UBC Properties Trust (UBCPT) Restricted Faculty Second Mortgage Loan Program Summary of Key Terms. November 1, 2013
|
|
- Lynne Gibbs
- 5 years ago
- Views:
Transcription
1 UBC Prperties Trust (UBCPT) Restricted Faculty Secnd Mrtgage Lan Prgram Summary f Key Terms Nvember 1, 2013 The Prgram is intended t assist full-time tenured and tenure-track faculty at UBC's Vancuver campus with the purchase f a new hme n the campus. The Prgram was develped t supprt the lng term develpment f a thriving, diverse and sustainable cmmunity n UBC's Vancuver campus. Husing chice and affrdability and their effect n UBC's academic missin have been identified as high pririties fr faculty. The Prgram is designed t recruit and retain the highest caliber f faculty needed t ensure UBC's cntinued research and training excellence. The Prgram is referred t as a Secnd Mrtgage Lan prgram because UBC Prperties Trust will advance eligible faculty a lan (the Lan ). The Lan will be secured by the prperty and will be subrdinate t the First Mrtgage prvided by a financial institutin (the First Mrtgage ). Purchase Details Eligible faculty members (each a Designated Owner ) will be apprved by the University f British Clumbia (UBC) wh will then prvide the apprved Designated Owner s name and infrmatin t UBC Prperties Trust (UBCPT), which will be the Secnd Mrtgage Lender. Initially, there will be ne First Mrtgage lender (financial institutin) (the First Lender ) fr this prgram. The First Mrtgage must be a cnventinal mrtgage. The Purchaser (Designated Owner & spuse, if applicable) will need t qualify fr the First Mrtgage lan amunt thrugh the First Lender t be eligible fr this prgram. UBCPT will be the lender f the Secnd Mrtgage Lan. The Secnd Mrtgage will secure a Lan, the principal balance f which will be an amunt equal t up t 33% f the purchase price (exclusive f GST, Prperty Transfer Tax and all ther clsing csts) f the hme, up t a maximum f $330,000. There is n maximum hme purchase price. Hwever, hmes ver $1,000,000 wuld receive a maximum Secnd Mrtgage Lan f $330,000. Therefre, when the purchase price f a hme exceeds $1,000,000 the Secnd Mrtgage Lan amunt wuld be less than 33% f the purchase price. Interest n the Secnd Mrtgage Lan will be participating in nature (as described belw). This may result in the emplyee paying nminal r even zer, annual interest. If the emplyee pays zer interest annually, there will be a taxable benefit equal t the prescribed rate f interest as set ut in the Regulatins t the Incme Tax Act (Canada). Currently the prescribed rate is 2%. The prescribed rate can change n a quarterly basis. Hwever, the prescribed rate at the time a Lan is entered int will apply t the Lan fr a perid f five years (althugh a Designated Owner will be given the benefit f a lwer rate, if the prescribed rate decreases). At the end f five years, the prescribed rate will be reset t the then applicable prescribed rate.
2 In additin, in the event that UBCPT is nt fully repaid the amunts utstanding under the Secnd Mrtgage Lan when due (in the event f a market lss) there will be a further taxable benefit equal t the prtin f the Secnd Mrtgage Lan that has nt been fully recvered by UBCPT. The incme tax payable n the taxable benefits will be the respnsibility f the Designated Owner. The hme must be the principal residence f the Designated Owner. The hme must be the nly dwelling unit wned by the Designated Owner in Metr Vancuver. After being apprved fr this prgram, hmes must be purchased frm ne f the fllwing prjects lcated at Wesbrk Place, UBC: Sail by Adera; Academy by Plygn Hmes; Binning Twer by Wall Financial; and Lt 32 by Adera (cming sn). This is the current list f eligible prperties and thers may be added in the future. A Designated Owner s minimum dwn payment required by the First Lender will likely be at least 5% f the sum f the purchase price plus applicable GST. This will be cnfirmed by the First Lender. Purchasing Designated Owners will be respnsible fr all clsing csts including, but nt limited t, Prperty Transfer Tax, legal/lender/admin fees, applicable taxes, title insurance, etc. Designated Owners will nt be entitled t refinance their hme unless: the refinancing is fr the purpse f repaying the Secnd Mrtgage Lan (including any appreciatin interest payment as described belw) in full; r the purchaser is refinancing r renewing their First Mrtgage where the mrtgage amunt is less than r equal t the then utstanding First Mrtgage balance. See attachment fr sample purchase & repayment scenaris. Maintenance & Repairs Purchasers must maintain the prperty in gd repair and cnditin at all times, and all csts will be brne by the Designated Owner. This includes all perating csts including, but nt limited t, insurance, prperty taxes (r equivalent), utilities, strata fees, special assessments, maintenance & repair, etc.
