full outstanding principal balance at the time of sale, will be due and payable to IHCDA. Payment requirements IHCDA will disburse IHAF assistance directly to mortgage lender/servicer, county treasurer or local taxing authority, condominium/homeowners’ association, and homeowner’s insurance. Monthly Assistance with Reinstatement: IHCDA will make no more than six months of monthly mortgage payments directly to the lender under the monthly assistance program, and payments to the county treasurer or local taxing authority, condominium/homeowners’ association, and homeowner’s insurance as due while IHCDA is making said monthly payments. IHCDA will disburse the amount quoted by the lender/servicer; any discrepancies must be resolved by the homeowner and lender/servicer separately. If the homeowner’s past due amount exceeds the amount that IHCDA can provide, the homeowner may pay the difference directly to IHCDA prior to or at IHAF loan closing. IHCDA Homeowner Assistance Fund (HAF) Return of Funds Policy HHF Program Allowed Overage Up To How To Apply R – Reinstatement $1,500.00 First - apply to escrow if short Second - apply to Principal Last – Return to State
Sample 1
Form of Assistance. HOP funds will be used as a zero percent (0.00%) interest, deferred principal, subordinate mortgage loan in the amount of $ to assist with the purchase of a new home.
Sample 1

Related to Form of Assistance

  • Duration of Assistance Program funds will be distributed as a one-time payment to the servicer.

  • Plan of Assistance The Plan of Assistance is designed to be helpful. It is initiated when other means of the assistive process have not been successful and the supervisor determines that the classified employee needs additional assistance and support to maintain or achieve an acceptable level of performance.

  • Structure of Assistance The Program is envisioned as a revolving fund. The Program will make a five-year, non-recourse, zero-percent forgivable, non- amortizing loan in which a second lien is recorded on the property. Twenty percent of the loan will be forgiven for each year the loan is outstanding. If the property is sold or refinanced prior to the loan termination date, the Program will recover funds should sufficient equity be available from the transaction. The Program will recycle recovered funds in order to provide additional program assistance until December 31, 2017, at which time any recovered funds will be returned to Treasury.

  • Prohibition of Assignment This Agreement and the rights, duties and obligations hereunder may not be assigned or delegated by Consultant without the prior written consent of the Company. Any assignment of rights or delegation of duties or obligations hereunder made without such prior written consent shall be void and of no effect.

  • Notification of Assignment Any assignment that is not undertaken in accordance with the provisions set forth above shall be null and void ab initio. A Party making any assignment shall promptly notify the other Party of such assignment, regardless of whether consent is required. This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns.

  • Form of Undertaking Any written undertaking by the Indemnitee to repay any Expense Advances hereunder shall be unsecured and no interest shall be charged thereon.

  • PROVISION OF FINANCIAL ASSISTANCE 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 Clean Ohio Conservation Fund which constitutes the proceeds of the Infrastructure Bonds, in an amount not to exceed Thirty-Three Thousand, Four Hundred Dollars ($ 33,400). This financial assistance shall be provided in the form of a grant. APPENDIX D LOCAL SUBDIVISION CONTRIBUTION, PROJECT FINANCING AND EXPENSES SCHEME AND DISBURSEMENT RATIO

  • PROVISION OF FINANCIAL ASSISTANCE GRANT As authorized by Section II 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 One Hundred Four Thousand, Two Hundred Seventy-Four Dollars ($104,274). This financial assistance shall be provided in the form of a Grant. The OPWC Grant Control No. is CI40S. 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

  • PROCEDURE UPON APPLICATION FOR INDEMNIFICATION 12.1 A determination, if required by applicable law, with respect to Indemnitee’s entitlement to indemnification shall be made in the specific case by one of the following methods, which shall be at the election of Indemnitee: (i) by a majority vote of the Disinterested Directors, even though less than a quorum of the Board (ii) by Independent Counsel in a written opinion to the Board, a copy of which shall be delivered to Indemnitee; or (iii) by vote of the shareholders by ordinary resolution. The Company will promptly advise Indemnitee in writing with respect to any determination that Indemnitee is or is not entitled to indemnification, including a description of any reason or basis for which indemnification has been denied. If it is so determined that Indemnitee is entitled to indemnification, payment to Indemnitee shall be made within ten (10) days after such determination. Indemnitee shall reasonably cooperate with the person, persons or entity making such determination with respect to Indemnitee’s entitlement to indemnification, including providing to such person, persons or entity upon reasonable advance request any documentation or information which is not privileged or otherwise protected from disclosure and which is reasonably available to Indemnitee and reasonably necessary to such determination. Any costs or Expenses (including attorneys’ fees and disbursements) incurred by Indemnitee in so cooperating with the person, persons or entity making such determination shall be borne by the Company (irrespective of the determination as to Indemnitee’s entitlement to indemnification) and the Company hereby agrees to indemnify and to hold Indemnitee harmless therefrom.

  • Audit Assistance Each of the Parties and their respective Subsidiaries are or may be subject to regulation and audit by a Governmental Authority (including a Taxing Authority), standards organizations, customers or other parties to contracts with such Parties or their respective Subsidiaries under applicable Law, standards or contract provisions. If a Governmental Authority, standards organization, customer or other party to a contract with a Party or its Subsidiary exercises its right to examine or audit such Party’s or its Subsidiary’s books, records, documents or accounting practices and procedures pursuant to such applicable Law, standards or contract provisions, and such examination or audit relates to the Services, then the other Party shall provide, at the sole cost and expense of the requesting Party, all assistance reasonably requested by the Party that is subject to the examination or audit in responding to such examination or audits or requests for Information, to the extent that such assistance or Information is within the reasonable control of the cooperating Party and is related to the Services.

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