1. (a) Occupancy requirement. The Applicant must occupy the home within sixty (60) days after the date of closing as his or her Residence. There is no occupancy requirement beyond the sixty (60) days. Borrower's receiving down payment assistance must repay the amount of assistance whenever they sell the property.
2. (b) Prohibited uses. Applicants may not use the property, or any part thereof, as an investment property, rental property, vacation or second home, or recreational home.

Source Note:The provisions of this §28.5 adopted to be effective October 30, 2012, 37 TexReg 8504.