RDA Agmt 2009 Bay Area Homebuyer Agency (2)

Home

EXHIBIT B COMPENSATION SCHEDULE Consultant shall bill Agency on a quarterly basis for services rendered on billing rates based on actual hours or unit costs applied towards services as described below: General Program Development and Advancement Continued program design and structure review FTHB 81H/BMR Documentand collateral material design, standardization and production FTHB 8 IH/BMR -director level Documentand collateral material design, standardization and production FTHB & IH/BMR -staff support Gross projected costs for one time expenses Hours Hour fee TotalCOSt 5 $160.00 $800 CO St Per General Program Administration (not to exceed amounts) Ongoing Program administrative activities and support Ongoing professional community/sector support and activities Gross projected costs for program administration (annual) Deliverables (cost will vary based on units delivered) Seminars Workshops profession al sector Post purchase workshop Annual monitoring of IH/BMR/FTHB units H omebuye r cou nse ling fo r I H/BM R and FTH B ` Administrative fee for sales IH/BM R transactions -new sales and resales ' Underwriting and administrative fees for FTHB Program - 1.5% of funding ` Refinance of IH/BMR and/or FTHB loans Gross projected costs for deliverables (annua!) BMRs Sales and Resales •* Charge billed to and incurred by seller GROSS PROJECTED ADMINISTRATIVE COSTS $44,836 • Costs will varybased on the numberofunits delivered -which is unknown at this time if activity is greater than anticipated the a mountunderfhe contractcould exceed the budgeted amount „ The costs incurred through the resale of IH/BMR units will be paid by the seller; however, certain circumstances (such as a default on the unit) may require that the City to be responsible for paying fees associated with the sale of the unit Non~ity Potential Fees The fees depicted below maybe earned by BAHBA and it's Administrative Arm First Home, Inc, through therepresentatlon ofsales and financing ofhomeowners who mayor may not be utilizing the City's /H/BMR or FTHB Programs. All Program participants are and will be encouraged to utilize their own preferred lender and/or real estate agent and are underno obligation to utilize the real es fate sales and financing services offered through First Home, Inc. and its affiliates. Financing related fees ' Points charged for loans range from 0.75% to 1 .5% First and subordinate loan (exGuding FTHB loan) processing fee will not exceed $500 depending on the complexity of the transaction File administrative fees forthe first loan and subordinate fee (exGuding City loan) will not exceed $1,000. depending on the complexity of the file Buyerand Sellerrea/estate sales representation "' All FTHB (non IH/BMR) buyer transactions represented by FHI or its affiliates will be paid and based upon the customary compensation industry standard in the region. Normally paid by the seller and ranging from 2.5% to 3.0% of the purchase price 15 $160.00 $2,400 21 $60.00 $1,260 $4,4130 per qtr $2,500 $10,000 per qtr $1,750 $7,000 $4, 250 $17,000 Total Projected Cost Per Units Per Unit Cost Category 2 $2,500 $5,000 1 $750 $750 1 $1,500 $1,500 50 $175 $6,750 25 $125 $3,1 25 3 $500 $1,500 1.50% $150,D00 $2,250 1 $500 $500 $23,375 Total Projected Cost Per Units Per Unit Cost Category 3.00°/ of sales price Consulting Services Agreement between July 1, 2009 RDA of the City of San Leandro and BAHBA --Exhibit B Page 1 of 1