14. Program Interactions
with HAMP

Homeowners can receive HAMP assistance (including UP
program assistance) prior to or after receiving Hardest Hit
Funds assistance; Hardest Hit Funds cannot be used to
pay HAMP trial period payments. Lender/Servicers to
follow current guidance issued by their investor and/or
USS. Treasury.

15. Program Leverage
with Other Financial
Resources

Lender/Servicer agrees to waive all accumulated late fees and
NSF fees. No further matching is required.

16. Qualify as an
Unemployment
Program

MYes ONo

Doc#: US1:8222593v3



[5. Borrower Eligibility
Criteria

MHA determines homeowner eligibility. Homeowners who
have had a qualifying, involuntary hardship (for example,
decreased income or a catastrophic event). Homeowners are
required to provide a hardship affidavit; it must be the
occupying Homeowner who has the qualifying, involuntary
hardship. If providing assistance on a second lien, first lien
must be documented as current. MHA considers a sustainable
mortgage payment 45% or less (gross household income to
validated mortgage payment). If the property is free and clear
of mortgage liens, sustainable housing ratio will be calculated
on monthly payment of annual tax, hazard insurance expenses
and condominium association fees, if applicable; must be 45%
or less.

6. Property/Loan
Eligibility Criteria

The homeowner must currently occupy the property as his/her
primary residence and it must be located within the state of
Michigan. Homeowners must execute all Hardest Hit Funds
application and closing documents. Eligible structures to
include single-family, attached or detached, or manufactured
homes on a permanent foundation attached to real property;
one- to four-unit properties are eligible if one unit is primary
residence of homeowner. Existing mortgage loan balance must
be equal to or less than $729,250.

7. Program Exclusions

Second homes or investment properties. Homeowners with
liquid cash reserves exceeding six (6) months validated
mortgage payments. Lender/Servicer is not required to accept
homeowner to the program if a notice of trustee/sheriff sale has
been recorded or the trustee/sheriff sale is scheduled less than
seven (7) days from date the Lender/Servicer is notified of
borrower eligibility.

Doc#: US1:8222593v3


SCHEDULE C
PERMITTED EXPENSES

One-time / Start-Up Expenses:

Initial Personnel $0.00
Building, Equipment, Technology $0.00
Professional Services $325,000.00
Supplies / Miscellaneous $0.00
Marketing /Communications $262,500.00
Travel $0.00
Website development /Translation $0.00
Contingency $0.00
Subtotal $587,500.00
Operating / Administrative
Expenses:
Salaries $30,290,300.00
Professional Services (Legal,
Compliance, Audit, Monitoring) _ $2,040,000.00
Travel $35,000.00
Buildings, Leases & Equipment $390,000.00
Information Technology &
Communications $225,000.00
Office Supplies/Postage and
Delivery/Subscriptions $478,000.00
Risk Management/ Insurance $0.00
Training _ $50,000.00
Marketing/PR $7,860,003.00
Miscellaneous $4,800,000.00

Subtotal $46,168,303.00

Transaction Related Expenses:

Recording Fees $2,454,440
Wire Transfer Fees $225,000
Counseling Expenses

File Intake $0.00
Decision Costs $0.00
Successful File $0.00
Key Business Partners On-Going $3,240,000

Subtotal $5,919,440.00

Grand Total | _ $52,675,243.00 |

Doc#: US1:8222593v3


In Witness Whereof, HFA, Eligible Entity and Treasury by their duly authorized officials
hereby execute and deliver this Sixth Amendment to Commitment to Purchase Financial
Instrument and HFA Participation Agreement as of the Amendment Date.

HFA:

MICHIGAN STATE HOUSING
DEVELOPMENT AUTHORITY

By:

Name:
Title:

ELIGIBLE ENTITY:

MICHIGAN HOMEOWNER ASSISTANCE,
NONPROFIT HOUSING CORPORATION

By:

Name:
Title:

TREASURY:

UNITED STATES DEPARTMENT OF THE
TREASURY

By: im nen \

Name: Timothy G. Massad
Title: Assistant Secretary for
Financial Stability

{Signature Page to Sixth Amendment to HPA — Michigan]


SERVICE SCHEDULE B-4
Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA)
acting through
Michigan State Housing Development Authority (MSHDA)

MODIFICATION PLAN PROGRAM (MP)

Summary Guidelines

1. Program Overview Michigan’s Modification Plan Program provides a permanent
solution to many homeowners who have fallen behind due to a
qualifying, involuntary hardship, for example loss of income, but
have the ability to sustain homeownership if their mortgage
payment is modified. Up to $30,000 in assistance may be
provided to the Lender/Servicer to pay the capitalized balance in
order to contribute towards reaching a lower, sustainable
monthly payment. Re-amortization only or Recast Modifications
are eligible.

