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6 . Transfer / Dispersal of Funds for Housing Units <br /> Prior to the actual transfer or dispersal of funds from <br /> the Indian River County Local Housing Assistance Trust <br /> Fund , the following activities and documentation shall be <br /> completed : <br /> a . Housing Unit Inspection / Certificate of Occupancy <br /> All eligible housing units shall receive <br /> satisfactory approval for occupancy via one of the <br /> following methods : <br /> i . For new unconstructed housing units : The funds <br /> awarded for construction of a new housing unit <br /> may be transferred or dispersed to the <br /> financial institution providing the <br /> construction loan for the housing unit for <br /> inclusion in the construction guarantee pool . <br /> ii . For existing or new constructed housing units : <br /> the financial institution providing the first <br /> mortgage must be satisfied that there ' is not <br /> any recorded building code violation prior to <br /> transfer or dispersal of the funds awarded via <br /> the IRCLHAProgram . <br /> iii . For rehabilitated housing units : a <br /> satisfactory final building code inspection <br /> shall be obtained prior to transfer or <br /> dispersal of the funds awarded via the <br /> IRCLHAProgram . <br /> b . Mortgage / Subordinated Mortgage Documentation <br /> All documentation relating to the mortgage and / or <br /> subordination of the mortgage which serves as the <br /> eligible recipient ' s contractual commitment to <br /> comply with the requirements of the IRCLHAProgram <br /> shall be completed and the mortgage document ( s ) <br /> prepared for filing in the public record . <br /> Preparation of the mortgage document ( s ) shall <br /> comply with all Federal , State , and Local <br /> regulations . <br /> The mortgage documentation shall specify the <br /> IRCLHAProgram Strategy assisting in the provision <br /> of the housing unit , the amount of the funding <br /> award for the unit , the commencement and <br /> termination dates for the unit ' s required <br /> affordability classification timeframe and unit <br /> resale requirements as applicable . <br /> In cases where the SHIP loan / grant recipient passes <br /> away , if the recipient ' s child ( beneficiary ) who <br /> 58 <br />