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placed person's place of en~t~loyment, aud available on the Ina l'}~.e t, (2) Tile amount, if any. which will compensate tile dis- p]i~ccd owner for ;Iny illercascd interest costs which he is re- qnired to pay for fi,ancing the ac(ittisition of a comparable repla¢.emcnt dwelling. The ammmt si.all be paid only if the acquired dwelling was em.umbered bi' a bona fide mortgage . whivh was a valid lien on such dv,,~lling for not less than I80 days prior to the iaitlation of negotiations for the acquisi. tion of such dwelling. The amouut shall be equal to the excess in the aggregate interest nnd other debt service costs of that amount of the principal of the mot'tf~age on the replacement dwelling which is equal to the unpaid balance of the mortgage on the acquired dwelling, over the remainder term of th~. mortgage on the acquired dwelling, reduced to discounted present valne. The discount rate shall be the prevailing inter- cst rate paid (,n ~avings depoMts by commercial hanks in the general area in which the reph~cement dwelling is located. (3) Reasonable expenses incurred by the displaced owner for evidence of title, recording fees, and other closing costs int:ident to the ptlrehase of the replacement dwelling, but not incltnlin~ prepaid expenses. (C) SIIC]I l);t}'nlpnt shall be made only to a displaced owner who purchases end occnpics a rcplacement dwelling that meets standards established by the public entity within one year subsequent to the elate pn which he moves from the dwelling acquired by the public entity or ihe date on which he receives fr.m lhe public entity final payment of all costs of the dwell. lng. acquired by the public entity, v, hichever is the lateP date. $~:c. 5. Section 726i of the Gov¢,rmnent Code is amended tO read: 7264, (a) In addltioa [o the p~ym('nts require(1 by Section 7962, as n part of the cost of acquisition, the public entity si.dj In,ko n payment to ~llly displacrd person dlst)laeed from any dwelling not eligible to rcccive a payment under Section .7263 which was aclually and lawfully occupied by such person for not less' than 90 days prior to thc initiation of negotiation by the l)ublle entity for tho aeqldsition of such property. (h) Such paymoat, not 1o exceed four thdus;E~d dollars (SI,O00), shall be the additi.nal amount which is necessary to enable stl('h pt'l}SOll tO Ir'liSp or rent for a period not to exceed four 3'ears. or t{~ nlak(, tile downp}13'lllon[ on the purchase of, a d~.cont, safe, ;Lnrl s. ll[tltry dw¢.lling of stantlards adequate to b~ m,~ard to public utilitlcs and public and commercial far:il- iiies. (~:) If lhe payn.,nt is robe used asa downpayment for a,.quisilion of a decent, safe, alld sanitary dwelling of stleh