2. Program Goals This program will prevent avoidable foreclosures by putting
homeowners, who otherwise are on the brink of foreclosure, into
a permanent, affordable loan modification allowing them to
maintain homeownership, curb vacancies and stabilize local
communities.

3. Target MHA does not anticipate targeting this assistance on a
Population/Areas geographic basis, nor have we anticipated targeting specific
income limits.
4. Program Allocation $18,851,031

(Excluding
Administrative
Expenses)
5. Borrower Eligibility MHA determines homeowner eligibility. Homeowners who have
Criteria had a qualifying, involuntary hardship (for example, decreased
income or a catastrophic event) and present housing payment is
greater than 45%. MHA considers a sustainable mortgage
payment 45% or less (gross household income to validated
mortgage payment). Homeowners are required to provide a
hardship affidavit; it must be the occupying Homeowner who
has the qualifying, involuntary hardship.
6. Property/Loan The homeowner must currently occupy the property as his/her
Eligibility Criteria primary residence and it must be located within the state of
Michigan. Homeowners must execute all Hardest Hit Funds
application and closing documents. Eligible structures to include
single-family, attached or detached, or manufactured homes on a
permanent foundation attached to real property; one- to four-unit
_| properties are eligible if one unit is primary residence of

Doc#: US1:8222593v3


10. Duration of
Assistance

One-time assistance to homeowner, paid directly to
Lender/Servicer, for application towards capitalized balance,
excluding late fees and NSF fees, on homeowners’ mortgage
account.

11. Estimated Number

Based upon maximum program funding of $30,000 per

of Participating household, 628 households may be assisted.
Households

12. Program Inception/ | Program rolled out July 2012. Based on the

Duration Overwhelming need, funds allocated to this Program will likely
be exhausted third quarter of 2014.

13. Program Homeowners will only be eligible for one MHA Hardest Hit
Interactions with Funds Program. MSHDA owned and serviced loans are eligible
Other HFA for this program.

Programs

14. Program Homeowners can receive HAMP assistance (including UP
Interactions with program assistance) prior to or after receiving Hardest Hit Funds
HAMP assistance; Hardest Hit Funds cannot be used to pay HAMP trial

period payments. Lender/Servicers to follow current guidance
issued by their investor and/or U.S. Treasury.

15. Program Leverage
with Other Financial
Resources

Lender/Servicer agrees to waive all accumulated late fees and
NSF fees. No further matching is required.

16. Qualify as an
Unemployment
Program

OYes MNo

Doc#: US1:8222593v3



. Target Population /
Areas

MHA does not anticipate targeting this assistance on a
geographic basis, nor have we anticipated specific hard income
limits.

4. Program Allocation
(Excluding
Administrative
Expenses)

$220,000,000

5. Borrower Eligibility
Criteria

MHA determines homeowner eligibility. Homeowners who
have lost their job and have received Michigan unemployment
benefits within the last thirty (30) days of application date (not
registration date). Homeowners are required to provide a
hardship affidavit; it must be the occupying Homeowner who
has the qualifying, involuntary hardship. Qualifying ratio of
45% or less (gross household income, including
unemployment compensation, to borrower’s required portion
of the validated mortgage payment).

6. Property / Loan
Eligibility Criteria

The homeowner must currently occupy the property as his/her
primary residence and it must be located within the state of
Michigan. Homeowners must execute all Hardest Hit Funds
application and closing documents. Eligible structures to
include single-family, attached or detached, or manufactured
homes on a permanent foundation attached to real property;
one- to four-unit properties are eligible if one unit is primary
residence of homeowner. Existing mortgage loan balance must
be

7. Program Exclusions

Homeowners, as described above, not receiving Michigan
unemployment benefits. Second homes or investment
properties. Homeowners with liquid cash reserves exceeding
six (6) months validated mortgage payments. Assistance may
not be provided on a loan in a second-lien position.
Lender/Servicer is not required to accept homeowner to the
program if a notice of trustee/sheriff sale has been recorded or
the trustee/sheriff sale is scheduled less than seven (7) days
from date the Lender/Servicer is notified of borrower eligibility.

