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occupied by a qualified eligible household for a <br />period of not less than fifteen (15) years. Upon r <br />completion of the fifteen (15) year affordability <br />timeframe, the outstanding rehabilitation loan and <br />its applicable accrued interest shall be due in <br />full for repayment to the IRCLHATF. Indian River <br />County Community Development Department staff will <br />monitor the household's eligibility on an annual <br />basis for the 15 year life of the rental <br />rehabilitation assistance loan period. <br />Upon the sale of any assisted single-family or <br />multiple -family housing unit by the owner, <br />repayment of the outstanding loan amount and <br />applicable accrued interest shall be required and <br />the affordability timeframe requirement terminated. <br />V. Compliance Agreement and Security Instrument <br />The county's Rehabilitation Loan shall be secured <br />by a mortgage in favor of Indian River County. <br />This mortgage may be subordinated to other <br />rehabilitation, construction, and/or permanent <br />mortgages applied to the same unit upon approval of <br />the IRCLHAProgram Review Committee. This mortgage <br />shall serve as the eligible recipient's contractual <br />commitment to comply with the requirements of the <br />IRCLHAProgram. l <br />6. Rehabilitation or Emergency Repair Grants <br />a. Description <br />The IRCLHAProgram anticipates providing rehabilitation <br />grants to eligible very low persons to fund all or a <br />portion of the cost of rehabilitating existing owner <br />occupied housing units. Rehabilitation grants will not <br />be awarded for rehabilitation work previously completed. <br />All rehabilitation work must be performed by licensed <br />contractors. Rehabilitation grants will not be awarded <br />for rehabilitation activities associated with <br />downpayment/closing cost loan assistance. <br />Rehabilitation grants may be awarded if needed <br />rehabilitation work activities include at least one of <br />the following types of activities which are essential to <br />make a house safe for habitation and/or to maintain the <br />house's structural integrity. <br />Roof, including replacement of all rotten wood <br />Plumbing work as needed <br />Electrical work as needed 1fto <br />28 <br />