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Exhibit I Disaster mitigation repair loans are deferred payment 10 year loan secured by a mortgage and note. The repayment of funds awarded as a disaster mitigation repair loan is not required, except in cases where the assisted housing unit is sold, refinanced with a cash out prior to termination of the unit's affordable classification timeframe (10 years) or occupied by someone other than the original loan recipient. In cases where the unit is sold, refinanced with a cash out, or occupied by someone else, the entire original loan amount and accumulated interest must be paid back. There will be a 0% simple interest rate for disaster mitigation repair 10 year loans. After 10 years the entire loan amount and accumulated interest is forgiven. Eligible persons may repay the entire amount of the loan at any time. In the event of the death of the homeowner, an income -eligible heir may assume the county SHIP loan as long as the home is utilized as the household's homesteaded property. f. Recipient Selection Criteria: Eligible applicants will be approved for assistance on a first qualified, first served basis subject to funding availability. Applicants will be chosen per the following criteria: i. Disaster -related rehabilitation needs ii. Income Eligibility iii. Disability Status To expedite approval process, a Disaster Self Certification of Income Form may be utilized. g. Other Disaster Mitigation Repair Loan Requirements: The county's SHIP program anticipates providing disaster repair 10 year loans to eligible, very low income, low-income, and moderate income households to fund all or a portion of the cost of disaster repair for existing single-family or condominium owner occupied housing units. Disaster repair loans will not be awarded for repair work previously completed. All disaster repair work must be performed by licensed contractors. Disaster loans may not duplicate repairs that may be done by the resident's homeowners insurance, FEMA, and similar assistances. Disaster repair loans may be awarded if needed for repair work activities which are essential to make a house safe for habitation and/or to prevent further damage to the house. Disaster repair loans may not be awarded in combination with a purchase assistance loan. Disaster repair loans will be used in the event of a natural, state, or federally declared disaster. SHIP funds may be provided for disaster associated repairs with only one written licensed contractor estimate and expedited approval process. Disaster repair loans may be awarded only for rehabilitation work activities related to a declared emergency or disaster. Disaster repair loans may be awarded for the following rehabilitation work activities. - 20 - 128