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execute and submit the required certifications, and shall prepare and <br />submit its plan for monitoring compliance with the Consolidated Plan, <br />The Lead Entity assumes overall responsibility for ensuring that the <br />Consortium's HOME Program is carried out in compliance with the <br />requirements of the HOME Program, including requirements concerning <br />a Consolidated Plan in accordance with HUD regulations in 24 CFR 91 <br />and 92. <br />4. The Cooperating Units shall be entitled to a pro rata portion of the <br />HOME funding for eligible uses under the HOME bill and shall be <br />responsible for meeting the matching funds requirements. The <br />Consortium Board shall prorate funding to individual units. Allocations <br />will be based on similar criteria used by HUD to determine yearly <br />participating jurisdiction funding levels. <br />5. The Consortium agrees that 15% of all HOME funds received will be set <br />aside for the use of Community Housing Development Organizations <br />(CHDOs) within the three county consortium. All CHDO's must have a <br />501 C-3 tax status as required by federal law. <br />6. The Consortium Board shall have the right to reallocate funding that a <br />respective County and/or City is unable to use due to a lack of eligible <br />projects or matching resources. Each County and/or City has twenty- <br />four months to expend the funds before reallocation. <br />7. With reference to any program income generated from the HOME funds, <br />federal regulations shall govern placement of HOME program income <br />into local trust funds. Individual Consortium members will be responsible <br />for separately accounting for program income on each Cooperating Unit <br />projects. Program Income on projects shall be available for use by the <br />individual member on other approved HOME activities. <br />8. The Cooperating Units do hereby agree to inform the Lead Entity, in <br />writing, of any income generated by the expenditure of HOME funds <br />received by the Cooperating Units. <br />9. The Cooperating Units and Lead Entity shall affirmatively further fair <br />housing. <br />10. The Cooperating Units, as parties to the Consortium, agree that they shall <br />direct all activities, with respect to the Consortium, to the improvement of <br />housing conditions in the State of North Carolina. <br />11. Any person shall not construe this agreement to extend a benefit or <br />liability to any person or entity not a party to this agreement. <br />12. The Cooperative Unita, as parties to the Consortium, agree to defend, <br />indemnify, and save harmless all Cooperating Units, their agents, officers, <br />and employees, from and against all charges that arise in the manner <br />from, in connection with, or out of this contract as a result of the acts or <br />omissions of contractors or subcontractor or anyone directly or indirectly <br />employed by any of them or anyone fox whose acts of any of them may be <br />liable. <br />13. The term of this agreement will cover the period necessary to carry out all <br />activities that will be funded from funds awarded for three federal fiscal <br />years and the units of general local government which join the Consortium <br />will remain in the Consortium for this entire period. The qualification <br />F-3 <br />