3 Repayment f the Secnd Mrtgage Lan The Secnd Mrtgage Lan must be repaid upn: the sale f the hme; demand f repayment f the Secnd Mrtgage Lan (which may ccur n the cnditins utlined belw); r when the Purchaser chses t repay the Secnd Mrtgage Lan. There are n restrictins n t whm the hme must be sld hwever it must be sld fr fair market value. If there is n third party sale (fr example, if the Purchaser chses t repay the Secnd Mrtgage), then the fair market value will be determined by a third party appraiser, as further described the lan dcumentatin. When the purchaser wishes t sell, the price and cnditins f sale must be apprved by UBCPT prir t marketing f the hme. Upn clsing, the sale prceeds will be distributed t each party as fllws: first, t repay any utstanding amunts due t the First Mrtgage Lender; secnd, UBCPT will receive 33% (r a lwer percentage in the case where the initial purchase price is greater than $1,000,000) f the sale price. This amunt will represent repayment f the principal wing under the Lan (as that amunt may be adjusted under the terms f the Lan), plus participating interest, if applicable; third, t pay custmary clsing csts including, but nt limited t, lan fees, appraisal fees, real estate cmmissins, legal fees, taxes and administratin fees, etc.; and furth, the wners will receive the remainder, but nly after having first fully satisfied all charges r liens against the prperty, including all mrtgages. In the event hwever that the remainder is nt sufficient t repay the amunts nted abve, the wners will be respnsible t fund any shrtfall using their ther persnal assets withut affecting, in any manner, UBCPT s prceeds. UBCPT, at its cst, can btain an appraisal at any time. UBCPT and/r UBC has an ptin t purchase the hme prir t the unit being marketed fr sale based n the price and cnditins f sale submitted t UBCPT. As described abve, upn sale f the hme, repayment f the Secnd Mrtgage Lan will be due. The then utstanding principal balance f the Lan will be fully repayable. Additinally, UBCPT may, in sme scenaris, be entitled t a participatin interest payment. In ther scenaris a prtin f the principal amunt f the Lan may be uncllectible. In particular, the Lan prvides that in additin t the principal balance f a Lan, UBCPT will, in ttal, be entitled t an amunt equal t 33% (r a lwer percentage in the case f an riginal purchase price greater than $1,000,000) f the sale price. In the case where the unit has increased in value frm the time f riginal purchase, the amunt due t UBCPT will be greater than the initial Secnd Mrtgage Lan principal balance. In the case where the unit has decreased in value frm
4 the time f riginal purchase, the amunt cllectible by UBCPT will be less than the initial Secnd Mrtgage Lan principal. Purchasers will be respnsible fr all clsing csts and mrtgage penalties, if applicable. Purchasers can chse t repay the Secnd Mrtgage Lan in full at any time. The Secnd Mrtgage Lan must be repaid in full, subject t a variatin frmula. The variatin frmula will be based n 33% (r a lwer percentage in the case f an riginal purchase price greater than $1,000,000) f the increase in market value f the hme during the time f wnership. In the case where the unit has increased in value frm the time f riginal purchase, the ttal amunt due t UBCPT may be greater than the initial Secnd Mrtgage Lan amunt. In that case the amunt due will be the full amunt f the principal initially advanced, less any repayments, plus 33% f the amunt by which the hme has increased in value frm the time f riginal purchase t the time f repayment. In the case where the unit has decreased in value frm the time f riginal purchase, the amunt cllectible by UBCPT will be less than the initial Secnd Mrtgage Lan amunt. In that case, an amunt equal t 33% f the decline in value will be subtracted frm the principal amunt f the Lan. See attachment fr sample purchase & repayment scenaris. Demand f Repayment f the Secnd Mrtgage Lan The Secnd Mrtgage Lan becmes due and payable within 180 days f demand upn the earlier f: 1. After the Lan has been utstanding fr 30 years; OR 2. The ccurrence f ne f the fllwing plicy driven repayment triggering events (summarized in the Reprt f the Faculty Husing Actin Plan Plicy Develpment Cmmittee): The Designated Owner is n lnger emplyed by UBC; The Designated Owner is n lnger a tenured r tenure track emplyee at UBC r if retired faculty lse their emeritus/emerita status; Upn full retirement where the Designated Owner has been a full time emplyee f UBC fr less than 15 years; Upn full retirement where the Designated Owner has been a full time emplyee f UBC fr mre than 15 years but has nt met prfessr emeritus/emeriti requirements; Upn the settlement/agreement in the case f divrce/separatin where the Designated Owner is nt able t keep the hme as their principal residence; Purchasing anther dwelling unit in Metr Vancuver; If the hme is being rented (utside f a UBC apprved leave) and/r nt being used as the Designated Owners principal residence; r Upn the death f the Designated Owner, in which case the Secnd Mrtgage Lan becmes due and payable within ne year f demand.
5 The Designated Owner will be required t assign a prtin f their wages t UBCPT in the event that they fail t repay the amunt due under the Secnd Mrtgage Lan. UBCPT will have all ther remedies available t a creditr t recver the ttal funds wing. Reprting Purchasers in this prgram must annually: declare that they cmply with the prgram plicies; and cnfirm that the prperty is adequately insured and that all strata fees, prperty taxes and utility and service levies are paid and up t date. Other The tax payable n any taxable benefits will be the respnsibility f the Designated Owner. Where required UBC (the Designated Owner s emplyer) will adjust the Purchaser s T4 accrdingly fr any taxable benefits and UBC and UBCPT will take all infrmatinal, reprting, withhlding and remitting steps required by the Tax Act r Canada Revenue Agency plicy. The Designated Owner can temprarily rent their hme, but nly fr and during the duratin f a UBC pre-apprved leave. Purchasers in the prgram will allw: the First Mrtgage Lender t share infrmatin with UBCPT regarding the First Mrtgage; and UBC t share infrmatin with UBCPT in the case f any terminatin f emplyment, retirement r ther circumstance that will require repayment f the Secnd Mrtgage Lan. This dcument is t be read in cnjunctin with the UBC Prperties Trust (UBCPT) Restricted Faculty Secnd Mrtgage Lan Prgram Sample Purchase & Repayment Scenaris dated Octber 28th, 2013.
