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PHAP Underwriting <br />BAAHA will provide all services to conduct and finalize the PHAP underwriting process. These <br />activities will include and not be limited to: <br />Working directly with a PHAP approved/certified Lender to collect and review required <br />documentation from the lottery winner to complete the Program approval process. <br />Interacting with the Lender to coordinate findings and to secure final Program approvals. <br />Submit recommendations for the lottery winner(s)Program approval or disapproval. <br />Establish and advance efforts with a backup buyer(s), in case the 1st ranked lottery <br />winner is disapproved. <br />BAAHA internal underwriting system will populate all required PHAP City documents. <br />These documents will be prepared by BAAHA and sent to the City, escrow company, and <br />1st lender for review and approval. Upon securing approval, BAAHA will send final <br />documents to escrow, with escrow instructions for signing. Under current COVID <br />restrictions, BAAHA normally has the City sign their documents first, and then have <br />them delivered to escrow for the buyer to sign. <br />Property Resale Administration and Fee <br />BAAHA will coordinate, implement, and administer all the tasks required to conduct the resale <br />of PHAP properties. <br />BAAHA will by acting as the real estate agency assigned to implement the resale process. <br />BAAHA has an affiliate real estate company that it works with, Home Quest Realty. Walter <br />Zhovreboff,the Administrative Director, is the owner/broker of Home Quest Realty. <br />Pleasanton Down Payment Assistance Proeram (PDALP) <br />BAAHA would charge a fee of two thousand five hundred ($2,500)dollars for each"closed" <br />PDALP transaction using its established preferred protocols for administering the PDALP <br />program. <br />Program Review and Design <br />BAAHA, in conjunction with the City proposes to initially conduct a comprehensive review and <br />analysis focused on evaluating the effectiveness and capacity of delivering the PDALP to the <br />Pleasanton community. Strategies, concepts, and activities to be covered in the Program review <br />will include and not be limited to: <br />Conduct a current market study focused on the pricing and property size distribution of <br />sold Pleasanton single family dwelling over the past twelve months. This part of the <br />study will help the City and BAAHA understand the current supply side of the market <br />and establish a platform to determine the viability of funding strategies and requirements <br />to assist prospective PDALP participants <br />Review and assess the viability and impact of securing and leveraging additional readily <br />available sources of down payment subsidies provided through potential partnering <br />public and private organizations. <br />Explore the viability of setting PDALP funds aside to assist lower income households to <br />purchase either new or resale median to moderate priced PHAP(BMR)properties. This <br />9 1 P a g e <br />Docusign Envelope ID: F53F1E05-ADA3-465D-BE20-156E055217E3