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e. The cash value of securities or U.S. Savings Bonds. <br />f. The current market value of all interests in real estate, not <br />including the structure to be improved, and a parcel of real <br />property of not more than two (2) acres on which the struc- <br />ture is located. Included in this determination is any land <br />to which any resident of the household holds title to or is <br />selling on contract for deed. The value of contract for deed <br />property shall be defined as 100`0 of the outstanding balance <br />on the contract. <br />g. All other property, exclusive of household furnishings, <br />clothing and one vehicle. This section includes but is not <br />limited to: farm equipment, boats, snowmobiles, motorcycles, <br />farm stock and additional vehicles. <br />h. If the applicant owns a business, in full or in part, and <br />that business is incorporated, then the business equipment is <br />not a personal asset. If the business is not incorporated, <br />the business equipment is then considered a personal asset. <br />The value of the ownership of the business by the applicant <br />is a personal asset. If the applicant owns less than 100; of <br />the business, written notarized proof of the percent of <br />ownership must be provided by the applicant to the grant <br />administrator. <br />2. Recipient's asset limit: The gross assets of the recipient, <br />excluding the residential property to be improved, shall not <br />exceed S25,000. <br />12 <br />