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G. First Come First Serve Rating System i. All eligible applicants will be rated on a first come first serve system in order to establish a priority of funds. However, priority will be given to applicants who are: (1.) Income ~ Priority will be given to the lowest income households who have applied, (2) - Scope of work - Priority will be given to homes who's scope of work have the highest need for rehabilitation/reconstruction, and (3) Age - Priority will be given to the oldest homeowners that apply. H. Incomplete applications will not be placed on a waiting list until all required documents for the application are provided to the Administrator and the application is verified and certified as program eligible. I. Applicants will be given a reasonable time frame to complete all application documents. Deadline for receipt of documents will be thirty (30) days from first day published in the newspaper. Documents received after the deadline date will not be considered. Incomplete applications will not be included on the waiting list. 8. PROPERTY REQUIREMENTS A. The property must be a single-family dwelling located within the Administrator's designated service area. B. The applicant must furnish evidence that the residence is insured with fire and casualty insurance in an amount sufficient to cover the fair market value of the dwelling (after rehabilitation) or the replacement dwelling (if applicable). Fire and casualty insurance is required during any recapture period and must be in effect beginning on the date that rehabilitation assistance is provided to the applicant. The purchase of a one-year policy is an eligible project cost. The Administrator must be provided with at least a thirty 30 day notice of cancellation for any reason. Any lapse of insurance coverage may be grounds for recapturing the un-forgiven loan balance. C. Under the Flood Disaster Protection Act of 1973 (42 U.S.C. 4001-4128), HOME funds may not be used with respect to the acquisition, new construction, or rehabilitation of a project located in an area jdentified by the Federal Emergency Management Agency (FEMA) as having special flood hazards, unless: i. The community where the area is located is participating in the National Flood Insurance Program, or less than a year has passed since FEMA notification regarding such hazards; and ii. Flood insurance is obtained as a condition of approval of the commitment. D. A one-year coverage insurance policy is an eligible project cost. E. After rehabilitation/reconstruction the dwelling must be in compliance with Texas Minimum Construction Standards and/or local building codes and zoning ordinances. Newly constructed homes (including reconstructs) must meet: