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4. Forgiveness: The entire loan amount and interest accumulated will be forgiven after 10 years of occupancy (only rehabilitation loans in conjunction with CDBG funding will be forgiven in 5 years or upon death of the homeowner; whichever comes first). 5. Repayment: Not required as long as the loan is in good standing. 6. Default: The loan will be determined to be in default if any of the following occurs during the 10 or 5 year loan term: sale, transfer, or conveyance of property; conversion to a rental property; loss of homestead exemption status; failure to occupy the home as primary residence, or refinancing with cash out. If any of these occur, the outstanding balance will be due and payable. In cases where the qualifying homeowner(s) die(s) during the loan term (for loans that are not used in conjunction with CDBG funds), the loan may be assumed by a SHIP eligible heir who will occupy the home as a primary residence. If the legal heir is not SHIP eligible or chooses not to occupy the home, the outstanding balance of the loan will be due and payable. If the home is foreclosed on by a superior mortgage holder, the county will make an effort to recapture funds through the legal process if it is determined that adequate funds may be available to justify pursuing a repayment. 7. Property shall not be eligible to re -apply until after expiration of a 10 year rehab loan, except when utilization of disaster and/or emergency rehabilitation funds are necessary. f. Recipient Selection Criteria: Applicants will be ranked for assistance based on the timing that preliminary intake information is received with the priorities as described in section I of this plan. g. Sponsor/Developer Selection Criteria: N/A h. Additional Information: All work must be performed by licensed and insured contractors. Applicants applying for rehabilitation assistance loans must also provide a copy of the deed to their home. A complete application and all required documents must be submitted to the SHIP office when an applicant's queue number is reached and contacted by SHIP staff. Provided funding is available, more than one applicant will be pulled from the que list at the same time so that multiple applications can be processed and assistance provided at the same time. L Residential Construction'Hurricane Mitigation (RCMP): The county will match SHIP funds with My Safe Florida Home Funds for hurricane resistant retrofit improvements to owner occupied site built homes to reduce potential future hurricane damage. When available the county shall advertise the availability of My Safe Florida Home funds, accept applications from very low, low, 12