Doc#: US1:8222593v3



SERVICE SCHEDULE B-1

Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA)

acting through

Michigan State Housing Development Authority (MSHDA)

PRINCIPAL CURTAILMENT PROGRAM (PC)

Summary Guidelines

1. Program Overview

The Principal Curtailment Program will provide a one-time
matching fund of up to $10,000 to homeowners seeking to
modify their loans. The Lender/Servicer must agree to provide
matching forgiveness of principal and to modify the reduced
loan balance.

2. Program Goals

The Principal Curtailment Program will prevent avoidable
foreclosures by helping homeowners who have a qualifying,
involuntary hardship (for example, homeowners who currently
cannot refinance or modify their mortgages due to negative
equity positions). Homeowners will benefit from both a
restructured loan payment and the reduction in principal
balance, reducing monthly payments and increasing
sustainability.

3. Target
Population/Areas

MHA does not anticipate targeting this assistance on a
geographic basis, nor have we anticipated targeting specific
income limits.

4. Program Allocation
(Excluding
Administrative
Expenses)

$3,000,000

5. Borrower Eligibility
Criteria

MHA determines homeowner eligibility. Homeowners
presently having negative equity, greater than 100% Loan to
Value (LTV) or greater than 100% Combined Loan to Value
(CLTV), and needing principal curtailment in order to reach a
sustainable mortgage payment. Homeowners are required to
provide a hardship affidavit; it must be the occupying
Homeowner who has the qualifying, involuntary hardship. If
providing assistance on a second lien, first lien must be
documented as current. MHA considers a sustainable mortgage
payment 45% or less (gross household income to validated
mortgage payment).

Doc#: US1:8222593v3



SCHEDULE A

BASIC INFORMATION

Eligible Entity Information:
Name of the Eligible Entity:

Corporate or other organizational form:
Jurisdiction of organization:

Notice Information:

HFA Information:
Name of HFA:

Organizational form:

Date of Application:

Date of Action Plan:

Notice Information:

Doc#: US1:8222593v3

Michigan Homeowner Assistance Nonprofit
Housing Corporation

Domestic Nonprofit Corporation

State of Michigan

Michigan State Housing Development
Authority

Public body corporate and politic of the
State of Michigan

April 14, 2010

September 1, 2010

With a copy of all correspondence to:

Mary Townley, Director of Homeownership
Michigan State Housing Development Authority
735 East Michigan Avenue, PO Box 30044
Lansing, Michigan 48909
townleyml@michigan.gov

517-373-6864 (phone)


EXHIBITS AND SCHEDULES
Schedule A Basic Information

Schedule B Service Schedules
Schedule C Permitted Expenses

Doc#: US1:8222593v3


8. Structure of Assistance

Homeowners receiving assistance will execute a secured
subordinate lien mortgage and note in favor of the MHA. Loan
will be 0%, non-amortizing loan, forgivable over a five-year
term at 20% per year, which will be due on sale, transfer of the
property, or when the property ceases to be the principal
residence of the homeowner. If the primary lien is paid in full
due to ano cash out, limited-term, refinance, the MHA may
subordinate lien position in accordance with in program
guidelines. Mortgage will be recorded through public records
and ongoing monitoring, repayments, discharges, and
subordinations will be conducted by MHA. Any repayment of
program funds will be re-invested back into program
allocation. All funds remaining in the program will be returned
to Treasury after December 31, 2017.

Lender/Servicer is required to provide timely communication
of homeowner’s loan data to the MHA and agree to place
collection and foreclosure activity on hold upon their
acceptance of the homeowner into the Hardest Hit Funds
Program; active foreclosure action to be canceled upon receipt
of Hardest Hit Funds. Lender/Servicer is required to provide
evidence of timely application of Hardest Hit Funds.
Lender/Servicer is required to waive all accumulated late
charges and NSF fees.

9. Per Household
Assistance

$ 30,000 maximum per household.

