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with the TIF Administrator, and based on the program's acceptable risk undeiwriting <br /> standards, a third lien position may be approved. <br /> B. Other Provisions <br /> 1. Termination and Reapplication <br /> If a prospective borrower's application is denied by the Economic and Urban <br /> Development (EUD) due to noncompliance with program guidelines, the applicant can <br /> reapply to EUD for assistance at any time after the problems resulting in the application's <br /> termination have been conected. <br /> If a prospective borrower refuses rehabilitation assistance or otherwise terminates his/her <br /> case, the applicant cannot reapply for such assistance for twelve (12) months after the <br /> date of termination. <br /> 2. Repeat Policy I <br /> No applicant shall receive excessive housing reha.bilitation assistance --that is, more than <br /> one loan per unit per fiscal yeaz. <br /> Exceptions to this repeat policy may be granted by the EUD review committee on a case- <br /> by-case basis if the rehabilitation work is needed to (1) remedy a health, safety or <br /> accessibility issue or (2) improve or stabilize the city's fmancial investment in the <br /> property, provided the total indebtedness on the property does not exceed the program <br /> underwriting rules. <br /> 3. Program Income <br /> Repayment of any portion of the Deferred Forgivable loan will be considered as program <br /> income and used for future housing assistance programs. <br /> 4. Lien Priority <br /> The Economic and Urban Development Department will secure interest in the property <br /> for the program. The interest should be as a senior lien position if possible. If the loan <br /> meets the Program's acceptable risk underwriting standards, the security interest may be <br /> junior to all other mortgage liens secured by the property at the time of application. <br /> 5. Exceptions <br /> Exceptions to the tem�s and conditions set forth above, including those specifically <br /> discussed, will be considered on a case-by-case basis by the EUD Review Committee <br /> after consulta.tion with the TIF Administrator. <br /> 5 <br />