AGENCY HIGH LTV REFINANCE OPTION
AGENCY HIGH REFINANCE OPTION The high refinance ptin is designed fr (FNMA/FHLMC) brrwers wh are making their mrtgage payments n time, but whse ratis exceed the maximum allwed fr standard limited cash-ut
More informationFAQS ON DEBT CONSOLIDATION PLAN
1. What is Debt Cnslidatin Plan (DCP)? Debt Cnslidatin is a debt refinancing prgram which ffers a custmer the ptin t cnslidate all his unsecured credit facilities (such as credit cards and sme types f
More informationThis Agreement is hereby confirmed to vary Terms & Conditions of employment between The Company and you.
Salary Sacrifice Agreement Terms & Cnditins This Agreement regulates yur participatin in the Simplydriveit prgramme, which has been implemented by Pendragn Cntracts Ltd fr (cmpany name here) Under the
More information(as of 12/11/09) A borrower (the current owner) may be able to avoid a foreclosure by completing a short sale or a deedin-lieu
(as f 12/11/09) 1. What is HAFA? Initially annunced n May 14, 2009, with guidance and standard frms issued n Nvember 30, 2009, the prgram will help wners (referred t belw as brrwers) wh are unable t retain
More informationTown of Palm Beach Retirement System. Deferred Retirement Option Plan (DROP) Policies and Information for Participants
Twn f Palm Beach Retirement System Deferred Retirement Optin Plan (DROP) Plicies and Infrmatin fr Participants Twn f Palm Beach Retirement System Deferred Retirement Optin Plan (DROP) Plicies and Infrmatin
More informationUnderstanding Loan Product Advisor s Determination of Total Monthly Debt for Conventional Loans
Understanding Lan Prduct Advisr s Determinatin f Ttal Mnthly As indicated in Freddie Mac s Single-Family Seller/Servicer Guide (Guide) Sectin 5401.2, the Brrwer's liabilities must be reflected n the Mrtgage
More informationFreddie Mac Home Possible Mortgages
Freddie Mac Hme Pssible Mrtgages A respnsible, lw dwn payment mrtgage ptin fr first-time hmebuyers and lwand mderateincme brrwers Freddie Mac Hme Pssible and Hme Pssible Advantage mrtgages (cllectively
More informationVOLUMETRIC PRODUCTION PAYMENTS. Liz McGinley
VOLUMETRIC PRODUCTION PAYMENTS Liz McGinley What is a Vlumetric Prductin Payment ( VPP )? A nn-perating, nn-expense bearing, limited term ryalty. It entitles the hlder t a specified vlume f hydrcarbns
More informationEXTENDED BENEFITS FOR TOTAL DISABILITY & SUCCEEDING CARRIER FOR INPATIENT ADMISSIONS
UnitedHealthcare Oxfrd Administrative Plicy EXTENDED BENEFITS FOR TOTAL DISABILITY & SUCCEEDING CARRIER FOR INPATIENT ADMISSIONS Plicy Number: ADMINISTRATIVE 149.11 T2 Effective Date: December 1, 2017
More informationYUM! Brands 401k Plan
YUM! Brands 401k Plan Final Distributin Electin Name: Scial Security #: Address: Daytime Telephne #: Evening Telephne #: Befre yu can prcess a Final Distributin Electin, yur status must be terminated.
More informationACCT 101 LECTURE NOTES CH.
ACCT 101 LECTURE NOTES CH. 11 Crprate Reprting and Analysis Gals: 1) Be familiar with characteristics f a crpratin and with different surces f equity. 2) Be familiar with varius cmmn stck transactins,
More informationAssistance Program: Prince George s County, Maryland Pathway to Purchase First Time Homebuyers Assistance Code: DMDPRINCE
Assistance Prgram: Prince Gerge s Cunty, Maryland Pathway t Purchase First Time Hmebuyers Assistance Cde: DMDPRINCE HOMEOWNERSHIP ASSISTANCE PROGRAM SUMMARY Prduct Descriptin Allwable Originatin Channel
More informationHOC Works Program Requirements
HOC Wrks Prgram Requirements Last Revisin: March 2018 INTRODUCTION The Husing Opprtunities Cmmissin f Mntgmery Cunty (HOC) established the HOC Wrks prgram in 2015 in rder t guarantee that HOC emplyment
More informationOn April 1, 2013, the Harmonized Sales Tax (HST) was replaced by the federal Goods and Services Tax (GST) and the BC Provincial Sales Tax (PST).
