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3. If applicable, the City/NNRHA will issue written approval a week prior to the closing
date.
4. City and/or /NNRHA will be provided with a copy of the final, executed HUD-1
Settlement Statement, Promissory Note, and recorded Deed of Trust three days in
advance of the closing date.
5. If written permission is not granted by the City/NNRHA allowing the refinance of the
Senior Lien, the DPA OR Soft Second Loan will become immediately due and payable
prior to closing the refinance.
6. If written permission is granted by the City/NNRHA and it is determined that the
refinancing action does not meet the conditions as stated above, the DPA OR Soft
second Loan will become immediately due and payable prior to closing the refinance.
7. Home Equity loans will trigger the repayment requirements of the DPA OR soft second
Programs loans.
8. The DPA OR Soft Second Notes must be paid-in-full in order for the City/NNRHA to
execute a release of lien.
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