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CALHOME REHABILITATION <br />AND REPLACEMENT PROGRAM <br />The CalHome Rehabilitation and Replacement Program will be operated <br />in accordance with the requirements of the State of California <br />CalHome Program. <br />Eligible Borrowers <br />• Borrower(s) must be the owner(s) of a single-family home, or of <br />a manufactured/mobile home that is permanently affixed to a <br />space in a legal, properly permitted manufactured housing park. <br />Properties must be located in a CDBG eligible census tract in <br />the City of Santa Ana. <br />• Manufactured homes must be designed for long-term occupancy. <br />Vehicles designed for recreational purposes do not qualify. <br />• Total annual income must be at or below 80 percent of area <br />median income, as published by the U.S. Department of Housing <br />and Urban Development and the California Department of Housing <br />and Community Development. Effective March 31, 2005 the <br />maximum household incomes are as follows: <br />Household Size Maximum Income <br />1 42,900 <br />2 98,400 <br />3 54,500 <br />4 60, 600 <br />5 65,400 <br />6 70,200 <br />7 75,100 <br />8 79,900 <br />• Borrower(s) must occupy the home as their principal residence, <br />and shall not lease or rent the property during the term of <br />their loan. <br />• Borrowers must have a current credit history that demonstrates <br />prudent use of debt and a commitment to meeting financial <br />obligations. <br />General Program Guidelines <br />• Funds budgeted annually will be made available on a first-come, <br />first-served basis. Priority for loan funding will be based <br />upon the date and time a completed application and all <br />necessary documents are submitted. The City reserves the right <br />to make the sole determination as to when such completed <br />applications and documents are received. <br />EXHIBIT 1 <br />Page 1 <br />20E-3 <br />