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An amount equal to five percent ( 5%) of the purchase price paid to the seller for the property being acquired shall be due and payable to Developer upon the acquisition of each property by Developer. One thousand dollars ($ 1,000) per unit will be paid upon final inspection approval by Grantee of the rehabilitation of each unit . An amount equal to five percent (5%) of the purchase price paid to the seller for the property shall be due and payable to Developer at the time of resale of the dwelling unit. It is understood by both parties that the Grantee, utilizing NSP funding, will pay all costs associated with the acquisition and rehabilitation of each property, including all closing costs and recording fees. It is understood by both parties that Developer is responsible for obtaining property insurance, coordinating yard maintenance, providing all utilities, paying all property taxes, and maintaining the acquired housing units; however, the cost of all services required for each housing unit, beginning at initial acquisition of the property by Developer and ending at resale of the property, will be paid by Grantee utilizing NSP funding or paid by the Developer and reimbursed by Grantee utilizing NSP funding. j . Allowed amount of NSP3 Homeowner Financial Assistance per buyer: The allowed amount of NSP3 Homeowner Financial Assistance per Buyer is described in the Program Manual . The total amount of Homeowner Financial Assistance will be recaptured and the obligation secured by a promissory note and mortgage with the Grantee named as lien holder, with an amount and terms as defined elsewhere in this section and in the Program Manual . k. Minimum cash contribution by buyer: Each buyer of an NSP3 home will provide a minimum amount of cash or family gifts toward the combined down payment and closing costs, as described in the Program Manual . I . Acquisition, rehabilitation/ construction and soft costs listed in Exhibit A are not subject to per-home cost limits on a line- item basis, but must be reasonable and ordinary costs of development and, in the aggregate, must conform to the per- home cost limits and average costs described in Section I (A) (4) . No NSP3 funds may be spent for purchases of equipment or furnishings. m . Accounting for expenditures : Developer will account for total NSP3 expenditures per home by means of assigning an accounting code for NSP34unded or reimbursed expenses for each property and another accounting code, if applicable, for non- NSP3 funded expenditures ( if any) . At the time of the sale of an NSP3-assisted home, Developer will provide Grantee with a complete accounting of NSP3 expenditures for that home and non- NSP3 expenditures, if any. The separate accounting of NSP3 and other funds used is required for establishing the maximum 4 Page Amended and Re-stated NSP3 Developer Agreement: July 2 , 2013