HST t PST: Transitin Rules fr Real Prperty A printable versin f infrmatin fund nline at: www.bcrea.bc.ca/gvernment-relatins/hst-pst-resurces/pst-transitin-rules Last update: January 7, 2015 On April 1,
More informationBusiness Income & Expenses Part II
Chapter 4 Business Incme & Expenses Part II Rental and vacatin prperties Passive incme/lsses Deductins fr AGI Individual Retirement Accunts (IRAs) Other retirement plans Rllver rules 1 Rental Incme/Expenses
More informationSTATE OF NEW YORK MUNICIPAL BOND BANK AGENCY
STATE OF NEW YORK MUNICIPAL BOND BANK AGENCY Recvery Act Bnd Prgram Written Prcedures fr Tax Cmpliance and Internal Mnitring, adpted September 12, 2013 PROGRAM OVERVIEW The State f New Yrk Municipal Bnd
More informationSuperannuation contributions tax ruling Tax deductibility of superannuation contributions
July 2011 Technical Bulletin Superannuatin cntributins tax ruling Tax deductibility f superannuatin cntributins Wh is impacted? As a result f tax ruling 2010/1 yur clients can n lnger claim a tax deductin
More informationA Step-by-Step Guide to Staying in Compliance Updated November 2016
A Step-by-Step Guide t Staying in Cmpliance Updated Nvember 2016 As f September 1, 1994, every persn in J-1 r J-2 status is required t maintain a gvernment-mandated minimum level f health insurance fr
More informationThe UK Register of Trusts 21 December 2017
The UK Register f Trusts 21 December 2017 If yu are a trustee f a UK resident trust r f a nn-resident trust which has UK assets r UK surce incme yu may need t take actin befre 5 January 2018. Backgrund
More informationSignificant Financial Disclosure Policy for Investigators
Significant Financial Disclsure Plicy fr Investigatrs Disclsure Frm in Micrsft Wrd Frmat Intrductin Federal regulatins require the University t manage, reduce, r eliminate any actual r ptential cnflicts
More informationConsumer Buy to Let Mortgage
Cnsumer Buy t Let Mrtgage What is it? Cnsumer buy-t-let (CBTL) mrtgages are any buy-t-let cntracts that are nt entered int by an individual whlly r predminantly fr the purpse f a business. They are usually
More informationThe UK Register of Trusts 23 October 2017
The UK Register f Trusts 23 Octber 2017 If yu are a trustee f a UK resident trust r f a nn-resident trust which has UK assets r UK surce incme yu may need t take actin befre 5 December 2017. Backgrund
More informationFrequently Asked Questions for Blue Shield Producers Guarantee Issue for Children Under Age 19 Updated June 7, 2011
Frequently Asked Questins fr Blue Shield Prducers Guarantee Issue fr Children Under Age 19 Updated June 7, 2011 What are the new health refrm requirements fr applicants under age 19? The Affrdable Care
More informationPREPARING TO TERMINATE DROP
PREPARING TO TERMINATE DROP If yu wrk until yur riginal Deferred Retirement Optin Prgram (DROP) terminatin date, the Divisin f Retirement will mail yu yur DROP Terminatin Packet apprximately 90 days prir
More informationAttachment #3 To Report No. HC HALTON COMMUNITY HOUSING CORPORATION
Attachment #3 T Reprt N. HC-09-09 HALTON COMMUNITY HOUSING CORPORATION Date f issue: Dcument number: Revisin: 2 PAGE 1 OF 6 Apprval: Title: MANAGER, HOUSING OPERATIONS 1.0 Purpse The purpse f the Plicy
More informationFinancial Aid Satisfactory Academic Progress Appeal Request Spring 2019 Deadline: January 3, 2019
Financial Aid 2018-2019 Satisfactry Academic Prgress Appeal Request Spring 2019 Deadline: January 3, 2019 Is this yur first appeal? (Currently n Financial Aid Suspensin) Is this yur secnd appeal? (Appeal
More informationApproval Process and Arrangements for University Consultancy Work
Apprval Prcess and Arrangements fr University Cnsultancy Wrk 1 Intrductin Cnsultancy activities can be separated int tw types: thse undertaken in City s name (University cnsultancy) and thse undertaken
More informationADMINISTRATIVE REPORT
LATE DISTRIBUTION FOR COUNCIL JANUARY 20, 2009 RR-2 ADMINISTRATIVE REPORT Reprt Date: January 19, 2009 Cntact: Kenneth Bayne Cntact N.: 604.873.7223 RTS N.: 07877 VanRIMS N.: 08-2000-20 Meeting Date: January
More informationSt. Paul s Lutheran Grade School Tuition Agreement Form
St. Paul s Lutheran Grade Schl Tuitin Agreement Frm Schl Year: 2017-2018 2017-18 tuitin schedule is listed n the bttm f this dcument. St. Paul s Lutheran Grade Schl strives t prvide an envirnment cnducive
More informationILLINOIS INSTITUTE OF TECHNOLOGY J-1 SCHOLAR REQUEST FORM (TO BE COMPLETED BY THE SCHOLAR)
J-1 SCHOLAR REQUEST FORM (TO BE COMPLETED BY THE SCHOLAR) Please cmplete this frm and return it t yur hst department as sn as pssible s that we may issue yu a DS-2019, which is used when yu apply fr a
More informationDesignated Fund Contribution Form
1 Designated Fund Cntributin Frm Name(s) Address Street City State Zip Alternate Address: Business Seasnal Street City State Zip Telephne Wrk Hme Cell Email: Alternate email: Hw did yu hear abut the Cmmunity
More informationCompass Critical Illness Insurance Enrollment at a glance An affordable way to help protect against the financial stress of a serious illness.