10. Duration of Assistance

Monthly subsidy ceases after twelve (12) months consecutive
monthly payments OR if homeowner fails to pay their portion
of the payment in accordance with terms of the Note.

11. Estimated Number
of Participating
Households

Based upon maximum program funding of $30,000 per
household, 7,333 households may be assisted.

12. Program Inception
/Duration

Based on the overwhelming need, funds allocated to this
program will likely be exhausted 3rd quarter of 2014.

13. Program Interactions

Homeowners will only be eligible for one MHA Hardest Hit

with Other Funds Program. MSHDA owned and serviced loans are
HFA eligible for this program.
Programs

Doc#: US1:8222593v3



SCHEDULE B
SERVICE SCHEDULES

The Service Schedules attached as Schedule B to the Current HPA are hereby deleted in their entirety and
replaced with the attached Service Schedules (numbered sequentially as Service Schedule B-1, Service
Schedule B-2, et. seq.), which collectively comprise Schedule B to the HPA.

Doc#: US1:8222593v3


% of Total Award

10.56%

Award Amount

$498,605,738.00

Doc#: US1:8222593v3



SIXTH AMENDMENT TO

COMMITMENT TO PURCHASE FINANCIAL INSTRUMENT
and
HFA PARTICIPATION AGREEMENT

This Sixth Amendment to Commitment to Purchase Financial Instrument and HFA Participation
Agreement (the “Sixth Amendment”) is entered into as of the date set forth on Schedule A
attached hereto as the Sixth Amendment Date (the “Amendment Date”), by and among the
United States Department of the Treasury (“Treasury”), the undersigned party designated as
HFA whose description is set forth in Schedule A attached hereto (for convenience, a “state
housing finance agency” or “HFA”) and the undersigned institution designated by HFA to
participate in the program described below (“Eligible Entity”).

Recitals

WHEREAS, Treasury, HFA and Eligible Entity entered into that certain Commitment to
Purchase Financial Instrument and HFA Participation Agreement (the “Original HPA”) dated as
of the Closing Date, as previously amended by that certain First Amendment to Commitment to
Purchase Financial Instrument and HFA Participation Agreement (the “First Amendment”), as
further amended by that certain Second Amendment to Commitment to Purchase Financial
Instrument and HFA Participation Agreement (the “Second Amendment”), as further amended
by that certain Third Amendment to Commitment to Purchase Financial Instrument and HFA
Participation Agreement (the “Third Amendment”), as further amended by that certain Fourth
Amendment to Commitment to Purchase Financial Instrument and HFA Participation Agreement
(the “Fourth Amendment”), and as further amended by that certain Fifth Amendment to
Commitment to Purchase Financial Instrument and HFA Participation Agreement (the “Fifth
Amendment”; and together with the Original HPA as amended thereby and by the First
Amendment, Second Amendment, Third Amendment and Fourth Amendment, the “Current
HPA”), dated as of their respective dates as set forth on Schedule A attached hereto, in
connection with Treasury’s federal housing program entitled the Housing Finance Agency
Innovation Fund for the Hardest Hit Housing Markets (the “HHF Program”), which was
established pursuant to the Emergency Economic Stabilization Act of 2008 (P.L. 110-343), as
amended, as the same may be amended from time fo time (“EESA”),

WHEREAS, HFA and Eligible Entity submitted a request to Treasury to make certain revisions
to their Service Schedules and Permitted Expenses, as applicable, and Treasury has agreed to the
same;

WHEREAS, HFA, Eligible Entity and Treasury wish to enter into this Sixth Amendment to
document all approved modifications to the Service Schedules and Permitted Expenses, as
applicable;

Accordingly, in consideration of the representations, warranties, and mutual agreements set forth
herein and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, Treasury, HFA and Eligible Entity agree as follows.

Sixth Amendment to HPA — Michigan
Doc#: US1:8222593v3


of their required minimum 1:1 match. Lender/Servicer is
required to waive all accumulated late charges and non-
sufficient funds (NSF) fees.

9. Per Household
Assistance

Maximum of $10,000 per household with a minimum 1:1 mate!
from the Lender/Servicer; total of $20,000 per household.

10. Duration of Assistance

One-time assistance to homeowner paid directly to
Lender/Servicer for application towards capitalized balance.

