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3 . Homes will be offered to a client only if the price is affordable to the client as determined by the program underwriting analysis embedded in the application for assistance . 4 . Each client will have three opportunities to reject a home or groups of homes offered and maintain his or her priority . After a third rejection , a client' s priority will fall to the bottom of the waiting list . XIV . Executing Sale Agreements with Buyers A . Requirement for Using Approved Sales Agreement Developer will use only a form of sales agreement approved by Grantee . B . Commitment letter for NSP3 Financing Simultaneous with executing a purchase agreement, Developer will issue a commitment letter for the exact amounts, or maximum amounts, of NSP3 Homeowner Financial Assistance that Buyer will be provided if the sale is completed . The commitment letter is intended , in part, to aid Buyer in obtaining a first mortgage loan . If an Applicant has not met all of the requirements for purchase, the commitment letter should be conditional upon meeting such requirements . The commitment letter will also be conditional upon no substantial changes occurring in the NSP3 Buyer' s employment or financial status at the time of closing . C . Disclosure Statement Prior to executing a sales agreement, Developer will provide the NSP3 Buyer with a second disclosure statement . ( See Section XI . I regarding the first disclosure statement . ) The second disclosure statement will reiterate the requirement for Buyer to attend pre- purchase counseling, with a check- off indicating whether Developer has a certificate of completion on file ( if applicable ) . The statement will also describe the availability and terms of Homeowner Financial Assistance, obligations for repayment of subsidies , and resale controls on homes sold ( if any ) . During the intake interview or subsequent face- to -face meeting, a representative of the developer will review these disclosures with the Applicant and be available to answer questions about them . No application may be approved unless disclosures are made as required . We Home Sale Closing Requirements A . Originating the Subsidy Recapture Lien Documents The amount of Homeowner Financial Assistance provided to a Buyer as provided in this Manual will be secured by a promissory note and mortgage with Grantee named as lien holder at 0% interest . All payments of principal will be deferred until buyer sells the home , transfers it , or violates the terms of the lien . This mortgage shall be forgiven only 20