Cmpass Critical Illness Insurance Enrllment at a glance An affrdable way t help prtect against the financial stress f a serius illness. Fr the emplyees f: ACME Truck Line, Inc. D yu knw smene wh has had
More informationHow to Count Employees Determining Group Size Under the Medicare Secondary Payer Regulations
Hw t Cunt Emplyees Determining Grup Size Under the Medicare Secndary Payer Regulatins 1. Wh is an Emplyee? An emplyee is an individual wh wrks fr an emplyer r an individual wh, althugh nt actually wrking
More informationClosing Out Award. The PI will work with ORA in obtaining the applicable resolution. Residuals
Clseut All spnsred prject awards must be frmally clsed-ut as sn as pssible after the prject end date t ensure that all expenses psted t this prject are allwable, n additinal charges are psted, all payments
More informationEOFY tax strategies for small businesses
As we apprach the end f the financial year (EOFY), there are a number f smart strategies yu culd cnsider t help yu streamline yur finances and legitimately save n yur tax bill. Insurance premiums Sme insurance
More informationSchedule C Worksheet for Self-Employed Filers and Contractors tax year Part 1: Business Income and Expenses
Schedule C Wrksheet fr Self-Emplyed Filers and Cntractrs tax year 2017 This dcument will list and explain the infrmatin and dcumentatin that we will need in rder t file a tax return fr a self-emplyed persn,
More informationFor the employees of: City and County of San Francisco Health Service System
Cmpass Critical Illness Insurance A limited benefit plicy Enrllment at a Glance An affrdable way t help prtect against the financial stress f a serius illness. Fr the emplyees f: City and Cunty f San Francisc
More informationDATE: December 14, Board of Commissioners. Patrick Quinton, Executive Director
DATE: December 14, 2011 TO: FROM: Bard f Cmmissiners Patrick Quintn, Executive Directr SUBJECT: Reprt Number 11-71 Authrize the Third Amendment t Dispsitin and Develpment Agreement fr Statin Place Redevelpment
More informationSirtex Medical Limited Senior Executive Short Term Incentive Policy and Procedure
Sirtex Medical Limited Senir Executive Shrt Term Incentive Plicy and Prcedure 1 Sirtex Medical Limited Shrt Term Incentive 1 Plicy 1.1 Purpse The primary purpse f the shrt term incentive (STI) is t acknwledge
More informationPuerto Rico Treasury Department Finally Grants Relief to Participants Affected by Hurricane Maria
Nvember 16, 2017 If yu have questins, please cntact yur regular Grm attrney r ne f the attrneys listed belw: Juan Luis Alns jalns@grm.cm (202) 861-6632 Elizabeth T. Dld edld@grm.cm (202) 861-5406 David
More informationSiding Program Application
Siding Prgram Applicatin Please read the attached Plicy Guidelines and prvide the requested infrmatin. 1. Address f Prperty: 2. Applicant s name & mailing address: Telephne: ( ) - E-mail 3. Applying fr:
More informationRelocation/Moving Procedures for New Employees
Relcatin/Mving Prcedures fr New Emplyees Purpse T prvide guidelines and restrictins regarding thse cases where relcatin csts are necessary fr an individual t accept emplyment with the University and t
More informationABA Staff Analysis: Rules Regarding Loan Originator Compensation Policies
ABA Staff Analysis: Rules Regarding Lan Originatr Cmpensatin Plicies September 2010 Final Rule Issued: August 16, 2010 On August 2010, the Federal Reserve Bard issued rules impsing restrictins regarding
More informationTWU OFFICE OF RESEARCH & SPONSORED PROGRAMS INSTRUCTIONS FOR USING THE TWU PROPOSAL APPROVAL ROUTING FORM
TWU OFFICE OF RESEARCH & SPONSORED PROGRAMS INSTRUCTIONS FOR USING THE TWU PROPOSAL APPROVAL ROUTING FORM Phne: (940) 898-3375 Website: http://www.twu.edu/research/ WHEN TO SUBMIT THROUGH RESEARCH & SPONSORED
More informationTRID Rule Purchase For Applications dated on or after 10/3/2015
Fr Applicatins dated n r after 10/3/2015 This dcument prvides a brief verview f the TRID Rule s requirements and specifies the purchase requirements fr CMG Mrtgage, Inc., dba CMG Financial, (CMG). CMG
More informationThe individual s spouse, where the spouse is acting in the place of or on behalf. of the individual;
11-94 ELIGIBILITY REQUIREMENTS 3257 3257. TRANSFERS OF ASSETS AND TREATMENT OF TRUSTS A. General.--Sectin 13611 f the Omnibus Budget Recnciliatin Act f 1993 (OBRA 1993) amended 1917 f the Act by incrprating
More informationInterpretive Guideline #01 Issued: January 2015 / Revised: July 2016 The Plan Administrator
Interpretive Guideline #01 Issued: January 2015 / Revised: July 2016 The Plan Administratr This guideline is designed t explain the prvisins f the Emplyment Pensin Plans Act (the Act) and the Emplyment
More informationSpecial Conditions Form
2019-2020 Special Cnditins Frm Cntact Infrmatin www.twsn.edu/finaid finaid@twsn.edu 410-704-4236 If yur family has experienced a majr reductin in incme, the Financial Aid Office may be able t reevaluate
More informationStandard & High Balance Loan Purpose Minimum FICO Maximum LTV Maximum CLTV Purchase 600** 96.50% 96.50% Streamlines
FHA Prtfli Prgram Summary Prduct Types Eligible Prgrams 30-year Fixed FHA lans 203(b) 1-4 family, 234(c) Cndminiums, Standard & High Balance Lan Purpse Minimum FICO Maximum LTV Maximum CLTV Purchase 600**
More informationFUNDING GUIDELINES PREVENTION GRANTS FOR CULTURALLY AND LINGUISTICALLY DIVERSE COMMUNITIES
FUNDING GUIDELINES PREVENTION GRANTS FOR CULTURALLY AND LINGUISTICALLY DIVERSE COMMUNITIES CODE FOR APPLICATION COVER: CALD18 ISSUE DATE: 24 Octber 2017 PLACE FOR LODGEMENT: Please ldge yur applicatin
More informationGoldwater Bank N.A. Mortgage Division Construction-to-Permanent Loan Agreement and Acknowledgement Site Built Homes
Gldwater Bank N.A. Mrtgage Divisin Cnstructin-t-Permanent Lan Agreement and Acknwledgement Site Built Hmes Builders/Brrwer s utilizing Gldwater Bank s (Lender) Cnstructin-t-Permanent (C-t-P) lan prgram
More informationFarm Credit Lending Terminology
Farm Credit Lending Terminlgy Amrtized lan - A lan with a series f regularly scheduled payments that include bth interest and partial repayment f principal. Equal payments - Payments are f equal size with
More informationNUMBER: BUSF 3.30 Business and Finance. Other Educational and General Program Accounts ("E" Funds) Date: October 18, 2006 I. PURPOSE OF THE POLICY
NUMBER: BUSF 3.30 SECTION: Business and Finance SUBJECT: Other Educatinal and General Prgram Accunts ("E" Funds) Date: Octber 18, 2006 Plicy fr: Prcedure fr: Authrized by: Issued by: All Campuses All Campuses
More informationALL GOVERNMENT PRODUCTS
OVERLAYS and GUIDELINES ALL GOVERNMENT PRODUCTS Agricultural Exemptins Texas purchase and rate term refinances n prperties with agricultural exemptin A ne acre parcel, that includes the hme t be financed,
More informationWhat type of Bank is best suited to do BOLI?
