Common use of Structure of Assistance Clause in Contracts

Structure of Assistance. Homeowners receiving assistance will execute a secured Subordinate lien mortgage and note in favor of the MHA. Loan will be 0%, non-amortizing loan, forgivable over a 5 year term at 20% per year, which will be due on sale, transfer of the property, or when the property ceases to be the principal residence of the homeowner. If the primary lien is paid in full due to a no cash out, limited-term, refinance, the MHA may subordinate lien position in accordance with program guidelines. Mortgage will be recorded through public records and ongoing monitoring, repayments, discharges, and subordinations will be conducted by MHA. Any repayment of program funds will be re-invested back into program allocation. All funds remaining in the program will be returned to Treasury in accordance with the Agreement. Hardest Hit Funds will be available on a first come, first serve basis. The Lender/Servicer will determine terms of modification according to their internal guidelines. The Lender/Servicer will transmit modification terms to the MHA for review and agree to match MHA’s assistance dollar for dollar towards principal curtailment. Awarded funds will be remitted to Lender/Servicer to be applied towards the capitalized balance resulting in a reduction in existing principal on either the 1st or 2nd Mortgage. Lender/Servicer is required to provide timely communication of homeowner’s loan data to the MHA and agree to place collection and foreclosure activity on hold upon their acceptance of the homeowner into the Hardest Hit Funds Program; active foreclosure action to be canceled upon receipt of Hardest Hit Funds. Lender/Servicer is required to provide evidence of timely application of Hardest Hit Funds inclusive of their required minimum 1:1 match. Lender/Servicer is required to waive all accumulated late charges and non- sufficient funds (NSF) fees.

Structure of Assistance. Homeowners receiving assistance will execute a secured Subordinate lien mortgage and note in favor of the MHA. Loan will be 0%, non-amortizing loan, forgivable over a 5 year term at 20% per year, which will be due on sale, transfer of the property, or when the property ceases to be the principal residence of the homeowner. If the primary lien is paid in full due to a no cash out, limited-term, refinance, the MHA may subordinate lien position in accordance with program guidelines. Mortgage will be recorded through public records and ongoing monitoring, repayments, discharges, and subordinations will be conducted by MHA. Any repayment of program funds will be re-invested back into program allocation. All funds remaining in the program will be returned to Treasury in accordance with the Agreementafter December 31, 2017. Hardest Hit Funds will be available on a first come, first serve basis. The Lender/Servicer will determine terms of modification according to their internal guidelines. The Lender/Servicer will transmit modification terms to the MHA for review and agree to match MHA’s assistance dollar for dollar towards principal curtailment. Awarded funds will be remitted to Lender/Servicer to be applied towards the capitalized balance resulting in a reduction in existing principal on either the 1st or 2nd Mortgage. Lender/Servicer is required to provide timely communication of homeowner’s loan data to the MHA and agree to place collection and foreclosure activity on hold upon their acceptance of the homeowner into the Hardest Hit Funds Program; active foreclosure action to be canceled upon receipt of Hardest Hit Funds. Lender/Servicer is required to provide evidence of timely application of Hardest Hit Funds inclusive of their required minimum 1:1 match. Lender/Servicer is required to waive all accumulated late charges and non- sufficient funds (NSF) fees.

Structure of Assistance. Homeowners receiving assistance will execute a secured Subordinate subordinate lien mortgage and note in favor of the MHA. Loan will be 0%, non-amortizing loan, forgivable over a 5 year term at 20% per year, which will be due on sale, transfer of the property, or when the property ceases to be the principal residence of the homeowner. If the primary lien is paid in full due to a no cash out, limited-term, refinance, the MHA may be willing to subordinate lien position in accordance with program guidelinesposition. Mortgage will be recorded through public records and ongoing monitoring, repayments, discharges, and subordinations will be conducted by MHA. Any repayment of program funds will be re-invested back into program allocation. All funds remaining in the program will be returned to Treasury in accordance with the Agreementafter December 31, 2017. Hardest Hit Funds will be available on a first come, first serve basis. The Lender/Servicer will determine terms of modification according to their internal guidelines. The Lender/Servicer will transmit modification terms to the MHA for review and agree review. MHA will determine amount of assistance up to match MHA’s assistance dollar for dollar towards principal curtailmentprogram maximum based on delinquency amount or if the loan is current, based on amount required to improve negative equity position. Awarded funds will be remitted to Lender/Servicer to be applied towards the capitalized balance resulting in a reduction in existing principal on either the 1st or 2nd Mortgagebalance. Lender/Servicer is required to provide timely communication of homeowner’s loan data to the MHA and agree to place collection and foreclosure activity on hold upon their acceptance of the homeowner into the Hardest Hit Funds Program; active foreclosure action to be canceled upon receipt of Hardest Hit Funds. Lender/Servicer is required to provide evidence of timely application of Hardest Hit Funds inclusive of their required minimum 1:1 matchFunds. Lender/Servicer is required to waive all accumulated late charges and non- non-sufficient funds (NSF) fees.