11. Estimated Number of
Participating
Households

Three hundred (300) households could be served under this
program if they all receive the maximum funding amount of
$10,000.

12. Program Inception/
Duration

Program rolled out July 12, 2010. Based on the overwhelming
need, funds allocated to this Program will likely be exhausted
third quarter of 2014.

13. Program Interactions
with Other HFA
Programs

14, Program Interactions

with HAMP

Homeowners will only be eligible for one MHA Hardest Hit
Funds Program. MSHDA owned and serviced loans are eligible!
for this program.

Homeowners can receive HAMP assistance (including UP
program assistance) prior to or after receiving Hardest Hit
Funds assistance; Hardest Hit Funds cannot be used to
pay HAMP trial period payments. Lender/Servicers to
follow current guidance issued by their investor and/or
USS. Treasury.

15. Program Leverage with|
Other Financial
Resources

Existing Lender/Servicer will be required to match Hardest Hit
Funds at a minimum of 1:1 towards capitalized debt.
Lender/Servicer agrees to waive all accumulated late fees and
NSF fees upon receipt of Hardest Hit Funds.

16. Qualify as an
Unemployment
Program

OYes MNo

Doc#: US1:8222593v3


6. Property/Loan
Eligibility Criteria

The homeowner must currently occupy the property as his/her
primary residence and it must be located within the state of
Michigan. Homeowners must execute all Hardest Hit Funds
application and closing documents. Eligible structures to
include single-family, attached or detached, or manufactured
homes on a permanent foundation attached to real property;
one- to four-unit properties are eligible if one unit is primary
residence of homeowner. Existing mortgage loan balance must
be equal to or less than $729,250.

7. Program Exclusions

Second homes or investment properties. Homeowners with
liquid cash reserves exceeding six (6) months validated
mortgage payments. Lender/Servicer is not required to accept
homeowner to the program if a notice of trustee/sheriff sale has
been recorded or the trustee/sheriff sale is scheduled less than
seven (7) days from date the Lender/Servicer is notified of
borrower eligibility.

8. Structure of
Assistance

Homeowners receiving assistance will execute a secured
subordinate lien mortgage and note in favor of the MHA. Loan
will be 0%, non-amortizing loan, forgivable over a five-year
term at 20% per year, which will be due on sale, transfer of the
property, or when the property ceases to be the principal
residence of the homeowner. If the primary lien is paid in full
due to a no cash out, limited-term, refinance, the MHA may
subordinate lien position in accordance with program
guidelines. Mortgage will be recorded through public records
and ongoing monitoring, repayments, discharges, and
subordinations will be conducted by MHA. Any repayment of
program funds will be re-invested back into program allocation.
All funds remaining in the program will be returned to Treasury
after December 31, 2017. Hardest Hit Funds will be available
on a first come, first serve basis.

The Lender/Servicer will determine terms of modification
according to their internal guidelines. The Lender/Servicer will
transmit modification terms to the MHA for review and agree
to match MHA’s assistance dollar for dollar towards principal
curtailment. Awarded funds will be remitted to Lender/Servicer
to be applied towards the capitalized balance resulting in a
reduction in existing principal on either the first or second
mortgage.

Lender/Servicer is required to provide timely communication
of homeowner’s loan data to the MHA and agree to place
collection and foreclosure activity on hold upon their
acceptance of the homeowner into the Hardest Hit Funds
Program; active foreclosure action to be canceled upon receipt
of Hardest Hit Funds. Lender/Servicer is required to provide
evidence of timely application of Hardest Hit Funds inclusive

Doc#: US1:8222593v3



Program Participation Cap:

Portion of Program Participation Cap
Representing Original HHF Funds:

Portion of Program Participation Cap
Representing Unemployment HHF Funds:

Permitted Expenses:

Closing Date:

First Amendment Date:
Second Amendment Date:
Third Amendment Date:
Fourth Amendment Date:
Fifth Amendment Date:

Sixth Amendment Date:

Eligible Entity Depository Account Information:

Doc#: US1:8222593v3

517-335-7081 (fax)

$498,605,738.00

$154,500,000.00

$128,461,559.00

$52,675,243.00

June 23, 2010

September 23, 2010

September 29, 2010

December 16, 2010

August 3, 2011

June 28, 2012

November 15, 2012

See account information set forth in the
Depository Account Control Agreement

between Treasury and Eligible Entity
regarding the HHF Program.


homeowner. Existing mortgage loan balance must be equal to
or less than $729,250.

