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Instructions for AHP Retention Documents

Affordable Housing Program
Owner-Occupied Project Promissory Note
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Owner-Occupied Promissory Note (.docx). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
 
Affordable Housing Program
Owner-Occupied Project Rider to Deed of Trust
 
This Rider to Deed of Trust is to be attached to a deed of trust prepared by the member that secures only the obligation evidenced by the AHP Promissory Note.  The AHP Rider must not be attached to a deed of trust that secures loan(s) on the AHP project other than the obligation evidenced by the AHP Promissory Note.
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Owner-Occupied Rider to Deed of Trust (.docx). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
 
Affordable Housing Program
Rental Project Promissory Note
 
Instructions
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Rental Promissory Note (.doc). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
Notes to Sections
 
Section 3: Repayment
The text in Section 3 may raise tax issues in projects utilizing low-income housing tax credits. Parties should consult their tax advisers concerning appropriate revisions to address such issues. The FHLB will not object to modifications or deletions intended to preserve the benefit of low-income housing tax credits so long as the Income and Affordability Restrictions remain in place for the Retention Period and repayment is required under the circumstances prescribed in the AHP regulations, which are generally those circumstances set forth in Sections 5 and 6.
 
Delete Section 3 if not applicable and state "This section left intentionally blank".
 
Section 7: Cure Rights
The FHLB understands that notice and cure rights of the kind described in this section may be requested for tax credit projects, but they are not required by AHP Regulations and FHLB has no objection to modification or deletion of this section.
 
Delete Section 7 if not applicable and state "This section left intentionally blank".
 
Section 14: Governing Laws
Delete the following text in this section if not applicable: [FOR FEDERALLY CHARTERED INSTITUTIONS: or to the extent such law restricts activities otherwise permitted to federally chartered savings banks in which event the laws, rules and regulations of the United States shall govern].
 
 
Affordable Housing Program
Rental Project Rider to Deed of Trust
 
Instructions
 
This Rider to Deed of Trust is to be attached to a deed of trust prepared by the member that secures only the obligation evidenced by the AHP Promissory Note.  The AHP Rider must not be attached to a deed of trust that secures loan(s) on the AHP project other than the obligation evidenced by the AHP Promissory Note.
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Rental Rider to Deed of Trust (.doc). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
Notes to Sections
 
Section 4: Cure Rights
The FHLB understands that notice and cure rights of the kind described in this section may be requested for tax credit projects, but they are not required by AHP Regulations and FHLB has no objection to modification or deletion of this section.
 
Delete Section 4 if not applicable and state "This section left intentionally blank".
 
Section 8: Three-Year Tax Credit Period
The FHLB understands this section may be required for tax credit projects but has no objection to its modification or deletion.
 
Delete Section 8 if not applicable and state "This section left intentionally blank".
 
Section 9: Permitted Transfers
This section is not required by AHP Regulations, and the FHLB has no objection to modification or deletion of this section to conform to Lender’s policies, procedures or underwriting requirements except that any replacement of a general partner requires approval by the FHLB.
 
Delete Section 9 if not applicable and state "This section left intentionally blank".
 
© 2000-2012 Federal Home Loan Bank of San Francisco
Federal Home Loan Bank of San Francisco

Instructions for AHP Retention Documents

Affordable Housing Program
Owner-Occupied Project Promissory Note
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Owner-Occupied Promissory Note (.docx). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
 
Affordable Housing Program
Owner-Occupied Project Rider to Deed of Trust
 
This Rider to Deed of Trust is to be attached to a deed of trust prepared by the member that secures only the obligation evidenced by the AHP Promissory Note.  The AHP Rider must not be attached to a deed of trust that secures loan(s) on the AHP project other than the obligation evidenced by the AHP Promissory Note.
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Owner-Occupied Rider to Deed of Trust (.docx). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
 
Affordable Housing Program
Rental Project Promissory Note
 
Instructions
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Rental Promissory Note (.doc). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
Notes to Sections
 
Section 3: Repayment
The text in Section 3 may raise tax issues in projects utilizing low-income housing tax credits. Parties should consult their tax advisers concerning appropriate revisions to address such issues. The FHLB will not object to modifications or deletions intended to preserve the benefit of low-income housing tax credits so long as the Income and Affordability Restrictions remain in place for the Retention Period and repayment is required under the circumstances prescribed in the AHP regulations, which are generally those circumstances set forth in Sections 5 and 6.
 
Delete Section 3 if not applicable and state "This section left intentionally blank".
 
Section 7: Cure Rights
The FHLB understands that notice and cure rights of the kind described in this section may be requested for tax credit projects, but they are not required by AHP Regulations and FHLB has no objection to modification or deletion of this section.
 
Delete Section 7 if not applicable and state "This section left intentionally blank".
 
Section 14: Governing Laws
Delete the following text in this section if not applicable: [FOR FEDERALLY CHARTERED INSTITUTIONS: or to the extent such law restricts activities otherwise permitted to federally chartered savings banks in which event the laws, rules and regulations of the United States shall govern].
 
 
Affordable Housing Program
Rental Project Rider to Deed of Trust
 
Instructions
 
This Rider to Deed of Trust is to be attached to a deed of trust prepared by the member that secures only the obligation evidenced by the AHP Promissory Note.  The AHP Rider must not be attached to a deed of trust that secures loan(s) on the AHP project other than the obligation evidenced by the AHP Promissory Note.
 
This form document has been prepared to address the minimum retention requirements of the AHP Regulations. The Federal Home Loan Bank of San Francisco makes no representation or warranty that a court will enforce this form document in accordance with its terms under applicable state law and, further, recommends that each Member review this document for suitability and have its counsel review it for enforceability under all applicable laws. Rental Rider to Deed of Trust (.doc). The Promissory Note must be submitted with the Rider to Deed of Trust.
 
Notes to Sections
 
Section 4: Cure Rights
The FHLB understands that notice and cure rights of the kind described in this section may be requested for tax credit projects, but they are not required by AHP Regulations and FHLB has no objection to modification or deletion of this section.
 
Delete Section 4 if not applicable and state "This section left intentionally blank".
 
Section 8: Three-Year Tax Credit Period
The FHLB understands this section may be required for tax credit projects but has no objection to its modification or deletion.
 
Delete Section 8 if not applicable and state "This section left intentionally blank".
 
Section 9: Permitted Transfers
This section is not required by AHP Regulations, and the FHLB has no objection to modification or deletion of this section to conform to Lender’s policies, procedures or underwriting requirements except that any replacement of a general partner requires approval by the FHLB.
 
Delete Section 9 if not applicable and state "This section left intentionally blank".
 


© 2000-2012 Federal Home Loan Bank of San Francisco