Bank Owned Life Insurance (BOLI) Bank Owned Life Insurance (BOLI) is defined as a cmpany wned insurance plicy n ne r mre f its key emplyees that will infrmally fund the financing f emplyee benefits prgrams.
More informationINNES & LOTITO, P.C. CERTIFIED PUBLIC ACCOUNTANTS
INNES & LOTITO, P.C. CERTIFIED PUBLIC ACCOUNTANTS 22525 Hall Rad, Suite A Macmb, MI 48042 Telephne: (586) 468-0200 Fax: (586) 468-0747 Website: cpanerds.cm Email: Innes.Ltit@cpanerds.cm 2014 1040 CHECKLIST
More information(FAMILY NAME) Qualified Small Employer Health Reimbursement Arrangement
(FAMILY NAME) Qualified Small Emplyer Health Reimbursement Arrangement Effective Date: Emplyer / Plan Administratr Emplyer Name: Address: Phne Number: ( ) - Federal Emplyer Identificatin Number: The emplyer
More informationSpecial Conditions Form
2017-18 Special Cnditins Frm Cntact Infrmatin www.twsn.edu/finaid finaid@twsn.edu 410-704-4236 If yur family has experienced a majr reductin in incme, the Financial Aid Office may be able t reevaluate
More informationLucky Lagniappe Savings
Lucky Lagniappe Savings Prduct Prfile Prize-Linked Savings Accunt Prgram Lucky Lagniappe Savings Prduct Descriptin The Luisiana Credit Unin League (LCUL) ffers a Prize-Linked Savings (PLS) Prgram that
More informationEmployee Benefits Guide. January 1 December 31, 2019
Emplyee Benefits Guide 2019 January 1 December 31, 2019 Medical and Prescriptin Drugs Benefits are insured by: 4 Medical Plan Optins Effective January 1, 2019 Premium Netwrk HDHP 1 Nn-Premium Netwrk Nn-Netwrk
More informationTECHSHOP, INC. NOTICE OF LIQUIDATION EVENT
TECHSHOP, INC. NOTICE OF LIQUIDATION EVENT T the Hlders f Series A Preferred Stck and Series B Preferred Stck f TechShp, Inc., a Califrnia crpratin ("TechShp"): As yu may have heard, TechShp ceased peratins
More informationKey issuing Procedure
Key issuing Prcedure Categry Type Apprved by Prperty Prcedure Directr, Prperty Services Date Plicy Tk Effect 1 January 2015 Last Apprved Revisin 1 January 2015 Spnsr Respnsible Officer Finance and Administratin
More informationAttachment G. Homeownership Opportunities Program (HOP) Guidelines
. Hmewnership Opprtunities Prgram (HOP) Guidelines Cntents: 1: Prgram Descriptin 2: Member Participatin and Registratin 3: Funding Use, Limits, and Availability 4: Member Requirements 5: Recipient Requirements
More information2018 Employee Benefits Program (U.S.) Qualified Status Changes
2018 Emplyee Benefits Prgram (U.S.) Qualified Status Changes SUMMARY PLAN DESCRIPTION (SPD) 2018 Emplyee Benefits Prgram (U.S.) Qualified Status Changes TABLE OF CONTENTS WHAT HAPPENS TO YOUR BENEFITS...