7. Program Exclusions

Homeowners whose Lender/Servicer is unable to permanently
modify their existing lien. Assistance may not be provided on a
loan in a second-lien position. Second homes or investment
properties. Homeowners with liquid cash reserves exceeding
six (6) months validated mortgage payments. Lender/Servicer is
not required to accept homeowner to the program if a notice of
trustee/sheriff sale has been recorded or the trustee/sheriff sale
is scheduled less than seven (7) days from date the
Lender/Servicer is notified of borrower eligibility.

8. Structure of
Assistance

Homeowners receiving assistance will execute a secured _

subordinate lien mortgage and note in favor of the MHA. Loan
will be 0%, non-amortizing loan, forgivable over a five-year term
at 20% per year, which will be due on sale, transfer of the
property, or when the property ceases to be the principal
residence of the homeowner. If the primary lien is paid in full
due to a no cash out, limited-term, refinance, the MHA may be
willing to subordinate lien position. Mortgage will be recorded
through public records and ongoing monitoring, repayments,
discharges, and subordinations will be conducted by MHA. Any
repayment of program funds will be re-invested back into
program allocation. All funds remaining in the program will be
returned to Treasury after December 31, 2017. Hardest Hit
Funds will be available on a first come, first serve basis.

The Lender/Servicer will determine terms of modification
according to their internal guidelines. The Lender/Servicer will
transmit modification terms to the MHA for review. MHA will
determine amount of assistance up to program maximum based
on delinquency amount or if the loan is current, based on
amount required to improve negative equity position. Awarded
funds will be remitted to Lender/Servicer to be applied towards
the capitalized balance.

Lender/Servicer is required to provide timely communication of
homeowner’s loan data to the MHA and agree to place collection
and foreclosure activity on hold upon their acceptance of the
homeowner into the Hardest Hit Funds Program; active
foreclosure action to be canceled upon receipt of Hardest Hit
Funds. Lender/Servicer is required to provide evidence of timely
application of Hardest Hit Funds. Lender/Servicer is required to
waive all accumulated late charges and non-sufficient funds
(NSF) fees.

9. Per Household
Assistance

One-time award up to $30,000 per household.

Doc#: US1:8222593v3


In Witness Whereof, HFA, Eligible Entity and Treasury by their duly authorized officials
hereby execute and deliver this Sixth Amendment to Commitment to Purchase Financial
Instrument and HFA Participation Agreement as of the Amendment Date.

HFA:

MICHIGAN STATE HOUSING
DEVELOPMENT AUTHORITY

By: /s/ Scott Woosley
Name: Scott Woosley
Title: Executive Director

ELIGIBLE ENTITY:

MICHIGAN HOMEOWNER ASSISTANCE
NONPROFIT HOUSING CORPORATION

By: /s/ Edwin R. Harlin
Name: Edwin R. Harlin
Title: President

TREASURY:

UNITED STATES DEPARTMENT OF THE
TREASURY

By:

Name: Timothy G. Massad
Title: Assistant Secretary for
Financial Stability

[Signature Page to Sixth Amendment to HPA — Michigan]


8. Structure of Assistance

|

Homeowners receiving assistance will execute a secured
subordinate lien mortgage and note in favor of the Eligible
Entity. Loan will be 0%, non-amortizing loan, forgivable over
a five-year term at 20% per year, which will be due on sale,
transfer of the property, or when the property ceases to be the
principal residence of the homeowner. If the primary lien is
paid in full due to a no cash out, limited-term, refinance, the
MHA may subordinate lien position in accordance with
program guidelines. Mortgage will be recorded through public
records and ongoing monitoring, repayments, discharges, and
subordinations will be conducted by MHA. Any repayment of
program funds will be re-invested back into program
allocation. All funds remaining in the program will be returned]
to Treasury after December 31, 2017. Hardest Hit Funds will
be available on a first come, first serve basis.

If assistance is paid directly to tax authority or condominium
association, homeowner will execute an additional,
simultaneous initial Demand Note in the amount of
delinquent taxes and/or delinquent condominium association
fees. Such Demand Note will be immediately replaced by a
secured lien mortgage and note with the same payment terms
described in the preceding paragraph.

