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� . Ntaintaining the property during the period of time that the property is owned by the sub - recipient . 6 . Assist the applicant with the home buying process . For properties acquired with NSP funds and sold to a qualifying household , the buyer household will obtain a principal mortgage from a financial institution , while the local government will provide the purchasing household with a second mortgage . The second mortgage will be for an amount that reflects the difference between the purchase price and the principal mortgage amount . The second mortgage will be a zero interest , deferred payment loan for an unlimited term and shall be due and payable on sale or transfer of the property . 5 . HOMEOWNERSHIP ASSISTANCE Indian River County will utilize NSP funding to assist with closing cost assistance . All NSP funds utilized as closing cost assistance will be secured by a second mortgage on the residence . The second mortgage shall be in the form of a zero interest Deferred Payment Loan ( DPL ) . The DPL will be for an unlimited term and will be due and payable at the transfer of ownership of the property . The Deferred Payment Loan will be recorded as a second mortgage on the property . The Deferred Payment Loan will remain in force until ownership of the property is transferred . There will be no principal reduction during the life of the Deferred Payment Loan . The full amount of the Deferred Payment will be due and payable at the transfer of ownership of the property . 6 . HOMEOWNERSHIP COUNSELING All prequalified applicants participating in the home ownership program will be required to attend a minimum of 8 hours of HUD certified homeownership counseling prior to purchasing a property and must provide documentation of completion of a homeownership counseling course prior to scheduling a property closing . The cost for the homeownership counseling course will be paid with NSP funding and must be scheduled through the local government or the sub - recipient . 7 . CONFLICT OF INTEREST Any member of the County Commission or CATF , any local government employee , any board member or employee of a sub - recipient organization , any contract worker who is directly related to anyone working in the NSP Program , or relatives of any of these individuals , as defined by HUD and Florida Statutes , shall be ineligible for program participation unless he/ she is granted a waiver by the local government and the Florida This prohibition against participation in the NSP Department of Community Affairs . shall continue for one year after an individual ' s relationship with the local government , sub - recipient or contract worker has terminated . 10