Laserfiche WebLink
the City and the County, shall be incorporated into written amendments to this <br />Agreement. <br /> <br />B. DURATION OF AGREEMENT: <br /> <br />This Agreement shall be effective as of the day set forth above and shall remain <br />in effect during the period of affordability required by the Act under 24 CFR <br />Part 92.252 or 92.254. <br /> <br />C. TERMS AND CONDITIONS: <br /> <br />1. The County shall enforce this Agreement through a promissory note and deed of <br />trust on all real properties receiving an investment of County Program funds <br />which shall require compliance with all applicable Program requirements. This <br />Agreement shall be considered breached by the County if the County materially <br />fails to comply with any material term in this Agreement and upon receipt of <br />written notice from the City, fails to cure such breach within thirty (30) days. <br />In such case this Agreement shall terminate upon receipt by the County of <br />written notice of termination for cause from the City and shall result in the <br />recapture by the City of all then uncommitted Program funds disbursed to the <br />County. <br /> <br />2. The County shall assume responsibility for; (I) managing the day-to-day <br />operations of its portion of the Program; and (ii)insuring compliance with <br />Program requirements outlined in 24 CFR Part 92; and (iii) taking appropriate <br />action when performance problems arise. <br /> <br />3. The County shall take full responsibility for ensuring that housing projects <br />assisted with Program funds meet the affordability and resale requirements of 24 <br />CFR 92.252 or 92.254 as applicable, and shall repay its award of Program funds <br />in full to the City if the housing does not meet the affordability requirements <br />for the specified time period. <br /> <br />4. The County shall retain all repayment, interest, and other return on the <br />investment of Program funds in a separate local account for use to fund <br />additional eligible Program activities of the County's choosing and agrees to <br />invest all returns on Program investments in other eligible activities before <br />drawing down additional Program funds from the City. <br /> <br />5. The County shall request disbursement of Program funds for Project only after <br />all available local funds, if any, have been expended to complete each Project. <br /> <br />6. For each rehab project receiving Program funds, the County shall submit a <br />final reimbursement request to the City depicting the beneficiaries and <br />indicating Project completion. <br /> <br />7. The County shall require all owners of housing assisted with Program funds to <br />maintain the housing in compliance with applicable Housing Quality Standards and <br />local housing code requirements for the duration of this Agreement, in <br />accordance with any HUD requirement and the agreement with the owner. <br /> <br />8. The County shall, where applicable, review the activities of owners of rental <br />housing assisted with Program funds to assure compliance with the requirements <br />set out in 24 CFR Part 92 not less than annually. Each review must include an <br />annual onsite inspection to determine compliance with housing codes and the <br /> <br /> <br />