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institution, payment of property taxes will be <br /> made through an escrow account. <br /> iii. Owner and Eligible Person Occupancy <br /> Verification <br /> Compliance verification with this requirement <br /> shall occur as needed. <br /> iv. Rental Rate Verification <br /> Compliance verification with this requirement <br /> shall be conducted on a once-a-year basis as a <br /> minimum; however, this compliance verification <br /> activity may be conducted on a more frequent <br /> or staggered basis. <br /> b. Non-compliance Notification <br /> The owners of housing units found not in compliance <br /> with the required IRCLHAProgram and Strategy <br /> requirements shall be notified that the unit has <br /> been found "not in compliance" and if the non- <br /> compliance status is not corrected within thirty <br /> (30) working days, the housing unit may be subject <br /> to foreclosure under the subordinate mortgage <br /> compliance agreement at the discretion of the <br /> Hoard of County Commissioners based upon the <br /> recommendation of the IRCLHAProgram Loan Review <br /> Committee. <br /> For housing units found to be chronic or repeat <br /> non-compliance units, the IRCLHAProgram shall have <br /> the authority to foreclose upon the housing units <br /> and take possession of the units from the owner. <br /> Chronic or repeat non-compliance shall be <br /> considered more than two (2) non-compliance <br /> findings in one year, or more than three (3) non- <br /> compliance findings in two (2) years. <br /> 8. Assisted Housing Unit Resale <br /> The resale of housing units assisted by the IRCLHAProgram <br /> will require coordination with Indian River County, and <br /> satisfaction of the mortgage or subordinated mortgage <br /> held by Indian River County. <br /> The resale of renter- and owner-occupied housing units <br /> assisted by the IRCLHAProgram shall be subject to <br /> repayment of the full loan amount and applicable accrued <br /> interest. <br /> 48 <br />