1. NSP1 Time is Running Out Obligation

2. DHCD will have 100% of our NSP funds obligated by September 17, 2010. Acquisition Rehab Resale

3. Obligation- Acquisition Contract = Obligation Funding Reservation Packages Must be turned into DHCD within 24 hours of contract being accepted by lender Ratified contract Email from lender/listing agent- accepting offer Print screen from HMBI

4. Obligation- Rehab Contract = Obligation Rehab Obligation must be sent within 24 hours of signing a contract with your rehab contractor. Fax /Scan to your Rep NSP Obligation Cover Sheet (included in your electronic package) First Page of Rehab Contract

5. Obligation- Homeowner Contract = Obligation The obligation for a homebuyer can be met under 2 scenarios Sales Contract to purchase specific NSP home Homebuyer wishing to purchase an NSP home

6. Obligation- Homebuyer Homebuyer Obligation must be sent within 24 hours of signing a sales contract with a borrower. Fax/Scan to your Rep NSP Obligation Cover Sheet (included in your electronic package) First Page of Sales Contract

7. Obligation-Homeowner NSP Homebuyer can be obligated if all conditions below are met: Pre-approval letter from lender Homebuyers Education Class Certificate or signed commitment to attend Certification from Grantee that family is below 120% AMI Appendix 30 – Homebuyer Disclosure And Homebuyer Intent Letter Please find the new updated disclosures in your electronic package

8. Obligation Timeline Obligation of Acquisition Monies need to be wrapped up by 7/31/10 Obligations of Rehab Contracts need to be wrapped up by 8/10/10 Obligations of Homeowners (minimum 1 homeowner per unit you have/or will acquire) should be ongoing and completed by 8/10/10