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<br />Agency's failure to comply with 24 CFR 58. If the Agency elects not to comply <br />with the requirement of this paragraph, the Agency may request that the City <br />conduct all environmental reviews required by 24 CFR 58 provided that the <br />Agency agree to release all administrative funds to the City, notwithstanding any <br />provision to the contrary in the I year Agreement. <br />4. The City shall enter the information required by theCPD Outcome Performance <br />Measurement System in to the IDIS reporting program. <br /> <br />B. DURATION OF AGREEMENT: <br /> <br />This Agreement shall be effective as of the day, and shall remain in effect during <br />the period of affordability required by the Act under 24 CFR Part 92.252 or <br />92.254. <br /> <br />C. TERMS AND CONDITIONS: <br /> <br />I. The Agency shall enforce this agreement through a promissory note and <br />deed of trust on all real properties receiving an investment of HOME <br />funds, which require compliance with all applicable HOME Program <br />requirements. This Agreement shall be considered breached if the <br />Agency materially fails to comply with any term in this Agreement and <br />shall result in the termination of this Agreement and the recapture of all <br />HOME funds disbursed to the Agency. <br /> <br />2. The Agency shall assume responsibility for managing the day-to-day <br />operations of its HOME program, to assure compliance with program <br />requirements outlined in 24 CFR Part 92, and for taking appropriate <br />action when performance problems arise. <br /> <br />3. The Agency shall take full responsibility for ensuring that housing <br />projects assisted with HOME funds meet the affordability and resale <br />requirements of 24 CFR 92.252 or 92.254 as applicable, and shall repay <br />its award of HOME funds in full to the City if the housing <br />does not meet the affordability requirements for the specified time <br />period. <br /> <br />4. The Agency shall retain all repayment, interest, and other return on the <br />investment of HOME funds in a separate local account for use to fund <br />additional eligible HOME activities of the Agency's choosing and <br />agrees to invest all returns on HOME investments in other eligible <br />activities before drawing down additional HOME funds from the <br />City of Concord. <br /> <br />5. The Agency shall request disbursement of HOME funds only after local <br />funds have been expended to complete each proj ect. <br /> <br />6. For each rehab project receiving HOME funds, the Agency shall submit <br />a fmal reimbursement request to the City depicting the beneficiaries and <br />indicating proj ect completion. <br /> <br />1-- 3 4- <br />