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* a ' <br /> Program shall be occupied for the duration of the <br /> outstanding land bank acquisition loan by the same <br /> qualified eligible households who received the <br /> assistance . <br /> Upon sale of the assisted housing unit by the <br /> owner , repayment of the outstanding land bank loan <br /> amount shall be required and the affordability <br /> timeframe requirement terminated . <br /> v . Compliance Agreement and Security Instrument <br /> The county ' s Land Bank Acquisition Tax Deed <br /> Purchase Loan shall be secured by a mortgage in <br /> favor of Indian River County . This mortgage may be <br /> subordinated to construction and / or permanent <br /> mortgages applied to the same unit upon approval of <br /> the IRCLHAProgram Review Committee . This mortgage <br /> shall serve as the eligible recipient ' s contractual <br /> commitment to comply with the requirements of the <br /> IRCLHAProgram . <br /> d . Applicant Selection Criteria <br /> Applications are reviewed based on a first come first <br /> reviewed basis , and applicants are chosen per the <br /> following criteria as described in section III . D . 4 . of <br /> this plan . <br /> • Income Eligibility <br /> • Employment Verification <br /> • Asset Verification <br /> • Homebuyer Status <br /> • Credit Verification <br /> 48 <br />