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Participants shall set aside a portion of their Program
<br />Allocation for origination of Mortgage Loans in certain designated
<br />Targeted Areas for a period ending one year from the Application
<br />Start Date, during which the Participant's Targeted Area Allocation
<br />in the amount specified in the Notice of Acceptance shall be used
<br />to purchase only Series A Mortgage Loans originated in Targeted
<br />Areas. The Participant shall use reasonable diligence to originate
<br />Series A Mortgage Loans for acquisition of Single Family Residences
<br />in Targeted Areas in an amount at least equal to the Participant's
<br />Targeted Area Allocation.
<br />Up to 33t of Series A Mortgage Loans originated from a
<br />Participant's Targeted Area Allocation may be utilized to originate
<br />Exception Targeted Area Loan3 to Mortgagors whose Current Annual
<br />V,.mily Income ,xcecds 1401 (120% far families with one or two
<br />mFrbirs) of the applicable rrredian family income but is not mire
<br />than 150% ot. the :4pplicable median family income, provided that
<br />each of such Ko taagors shall be Eligible Persons and Families and
<br />such Series A M,,rtgage mans x" ll otherwise satisfy all
<br />re"icements set tooth in the Origination Agreement. At no time
<br />during the Origination Period shall the &aggqregate principal amount
<br />of Exception Targeted Area Loans originated by the Participant and
<br />purchased by the Se ry i rs r ertcwd 311 of the aggregate pr i nc ► pa 1
<br />;.m,,unt of Targeted Axw Loans which have bona originated and
<br />t! , , t seed i roan the Vogt icipant ae of such slate .
<br />17
<br />litfia___iazaaLed-Btsaa
<br />Taraated
<br />Araaa•
<br />1 or 7.
<br />3 or More
<br />1 or 2
<br />3 or More
<br />Family
<br />Family
<br />Family
<br />Family
<br />MQM.s.:f
<br />s>1'A
<br />NUMLaYa
<br />mcmhers__
<br />Citrus County
<br />$40,000
<br />$46,000
<br />N/A
<br />N/A
<br />Escambia County
<br />40,000
<br />46,000
<br />$48,000
<br />$56,000
<br />Gadsden County
<br />42,900
<br />49,335
<br />N/A
<br />N/A
<br />Hardee County
<br />40,000
<br />46,000
<br />N/A
<br />N/A
<br />Hernando County
<br />40,000
<br />46,000
<br />N/A
<br />N/A
<br />Indian River County
<br />40,400
<br />46,460
<br />48,480
<br />56,560
<br />Leon County
<br />42,900
<br />49,335
<br />51,480
<br />60,060
<br />Marion County
<br />40,000
<br />46,000
<br />48,000
<br />56,000
<br />Okaloosa County
<br />40,000
<br />46,000
<br />N/A
<br />N/A
<br />Okeechobee County
<br />40,000
<br />46,000
<br />48,000
<br />56,000
<br />Santa Rosa County
<br />40,000
<br />46,000
<br />N/A
<br />N/A
<br />St. Lucie County
<br />42,700
<br />49,105
<br />51,240
<br />59,780
<br />Walton County
<br />40,000
<br />46,000
<br />N/A
<br />N/A
<br />+ Two-thirds (in
<br />principal amount) of Mortgage Loans
<br />originated
<br />to finance Single -Family Residences located in Targeted Areas
<br />are subject to the income
<br />limits set forth above, with the
<br />remaining 1/3 subject to an
<br />annual income
<br />limitation
<br />equal to
<br />150; of the
<br />applicable median family
<br />income
<br />subject to
<br />redetermination
<br />by the Authority as provided
<br />above.
<br />Participants shall set aside a portion of their Program
<br />Allocation for origination of Mortgage Loans in certain designated
<br />Targeted Areas for a period ending one year from the Application
<br />Start Date, during which the Participant's Targeted Area Allocation
<br />in the amount specified in the Notice of Acceptance shall be used
<br />to purchase only Series A Mortgage Loans originated in Targeted
<br />Areas. The Participant shall use reasonable diligence to originate
<br />Series A Mortgage Loans for acquisition of Single Family Residences
<br />in Targeted Areas in an amount at least equal to the Participant's
<br />Targeted Area Allocation.
<br />Up to 33t of Series A Mortgage Loans originated from a
<br />Participant's Targeted Area Allocation may be utilized to originate
<br />Exception Targeted Area Loan3 to Mortgagors whose Current Annual
<br />V,.mily Income ,xcecds 1401 (120% far families with one or two
<br />mFrbirs) of the applicable rrredian family income but is not mire
<br />than 150% ot. the :4pplicable median family income, provided that
<br />each of such Ko taagors shall be Eligible Persons and Families and
<br />such Series A M,,rtgage mans x" ll otherwise satisfy all
<br />re"icements set tooth in the Origination Agreement. At no time
<br />during the Origination Period shall the &aggqregate principal amount
<br />of Exception Targeted Area Loans originated by the Participant and
<br />purchased by the Se ry i rs r ertcwd 311 of the aggregate pr i nc ► pa 1
<br />;.m,,unt of Targeted Axw Loans which have bona originated and
<br />t! , , t seed i roan the Vogt icipant ae of such slate .
<br />17
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