Orange County NC Website
Browse       Search
16' <br />applicable Low- income House (the appraised value of each Low- income <br />House presently estimated to be $114,000.00). <br />N. "NCHFA" means the North Carolina Housing Finance <br />Agency. <br />O. "NCHFA Deed of Trust" means the third deed of trust <br />securing the NCHFA loan made to a Buyer, said document being in a form <br />materially similar to that attached to, and incorporated into, this <br />Agreement as Exhibit J. <br />P. "Nonmaterial Changes" in the case of any Low- income <br />House means changes in construction involving an increase in the <br />Corporation's costs of less than 5% of the appraised value of any said <br />Low-- income House (the appraised value of each Low- income House <br />presently estimated to be $114,000.00). <br />t <br />Q. "Permanent Lender" individually and "Permanent Lenders" <br />collectively mean the financial institution(s) or other lender(s) who <br />,extend(s) the loan(s) to Buyer(s) which is /are secured by a Permanent <br />Lender's Lien (hereinafter. - defined). <br />R. "Permanent Lender's Lien" means a first deed of trust <br />on a Low- income House, granted in order to secure a Permanent Lender's <br />loan, and being in a form similar to those attached to, and <br />incorporated into, this Agreement as Exhibit. I, except that nothing <br />herein shall be construed to require that the Permanent Lender must be <br />NCNB Mortgage Corporation or NCHFA. <br />S. "Property" means the real estate described in Exhibit A <br />attached to, and incorporated into, this Agreement. <br />- 6 - <br />