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1. Rehabilitatiori that is Reconstruction: The lesser of S73.00 per square foot or $80,000, if the recolistruction includes actual costs for an aerobic septic system and/or demolition. If the reconstruction includes costs for an aerobic septic system and/or demolition, the total construction costs cannot exceed $73.00 per square foot exclusive of the aerobic septic system and demolition costs; and 2. rehabilitation that is not reconstruction: $30,000. Eaeh loan will be in the form of a zero percent (0%) interest loan far total amount of assistance provided with a term based on the income level of the household and in accordance with 10 TAC S 53.31 as follows: 1. Five-year deferred, forgivable loan for households whose income is less than or equal to thirty percent (30%) of the AMFI, as defined by HUD. 2. Fifteen-year deferred, forgivable loan for households whose income is greater than thirt_y percent (30%) and less than or equal to fifty percent (50%) of the AMFI, as defined by HUD. 3. Twenty-year deferred, forgivable loan for households whose income is greater than fifty percent (50%) and less than or equal to sixty percent (60%) of the AMFI, as defined by HUD. 4. Twenty-year term repayable loan for households whose income is greater than sixty percent (60%) and less than or equal to eighty percent (80%) of the AMFI, as defined by HUD. In instances where a manufactured housing unit will be replaced with newly constructed housing (site-built) or the homeowner will relocate to an alternate housing site, HOME assistance shall be in the form of a zero percent (0%) interest, deferred forgivable loan with a term based on the federal affordability requirements as defined in 24 CFR §92.254. For households whose income is at or below thirty percent (30%) of the area median family income, as defined by HUD, in accordance with the Housing Assistance Rider of the Department's Legislative Appropriation, Administrator may use the state average median family income in determining income eligibility for the program, and the form of assistance to determine the affordability period. All loans to assisted homeowners must be evidenced by loan documents provided by Department. Each loan to an assisted homeowner must be payable to Department. Each loan shall be evidenced by a construction loan agreement, note, deed of trust, mechanic's lien note, and mechanic's lien contract secured by the property and must be fully executed before any construction activities commence. Forgiveness of the loan balance is calculated based on a pro-rata annual share of the loan term. The anniversary date of the loan shall constitute completion of the year. Any partial year shall not be waived. The amount due will be based on the pro-rata share number of years of the remaining loan term. ATTACHMEN7'A HOME Contract # 1001053 Page 18 of 21 1~,1fl-y0