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(a) For owner-occupied single-family housing <br /> units: The unit shall be occupied for the duration <br /> of the outstanding rehabilitation loan by the same <br /> qualified eligible households who received the <br /> assistance. <br /> (b) For rental single-family housing units, and <br /> multiple-family housing units: The unit shall be <br /> occupied by a qualified eligible household for a <br /> period of not less than fifteen (15) years. Upon <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. <br /> Purr temere, the-mertgage-daeument-shall eete-t4w&4 <br /> based en-sha44 have the first eight_-so_ <br /> regusal €er purehase e€ tete-Tema! te3#tbhe unit be refused by lee&! nen pEefit <br /> based OrWmisatieasy -viveriv <br /> e 9%mev--nre7-A€€ee-��e�:,� <br /> tmit(s) fee sale an -- - -4 _, <br /> esbabe —tat-, <br /> 29 <br />