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("ll hc)USaRg units provided OF a66*6ted by the Ind_ia;A River County LOGal HGUSiRg A66*stanGe <br />kDrO.Meed. The ninety (90) peFGeRt 10FAit PFiGe 6hall be established by the United States <br />CeGtinn 3(b) 2 of the United <br />(b) The amount of menthly mortgage payments eF the arnount Of R;GRthly rents GhaFqed <br />(4_G) Loans to income eligible households for -ft9u6ings-u from the Indian River County Local <br />Housing Assistance Trust Fund shall be provided for periods not exceeding thirty (30) years. <br />However, deferred payment soft -second loans or loans that extend beyond thirty (30) years <br />may be provided with the condition that each assisted housing unit financed in either <br />manner must be occupied by income eligible persons for the same period of time as the <br />extended loan period. <br />(5 d) Whenever an owner -occupied housing unit which was purchased or rehabilitated with a <br />deferred payment loan GORstruGted, rehabilitated, or otheFwi6e assisted #GM preseeds <br />provided from the Indian River County Local Housing Assistance Program is sold, <br />refinanced with a cash out or occupied by someone other than the original loan recipient, <br />the entire loan amount and accumulated interest shall be due and payable to the local <br />housing assistance program. <br />The <br />funds obtained through these repayments FeGapture pmvisions shall be redeposited into the <br />Indian River County Local Housing Assistance Trust Fund for redistribution by the Indian <br />River County Local Housing Assistance Program. <br />eligible persons for the qFeateF of fifteeR (15) yeaFs or the teFM of the assi6tanGe. <br />Eligible 6pen6ers who 9#er eligible reRtal housing for 6ale be fifteen (15) yeaF6 9 <br />that have - . . - rtgage6 funded undeF the Indian RiveF GouRty LOGal Housing <br />Assi6taAGe ProgFam must give a f*FSt Fight of Fefu6al to eligible nGRPFGfwt organizatiOR6 <br />by eligible s. <br />