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<br />in accordance with the Code, the United States; Treasury
<br />Department has published certain "safe harbor" average area
<br />purchase price limitations for residences financed by bond financed
<br />mortgage loans in the Counties. The Program establishes
<br />limitations on the acquisition cost of any Single Family Residence
<br />which comply with such "safe harbor" limitations. Thai Program
<br />requires that both the Eligible Persons and Families, and the
<br />sellers of the Single Family Residences supply an affidavit setting
<br />forth the acquisition cost of the Single Family Residence and
<br />certifying that the Single Family Residence is a completed
<br />residential unit that includes only such land as reasonably
<br />maintains the basic livability of the residence. The Code
<br />prohibits the financing of a residence which will be used in the
<br />trade or business of the mortgagor; accordingly, the Program
<br />requires that the Eligible Persons and Families certify that they
<br />do not expect to so use the mortgaged property. Under the Code,
<br />the Authority may rely on such affidavits for purposes of
<br />ascertaining compliance with these requirements.
<br />The Maximum Acquisition Price in the Counties as of the Bond
<br />Delivery Date for Series A Mortgage Loans originated on new and
<br />existing Single Family Residences in the Counties is as follows:
<br />Non-Targeted_Arcas Taraoted Areas
<br />New Existing New Existing
<br />HQM= domes Homos _liom w
<br />Citrus County $106,366 $98,523 N/A N/A
<br />Escambia County 106,366 98,523 $130,002 $120,417
<br />Gadsden County 106,366 90,056 N/A N/A
<br />Hardee County 106,366 98,523 N/A N/A
<br />Hernando County 88,680 83,491 N/A N/A
<br />Indian River County 106,366 98,523 130,002 17.0,417
<br />Leon County 106,366 90,056 130,002 11(),068
<br />Marion County 106,366 98,523 130,002 1:,.0,417
<br />Okaloosa County 106,366 98,523 N/A N/A
<br />Okeechobee County 106, 366 90,0!',6 130,002 1 20, -1 1'l
<br />Santa Rosa County 106,366 90,056 N/A t./A
<br />St. LUCis County 92,4644 9r>,68.1 111,212 1146"945
<br />Walton County 106, 61, ,+y, 521 N/A N!A
<br />The Maximum A—luisition Pt ice limitations are based .,n *sato
<br />harbor" average ar-,a purchase prices published by the United States
<br />Treasury Department and way be redetermined by the Authority from
<br />time to time. Maximum Acquisition Prime limits are also subject to
<br />the applicable nwvA/RMM limits for the Counties-
<br />The Cods doss not al lav proceeds of
<br />s qua t ted "ort gage issue to be used to acquire esaae mart gewe
<br />Rtherstry r ;rAtrtAq the Authority to apply avec P90000ft curly to
<br />m mir-oriltee"" mortgegssl . oc to rmtu� SKMing teems. aa. -pt
<br />camstrsetiem period loans. W idye !amus er other statim tsmposerV
<br />
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