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• Work with selected housing counselors to establish the eight (8) hour homebuyers course <br /> for resale program participants; and <br /> • Prepare the program closeout documents; <br /> The specific tasks to be undertaken by the Indian River County Housing Authority are : <br /> ■ Provide the county grant administrator with a list of NSP eligible housing units <br /> (foreclosed housing units owned by a financial institution) that the SUBRECIPIENT is <br /> aware of and is interested in obtaining; <br /> ■ From the list of eligible properties provided by the county grant administrator and other <br /> reliable listings and sources, identify which eligible housing units that the <br /> SUBRECIPIENT is interested in purchasing and rehabilitating as part of the CDBG NSP ; <br /> ■ Inspect housing units being considered for acquisition by the SUBRECIPIENT and <br /> reaffirm original recommendation to purchase the units, <br /> ■ Take title to the NSP housing units that the SUBRECIPIENT desires to acquire (after <br /> COUNTY has approved the acquisition); <br /> ■ Maintain the NSP properties acquired by the SUBRECIPIENT from the time of <br /> acquisition through their transfer of ownership to a homebuyer. Maintaining the <br /> properties shall include activating and maintaining all utilities, obtaining property owners <br /> and liability insurance as well as physically maintaining the property; <br /> ■ Maintain all records required by the NSP relating to the housing units and applicants that <br /> the SUBRECIPIENT acquires through the NSP and provide a copy to the county grant <br /> administrator; <br /> ■ Place a recorded deed restriction on each residential housing unit sold to a qualified <br /> homebuyer. The deed restriction shall limit the future sales of the residential housing <br /> unit to NSP income qualified homebuyers, as defined by the NSP program requirements . <br /> This shall be done to ensure that each residential housing unit purchased under the NSP <br /> program remains affordable. The life of the deed restriction shall correspond with the <br /> minimum amount of time required by DEPARTMENT that the NSP properties remain <br /> affordable. The deed restriction shall terminate if the entire amount of COUNTY ' s <br /> mortgage (NSP funds) is repaid to COUNTY. The deed restrictions shall be in a form <br /> acceptable to the County Attorney ' s Office ; <br /> ■ Place a recorded mortgage on each residential housing unit sold to a qualified <br /> homebuyer. The mortgage shall not be transferable unless the transfer is approved by <br /> COUNTY. The mortgage shall be due and payable to COUNTY upon sale of the <br /> housing unit by the homebuyer. The mortgage shall be for an amount equal to the sale <br /> price of the property, including all closing costs to be paid through the SUBRECIPIENT, <br /> less the total amount paid by the homebuyer with conventional mortgage financing <br /> obtained by the homebuyer for purchase of the property. The mortgage created herein <br /> 34 <br />