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Homeowner Closing Documents

Find sample ReBuild NC closing documents detailing necessary terms and agreements, flood insurance requirements, and construction contracts below. For a general overview of what to expect throughout the closing process, see the “Know Before You Close” document.

Know Before You Close

Grant Agreement

If you have been offered an award from the ReBuild NC Homeowner Recovery Program, you will need to sign a grant agreement at your closing appointment. Below are sample grant agreements that contain the terms and conditions that you must agree to in order to accept your award.

Please review the grant agreement that matches your award type:

Subrogation Agreement

Prior to closing, you will be required to sign a subrogation agreement assigning the program all your future rights to payments from FEMA, SBA, insurance policies, and/or nonprofits for repairing damage to your home sustained from Hurricane Matthew. This is a federal requirement.

Below is a sample subrogation agreement containing the terms and conditions to which you must agree in order to accept your grant award.

Flood Insurance Reminder

If your home is in a Special Flood Hazard Area (SFHA), you will be required to maintain adequate structural flood insurance at ALL times for your home. Federal law requires that homeowners who receive federal disaster assistance for a flood damaged home must purchase and maintain flood insurance coverage on the flood-damaged property for as long as the flood damaged home exists.

If the homeowner sells, donates, or in any other way transfers ownership of the home after receiving federal disaster assistance, they must inform the new owner of the requirement to maintain flood insurance coverage. In most cases, an existing flood insurance policy transfers to a new owner with no lapse in coverage.

Failure to maintain insurance may result in applicants being ineligible for future disaster relief.

Below is a sample of the flood insurance requirements reminder, which must be signed in order to accept your grant award.

Reimbursement Self-Certification

If you are being reimbursed for any repairs previously completed on your home and are receiving a reimbursement check, you must sign this document, certifying that all repairs were made prior to September 14, 2018 with your own funds.

Below is a sample Repairs Self-Certification Form which must be completed in order to accept your grant award.

Escrow Agreement

If your award includes an "escrow" amount, you will also need to sign an escrow agreement. Escrowed funds are required when you have received benefits from another source that must first be applied to a construction project, before RebuildNC can contribute your award funds to the project.

Below is a sample escrow agreement that contains the terms and conditions that you must agree to in order to accept your award.

Construction Contract

If the Program is offering to fund construction work on your home, you will need to sign a construction contract with the general contractor who has been assigned to your home by the Program. Below are sample construction contracts that contain the terms and conditions you must agree to in order for construction work to begin.

Please review the construction contract that matches your award type.