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EXHIBIT B - COMPENSATION FOR SERVICES Below Market Rate (BMR) & Down Payment Assistance (DPA) Activities Activity Description Hello's Rates Fixed Costs Annually, send up to three letters requesting signed certification and proof of occupancy. Upon completion of annual monitoring and Annual Compliance compliance, provide the City with a monitoring report summarizing the $145 Monitoring of Portfolio findings and listing detailed information regarding non-responders or per file non-compliant responders. Update status in database as Active or Resolved. If no response after three attempts, report list of Active files to the City. Follow-up to be performed on an hourly basis. Variable Costs Follow City's resale procedures. Market units through City's interest list, Hello Housing's Stay Connected list, counseling agencies, and list Setup of BMR Resale home on Hello Housing's website. Prepare a resale application package, discuss the resale procedure with owners, review documents, $500 calculate affordable resale price, coordinate with listing and buyer per resale agents (if applicable)to explain program guidelines that a qualified buyer will have to meet. Answer all calls and emails from the public and provide the guidance required to complete the BMR application for lottery ranking. Prepare Waitlist Creation and online pre-application, full application and paper application. Calculate $4,600 Management preference points and conduct a virtual lottery to determine the ranking per lottery order for inviting complete applications, determining program eligibility and approval for a BMR sale. Resale Milestone 1: Process and underwrite selected applicants from lottery ranking to Initial Qualification, determine if they meet eligibility requirements as set forth in the Lender Pre Approval & marketing plan. Collect all required documents from the applicant and $850 City Conditional complete initial screening for program eligibility. Obtain conditional per file Approval/Disqualification approval or disqualification from the City and preapproval from a qualified Lender. When a unit is ready for sale, collect updated required documents from the applicant(as needed depending on time passed since conditional approval) and lender documentation. Screen documents and Resale Milestone 2: information provided to verify income and program eligibility prior to $1,450 Final Approval & per qualified Purchase Agreement execution of purchase agreement between developer and applicant. purchaser Prepare final approval package for the City and obtain approval for developer to enter into contract. Coordinate Buyer and Developer to enter into purchase & sale agreement. Track each application with lenders, requiring weekly reports on each file to ensure prompt approvals. Coordinate collection of required Resale Milestone 3: information from escrow and lender needed to complete City $1,725 Doc Preparation & documents including restrictions, notes, DOTs and escrow instructions. per Closing Create the documents and route with instructions for signatures and homebuyer notarizing at the City. Coordinate pickup and delivery of executed documents to title and track file through all stages of escrow to ensure conforming loan is secured and a timely close of escrow. Process and review appeals from disqualified applicants to determine if they meet eligibility requirements as set forth in the Program $100 Resale Appeals Guidelines. Prepare a final determination packet for City review and per hour approval. FY18/19 Professional Services Agreement—Hello Housing Page 7 of 10