More informationaddress: Driver license number: Date of birth: Occupation:
MEMBERSHIP APPLICATION PRIMARY MEMBER INFORMATION Name: Scial security Member Number: Hme phne: Cell phne: Business phne: Mther s Maiden Name: Security passwrd: Mailing address: City: State: ZIP Cde: Street
More informationAMENDMENTS TO NASDAQ RULES ON COMPENSATION COMMITTEES
March 2013 AMENDMENTS TO NASDAQ RULES ON COMPENSATION COMMITTEES Summary. The Securities and Exchange Cmmissin recently apprved the fllwing amendments t the NASDAQ listing rules relating t cmpensatin cmmittees:
More informationTHE WHITE HOUSE Office of the Press Secretary
THE WHITE HOUSE Office f the Press Secretary FOR IMMEDIATE RELEASE March 16, 2009 President Obama and Secretary Geithner Annunce Plans t Unlck Credit fr Small Businesses Emphasizes Recvery Effrts Already
More informationSteps toward Retirement
Steps tward Retirement Eligibility, Actin Steps, and Benefit Optins fr Faculty and Staff Nearing Retirement Eligibility fr Official University Retiree Status The fllwing jb types f the University are eligible
More informationOverview of Statements of Investment Policies and Procedures (SIPP) Requirements
Financial Services Cmmissin f Ontari Cmmissin des services financiers de l Ontari SECTION: INDEX NO.: TITLE: APPROVED BY: PUBLISHED: Investment Guidance Ntes IGN-005 Overview f Statements f Investment
More informationAssurant Announces $1.3 Billion 2018 Property Catastrophe Reinsurance Program
Assurant Annunces $1.3 Billin 2018 Prperty Catastrphe Reinsurance Prgram Prtecting 2.9 Millin Plicyhlders Wrldwide at Attractive Terms NEW YORK, N.Y., June 28, 2018 Assurant, Inc. (NYSE: AIZ), a glbal
More informationGUARANTEE AGREEMENT. This guarantee is made between: (1) [ Full Name & Address ] (the Guarantor )
GUARANTEE AGREEMENT This guarantee is made between: (1) [ Full Name & Address ] (the Guarantr ) 2) Derwent Facilities Management Limited (cmpany number 07264667) (Trading as Derwent Students) f N.1 Centr
More informationGuide to: BODIES CORPORATE
Guide t: BODIES CORPORATE Created: January, 2014 Last Updated: February, 2016 WHAT IS A BODY CORPORATE? A bdy crprate, ften referred t as a strata title r unit title develpment, is a unique feature f the
More informationArticle 5.2 of the Grant Agreement (GA) defines forms of costs and how they can be applied to the different budget categories.
Fact Sheet 1.1 Overview f eligible csts per budget categry This Fact Sheet shall serve the EUROfusin beneficiaries and linked third parties as a guideline. It shall neither cnstitute a legally binding
More informationEPPA Update Issued September 2012 / Updated October, 2012 Defined Benefit Funding Relief Provisions
EPPA Update 12-01 Issued September 2012 / Updated Octber, 2012 Defined Benefit Funding Relief Prvisins - 2012 In respnse t the decline f slvency discunt rates, the Emplyment Pensin Plans (Partial Exemptin
More informationEXXONMOBIL SAVINGS PLAN Hardship Withdrawal Form
EXXONMOBIL SAVINGS PLAN Hardship Withdrawal Frm Name: Sc. Sec #: Wrk Phne: ( ) Hme Phne ( ) Yu may request a hardship withdrawal when yur financial need cannt be met thrugh: Reimbursement r cmpensatin
More informationILLINOIS INSTITUTE OF TECHNOLOGY J-1 SCHOLAR REQUEST FORM (TO BE COMPLETED BY THE DEPARTMENT)
J-1 SCHOLAR REQUEST FORM (TO BE COMPLETED BY THE DEPARTMENT) Please cmplete this frm and return it, alng with the individual s sectin, t the Internatinal Center as sn as pssible s that we may issue the
More informationAttachment H. Neighborhood Impact Program (NIP) Guidelines
Attachment H. Neighbrhd Impact Prgram (NIP) Guidelines Cntents: 1: Prgram Descriptin 2: Member Participatin and Registratin 3: Funding Use, Limits, and Availability 4: Member Requirements 5: Recipient
More informationStandard & High Balance Loan Purpose Minimum FICO Maximum LTV Maximum CLTV Purchase 580* 96.50% 96.50% Streamlines
FHA Prgram Summary Prduct Types Eligible Prgrams 30yr, 25yr and 15yr Fixed 5/1 ARM 203(b) 1-4 family, 234(c) Cndminiums, Standard & High Balance Lan Purpse Minimum FICO Maximum LTV Maximum CLTV Purchase
More informationImplementing ABLE: 2016
Implementing ABLE: 2016 Mderatr: Michael Mrris, Executive Directr Natinal Disability Institute (NDI) ablenrc.rg Agenda Slide 2 ABLE Basics and Cre Cmpnents Status f Federal and State Implementatin Ntice
More informationAttachment C. Monitoring Procedures
Attachment C. Mnitring Prcedures These prcedures set frth the prcess that the Federal Hme Lan Bank f Indianaplis ( FHLBI r the Bank ) fllws in mnitring its Affrdable Husing Prgram (AHP) cmpetitive applicatin
More informationFHA OVERLAY MATRIX. A Closing Protection Letter (CPL) is required
This dcument is a summary f mst Platinum Hme Mrtgage guideline verlays and FHA requirements. This dcument shuld be used as a reference tl in cnjunctin with the Crrespndent Seller Guide and is nt meant
More informationU.S. Domestic Relocation Summary
U.S. Dmestic Relcatin Summary Fr Internatinal Assignment t United States Career Path Change Mving t the United States January 1, 2015 Human Resurces Shared Services Intrductin This dcument prvides a summary
More informationTemporary Rental Unit - Zoning Clearance Application Packet
Temprary Rental Unit - Zning Clearance Applicatin Packet Cunty f Ventura Resurces Management Agency Planning Divisin 800 S. Victria Avenue, Ventura, CA 93009 (805)654-2488 www.vcrma.rg/divisins/planning
More informationEXTERNAL POLICY PENALTIES ADMINISTRATION AND DEBT MANAGEMENT
EXTERNAL POLICY PENALTIES Revisin: 4 Page 1 f 7 1 SCOPE The purpse f this plicy is t prvide guidelines regarding penalties terms f Chapter 15 f Tax Administratin Act 28 f 2011 (the Act). 2 POLICY STATEMENT
More informationTo all Members of the Medical Insurance Plan for Retirees:
The Wrld Bank Grup Human Resurces, MSN G2-202 (202) 473-2222 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPMENT Washingtn, D.C. 20433 (202) 522-7026 fax INTERNATIONAL DEVELOPMENT ASSOCIATION U.S.A.
