For Arizona Industrial Development Authority 2nd DPA liens dated on or after April 1, 2025:

The Money Source, Inc., (TMS) is the servicer of both the 1st mortgage and the Arizona Industrial Development Authority 2nd lien.

TMS has full delegation in the servicing of our Arizona IDA DPA 2nd liens. The borrower will receive two separate statements from TMS, one for the 1st mortgage and one for the Arizona IDA 2nd DPA lien. As part of our servicing agreement, TMS will administer the payoffs of each lien as well as handle the release of the DPA 2nd lien. 100% of the DPA is forgiven on the fifth anniversary of the Note date. Under state law, the DPA 2nd lien deed release must be recorded within thirty days from the satisfaction (final forgiveness or payoff) of that lien.

We do not subordinate or provide exceptions to the repayment terms on our Arizona IDA DPA 2nd liens.

For Arizona Industrial Development Authority 2nd DPA liens dated before March 31, 2025:

US Bank is the servicer of both the 1st mortgage and the Arizona IDA DPA 2nd lien. The payoff statement from US Bank on the first mortgage will also include the required payoff on the Arizona IDA DPA lien (listed as RCA: Recoverable Corporate Advance). They provide ONE payoff statement for both the first mortgage and Arizona IDA DPA 2nd lien.

If you choose to pay off the Arizona IDA DPA 2nd lien in advance of the final forgiveness period (and not part of the first mortgage payoff to US Bank), you will need to work directly with US Bank on that. When contacting them, you will need to reference your first mortgage account number and request to pay off the Recoverable Corporate Advance/RCA balance.

As part of our servicing agreement, US Bank will also handle the release of the DPA 2nd lien. Under state law, the DPA 2nd lien deed release must be recorded within thirty days from the satisfaction (final forgiveness or payoff) of that lien.

We do not subordinate or provide exceptions to the repayment terms on our Arizona IDA DPA 2nd liens.

Additionally, on the borrower’s monthly mortgage statement from US Bank, the current unforgiven balance of the Arizona IDA assistance is listed under OTHER BALANCES and labeled as Recoverable Corporate Advance/RCA. On that same mortgage statement, in the TRANSACTION ACTIVITY section, the amount of monthly forgiveness listed as RCA Adjustment.