Lender/Servicer and/or eligible third party (property tax
authority or condominium association) is required to provide
timely communication of homeowner’s loan data to the MHA.
and agree to place collection and foreclosure activity on hold
upon their acceptance of the homeowner into the Hardest Hit
Funds Program; active foreclosure action to be canceled upon
receipt of Hardest Hit Funds. Lender/Servicer and/or eligible
third party (property tax authority or condominium
association) is required to provide evidence of timely
application of Hardest Hit Funds. Lender/Servicer is required
to waive all accumulated late charges and non-sufficient
funds (NSF) fees.

9. Per Household
Assistance

One-time award up to $30,000 per household.

Doc#: US1:8222593v3



SERVICE SCHEDULE B-3
Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA)
acting through
Michigan State Housing Development Authority (MSHDA)

UNEMPLOYMENT MORTGAGE SUBSIDY PROGRAM (UMS)

Summary Guidelines

il. Program Overview Michigan, through its Unemployment Mortgage Subsidy
Program, directly provides funds to the Lender/Servicer to
subsidize an eligible homeowner’s current or modified
mortgage payment.

This Program assists the homeowner who has had a qualifying,
unemployment-related hardship in retaining homeownership
by subsidizing up to 50% or $1,000 (whichever is less) of the
monthly mortgage payment. The monthly subsidy will not
exceed a total of twelve (12) consecutive months or $12,000.
Homeowners will be responsible for the unsubsidized portion
of their monthly payment, which will be collected by MHA’s
special sub-servicer and sent to MHA; MHA will always remit
the full mortgage payment directly to the Lender/Servicer.
Lender/Servicer agrees to apply the funds towards validated
mortgage payments and not homeowner/condominium
association (HOA) fees unless such payments have been
escrowed and are included in the monthly mortgage payment.

Homeowners will also be eligible for upfront assistance to
contribute towards a mortgage delinquency; inclusive of
current mortgage payment due, delinquent mortgage
payments, escrow shortages, corporate advances, excluding
accrued late charges and non-sufficient funds (NSF) fees, on
homeowners’ mortgage account. Maximum reinstatement
amount cannot exceed the maximum program reservation of
$30,000 less the total amount initially reserved for twelve
(12) monthly subsidy amounts.

Program Goals Provide mortgage payment assistance to Michigan

unemployed residents helping them remain successful in
homeownership.

Doc#: US1:8222593v3


3. Miscellaneous

A. The recitals set forth at the beginning of this Sixth Amendment are true and accurate
and are incorporated herein by this reference.

B. Capitalized terms used but not defined herein shall have the meanings ascribed to
them in the HPA.

Cc. Any provision of the HPA that is determined to be prohibited or unenforceable in any
jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or
unenforceability without invalidating the remaining provisions of the HPA, and no such
prohibition or unenforceability in any jurisdiction shall invalidate such provision in any other
jurisdiction.

D. This Sixth Amendment may be executed in two or more counterparts (and by
different parties on separate counterparts), each of which shall be deemed an original, but all
of which together shall constitute one and the same instrument. Facsimile or electronic
copies of this Sixth Amendment shall be treated as originals for all purposes.

[SIGNATURE PAGE FOLLOWS; REMAINDER OF PAGE
INTENTIONALLY LEFT BLANK]

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Agreement
Amendments

A. Definitions. All references in the Current HPA to the “Agreement” shall mean the
Current HPA, as further amended by this Sixth Amendment; and all references in the
Current HPA to Schedules A, B or C shall mean the Schedules A, B or C attached to this
Sixth Amendment. All references herein to the “HPA” shall mean the Current HPA, as
further amended by this Sixth Amendment.

B. Schedule A. Schedule A attached to the Current HPA is hereby deleted in its entirety
and replaced with Schedule A attached to this Sixth Amendment.

Cc. Schedule B. Schedule B attached to the Current HPA is hereby deleted in its entirety
and replaced with Schedule B attached to this Sixth Amendment.

Dz. Schedule C. Schedule C attached to the Current HPA is hereby deleted in its entirety
and replaced with Schedule C attached to this Sixth Amendment.

