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b. DPL financing is also used in the CDBG and DRI categories to provide assistance with housing rehabilitation and/or replacement of owner occupied, eligible units. The Deferred Payment Loan (DPL) involves a security instrument (lien) requiring repayment of the loan if the homeowner sells or transfers ownership of the rehabilitated home, ceases to use it as his/her primary residence within the date specified in the terms of the DPL, or fails to maintain reasonable required standards of care and maintenance. During the specified lien period the principal is forgiven or subtracted from the principal balance in equal annual amounts for CDBG and DRI rehabilitation loans, so that at the end of the specified term of owner occupancy (by at least one of the Applicants if owned jointly), the loan is fully amortized. There is no interest charged during this specified term agreement. c. In the event that the sole owner dies or both/all owners die within the specified loan period, repayment of the loan will not be required and the DPL is forgiven (i.e. it becomes fully amortized upon the death of the final owner). d. The assistance provided to each Applicant, at the time of closing, will be in the form of either a primary or secondary mortgage. The mortgage will be recorded in the Public Records of the County. The County will monitor possible triggers of the DPL repayment with annual title verification with online County services through the Clerk of Court and Appraisers offices and through visits to the assisted units. e. The primary affordability mechanism is a Deferred Payment Loan (DPL) at zero interest and is forgiven after 10 years.Except for Demo/Replacement, those Deferred Payment Loans at zero interest are forgiven after 20 years. NOTE: With regard to Demo/Replacement (new construction housing), DPL's must maintain long-term Affordability for the 20 year lien period. f. If repayment of a DPL becomes due, the (prorated for CDBG and DRI) principal balance will be due in full within thirty (30) days of the sale/transfer of ownership or the owner's cessation of primary residence at the property. If the owner is unable to make such payment, the County Commission may, at their discretion, and with FDEO approval, allow repayment of the DPL over a term not -to -exceed fifteen (15) years, at a yield of not more than one percent (1 %) interest per annum, and/or allow transfer or sale of the unit to another income qualified household for the remainder of the lien period. g. Homeowners whose household incomes do not exceed the HUD Section 8 low -to -moderate income limit will receive a Deferred Payment Loan for one hundred percent (100%) of the cost of rehabilitation. h. The maximum DPL for the regular CDBG and DRI categories for an owner -occupied single family dwelling for repairs or replacement is eighty thousand dollars_($80,000). 41