§ 2405-f. New York state community restoration fund. (1) Definitions.\nFor the purposes of this section, the following terms shall have the\nfollowing meanings:\n (a) "fund" shall mean the New York state community restoration fund\nestablished pursuant to subdivision two of this section;\n (b) "residential home loan" shall mean a first or subordinate lien\nloan, including mortgage loans purchased by the agency under section\ntwenty-four hundred five-b of this part, that is secured by a borrower's\ninterest in: (i) residential real property, including as defined in\nsection thirteen hundred five of the real property actions and\nproceedings law, and any improvements or structures thereon; (ii) a\nshare or shares of a cooperative corporation that entitles a borrower to\na housing unit; or (iii) a residential structure that is part of a\ncondominium development. Residential home loan shall also include\ninterest, taxes, homeownership associations fees, carrying charges, and\nother liens encumbering the residence;\n (c) "vacant and abandoned" residential real property shall mean (i)\nresidential real property, as defined in section thirteen hundred five\nof the real property actions and proceedings law, where the property is\nnot occupied by the tenant, as that term is defined in section thirteen\nhundred five of the real property actions and proceedings law,\nhomeowner, or mortgagor and (ii) either:\n (A) the property is a risk to the health, safety, or welfare of the\npublic, or any adjoining or adjacent property owners, due to acts of\nvandalism, loitering, criminal conduct, or physical destruction or\ndeterioration of the property; or\n (B) the relevant governmental authority has declared the property\nunfit for occupancy and either ordered that the property remain vacant\nand unoccupied or ordered that the property be demolished; or\n (C) each homeowner or mortgagor has separately informed the mortgagee,\nin writing, that they do not intend to occupy the property in the\nfuture, and\n (iii) where indicia of lack of occupancy may include, but shall not be\nlimited to: (A) overgrown or dead vegetation; (B) accumulation of\nnewspapers, circulars, flyers, or mail; (C) past due utility notices,\ndisconnected utilities or utilities not in use; (D) accumulation of\ntrash, refuse or other debris; (E) absence of window coverings such as\ncurtains, blinds, or shutters; (F) absence of furnishings or personal\nitems consistent with residential habitation; (G) one or more boarded,\nmissing or broken windows; (H) the property is open to casual entry or\ntrespass; (I) the property has a building or structure that is or\nappears structurally unsound or has any other condition that presents a\npotential hazard or danger to the safety of persons, and\n (iv) where such residential real property shall not be considered\n"vacant and abandoned" if, on the property: (A) there is an unoccupied\nbuilding which is undergoing construction, renovation, or rehabilitation\nthat is proceeding to completion, and the building is in compliance with\nall applicable ordinances, codes, regulations, and statutes; (B) there\nis a building that is secure, but is the subject of a probate action,\naction to quiet title, or other similar ownership dispute; (C) there is\na building damaged by natural disaster upon declaration of a state\ndisaster emergency by the governor pursuant to section twenty-eight of\nthe executive law relating to any claim arising from the cause of such\ndeclaration, while awaiting funds to repair; or (D) there is a building\noccupied on a seasonal basis, but otherwise secure;\n (d) "homeowner" shall mean a natural person who has a legal interest\nin the property other than a tenant and is the occupant of a residence\nthat secures such residential home loan;\n (e) "eligible institution" shall mean a community development\nfinancial institution or a community development financial institution\npartnered with a not-for-profit, housing c
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