More informationPLAN DOCUMENT TEMPORARY DISABILITY INSURANCE PROGRAM FOR LAY EMPLOYEES DIOCESE OF METUCHEN OFFICE OF HUMAN RESOURCES. Effective January 1, 2014
DIOCESE OF METUCHEN OFFICE OF HUMAN RESOURCES TEMPORARY DISABILITY INSURANCE PROGRAM FOR LAY EMPLOYEES PLAN DOCUMENT Effective January 1, 2014 (Replaces January 1, 2013 Plan Dcument) 1 CONTENTS OVERVIEW...
More informationMonthly Newsletter. December 2018
Mnthly Newsletter December 2018 In this issue The New Business Deductin Medicare Part D Open Enrllment 6 Last-Secnd Mney-Saving Tax Mves Retirement Cntributins Get a Bst in 2019 Unclaimed Prperty Tax filing
More informationScottish Building Society Mortgage Interest Summary
3 Year Discunted Variable Rate Mrtgages fr purchase r remrtgage 1.99% (variable) i.e. SVR less 3.15% 3 Years SVR 4.3% 3% f lan amunt in first 3 years Purchase: Nne 80% - 350,000 70% - 500,000 Other Cmments
More informationABA Staff Analysis: Interim Rule Amending Regulation Z: Summary Information Regarding Interest Rates and Payment Changes
Summary ABA Staff Analysis: Interim Rule Amending Regulatin Z: Summary Infrmatin Regarding Interest Rates and Payment Changes September 2010 The Bard published interim rule (75 FR 58469-58489) changes
More informationUnderstanding Self Managed Superannuation Funds
Understanding Self Managed Superannuatin Funds Hw t read this dcument Managing yur finances t meet yur day t day requirements as well as yur lng-term gals can be a cmplex task. There are all srts f issues
More informationDISCLOSURE PACKAGE ACKNOWLEDGEMENT FORM
DISCLOSURE PACKAGE ACKNOWLEDGEMENT FORM Verle Melz August 7, 2013 Agent Date f Disclsure Package Request Purchaser(s) OR Disclsure Package Requester s Name(s) (please print): I hereby acknwledge receipt
More informationSummary of revised methodology for setting the allowed revenue for electricity transmission
Public Cnsultatin, December 2013 Summary f revised methdlgy fr setting the allwed revenue fr electricity transmissin Summary f revised methdlgy fr setting the allwed revenue fr electricity transmissin
More informationFLORIDA SMALL BUSINESS EMERGENCY BRIDGE LOAN APPLICATION
FLORIDA SMALL BUSINESS EMERGENCY BRIDGE LOAN APPLICATION Disaster Event: Hurricane Michael (Applicatin Deadline December 7, 2018) LOAN AMOUNT REQUESTED: (Maximum $50,000) * Lans f up t $100,000 may be
More informationFinancial Wellness Curriculum
Financial Wellness Curriculum The Financial Wellness Curriculum prvides students with infrmatin and financial tips fr reducing persnal debt and develping smart mney management skills. The gal is t help
More informationUnderwriting Guideline Matrix
Underwriting Guideline Matrix NewLeaf HmePssible NewLeaf HmePssible Advantage Fixed Prduct Cdes: NewLeaf HmePssible 30 year Fixed (W258) NewLeaf HmePssible 15 year Fixed (W257) NewLeaf HmePssible 30 year
More informationAct No. 72 to Amend the Puerto Rico Internal Revenue Code of 2011
June 3, 2015 www.mcvpr.cm TAX ALERT Act N. 72 t Amend the Puert Ric Internal Revenue Cde f 2011 On May 29, 2015, the Gvernr f Puert Ric signed int law Act N. 72 (the Act ) t amend the existing Puert Ric
More informationVacant Home Program Application
Vacant Hme Prgram Applicatin Please read the attached Plicy Guidelines and prvide the requested infrmatin. 1. Address f Prperty: 2. Applicant s name & mailing address: 3. Requested Grant r Lan Amunt: $
More informationSPECIAL CIRCUMSTANCES REPAYMENT / REMISSION / RE-CREDIT APPLICATION
INSTRUCTIONS SPECIAL CIRCUMSTANCES REPAYMENT / REMISSION / RE-CREDIT APPLICATION Wh shuld use this frm? This frm applies t all internatinal and dmestic fee paying students and all dmestic Cmmnwealth supprted
More informationSpecial School District (SSD) Effective Date: August, Overtime
Luisiana Department f Educatin Emplyee Plicies Special Schl District (SSD) Effective Date: August, 2015 Overtime ************************************************************************ Applicability This
More informationCONNECTICUT CARPENTERS HEALTH FUND COBRA CONTINUATION COVERAGE ELECTION NOTICE
CONNECTICUT CARPENTERS HEALTH FUND COBRA CONTINUATION COVERAGE ELECTION NOTICE DATE Dear : This ntice cntains imprtant infrmatin abut yur right t cntinue yur health care cverage in the Cnnecticut Carpenters
More information