Representations, Warranties and Covenants

A. HFA and Eligible Entity. HFA and Eligible Entity, each for itself, make the
following representations, warranties and covenants to Treasury and the truth and accuracy
of such representations and warranties and compliance with and performance of such
covenants are continuing obligations of HFA and Eligible Entity, each as to itself. In the
event that any of the representations or warranties made herein cease to be true and correct or
HFA or Eligible Entity breaches any of its covenants made herein, HFA or Eligible Entity, as
the case may be, agrees to notify Treasury immediately and the same shall constitute an
Event of Default under the HPA.

qd) HFA and Eligible Entity each hereby certifies, represents and warrants as of the
date hereof that each of the representations and warranties of HFA or Eligible Entity, as
applicable, contained in the HPA are true, correct, accurate and complete in all material
respects as of the date hereof. All covenants of HFA or Eligible Entity, as applicable,
contained in the HPA shall remain in full force and effect and neither HFA, nor Eligible
Entity is in breach of any such covenant.

(2) Eligible Entity has the full corporate power and authority to enter into, execute,
and deliver this Sixth Amendment and any other closing documentation delivered to
Treasury in connection with this Sixth Amendment, and to perform its obligations
hereunder and thereunder.

(3) HFA has the full legal power and authority to enter into, execute, and deliver this
Sixth Amendment and any other closing documentation delivered to Treasury in
connection with this Sixth Amendment, and to perform its obligations hereunder and
thereunder.

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SERVICE SCHEDULE B-2
Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA)
acting through
Michigan State Housing Development Authority (MSHDA)

LOAN RESCUE PROGRAM (LR)

Summary Guidelines

1. Program Overview Whether it was a divorce, a serious illness, or a recent period
of unemployment, many Michigan families have encountered
some significant obstacle in their lives that resulted in
mortgage delinquency. This program will provide up to
$30,000 in assistance to households who had a qualifying,
involuntary hardship and can sustain homeownership, but need|
assistance to catch up on delinquent payments, escrow
shortage, delinquent property taxes, and/or delinquent
condominium association fees to avoid foreclosure.
Condominium assessed fees as described in Act 59, MCL
559.101, ef seg., as amended.

2. Program Goals This program will prevent avoidable foreclosures by putting
homeowners, who otherwise are on the brink of foreclosure,
back on solid footing without increasing their mortgage debt
payments. In so doing, the program will stem the oversupply
of foreclosed homes and short sales that dominate many
markets and help stabilize the broader housing market in

Michigan.
3. Target MHA does not anticipate targeting this assistance on a
Population/Areas geographic basis, nor have we anticipated targeting specific
income limits.
4. Program Allocation $204,079,464
(Excluding
Administrative
Expenses)

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10. Duration of Assistance

One-time assistance to homeowner, paid directly to
Lender/Servicer and/or eligible third party, for application
towards homeowner’s total, accrued delinquent mortgage
payments, escrow shortages, corporate advances, excluding
late charges and NSF fees, delinquent property taxes and/or
delinquent condominium association fees on homeowners’
account. If funds are to be paid through the Lender/Servicer to
be applied towards delinquent property taxes, the
Lender/Servicer should set up an escrow account to pay
homeowners’ future property taxes for future sustainability. If
Lender/Service is not able to set up an escrow account,
assistance to pay delinquent property taxes will be disbursed
directly to the tax authority.

11. Estimated Number of
Participating Households)

Based upon maximum program funding of $30,000 per
household, 6,802 households may be assisted.

12. Program Inception /
Duration

Based on the overwhelming need, funds allocated to this
Program will likely be exhausted third quarter of 2014.

13. Program Interactions
with Other HFA
Programs

Homeowners will only be eligible for one MHA Hardest Hit
Funds Program. MSHDA owned and serviced loans are
eligible for this program. Homeowners are eligible for
simultaneous disbursements to multiple, eligible entities in this|
Program.

14. Program Interactions
with HAMP

Homeowners can receive HAMP assistance (including UP
program assistance) prior to or after receiving Hardest Hit
Funds assistance; Hardest Hit Funds cannot be used to pay
HAMP trial period payments. Lender/Servicers to follow
current guidance issued by their investor and/or U.S. Treasury.

15. Program Leverage
with Other Financial
Resources

Lender/Servicer agrees to waive all accumulated late fees and
NSF fees. No further matching is required.

16. Qualify as an
Unemployment Program|

OYes MNo

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