AG 2002 05 20 (Regular) - Laserfiche WebLink

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AGREEMENT FOR THE EXECUTION OF A HOME INVESTMENT PARTNERSHIPS PROGRAM This Agreement, made and entered into this 1st day of July 2002, by and between the City of Concord, a municipal corporation organized and existing under the laws of the State of North Carolina, and serving as the lead entity of the Cabarms/Iredell/Rowan HOME Consortium (hereinafter "City"), and Cabarrns County, a body politic and incorporated under the laws of the State of North Carolina (hereinafter "Agency") has been designated to receive $125,352.39 in project funds and $11,566.12 for administrative costs; and WITNESSETH: WHEREAS, the City has entered into an Agreement to receive funds for'a Home Investment Partnerships Program (hereinafter" Funding Agreement") with the U. S. Department of Housing and Urban Development (hereinafter "HUD"); and WHEREAS, it is the purpose of this agreement to effect a specified portion of the program approved by the Funding Agreement in accordance with the policies expressed by and declared in Title II of the National Affordable Housing Act of 1990, as amended (hereinafter "Act"); and WHERAS, pursuant to said purpose the Agency is undertaking certain activities and desires to engage the City to render certain assistance in such undertakings. NOW, THEREFORE, for valuable consideration and mutual promises exchanged between the parties hereto, it is agreed as follows: A. SCOPE OF SERVICES: The services to be performed pursuant to this Agreement (hereinafter "Projgct"), shall be those Specified in the. Scope of Services and under the Project Title(s): Acquisition/Rehabilitation in the Action Plan submitted by the City and approved by HUD as that Action Plan now reads or as it may later be modified in accordance with regulations promulgated by HUD. The City may, from time to time, request changes in the scope of service of the Agency to be performed hereunder. Such changes, including any increase or decrease in the amount of the Agency's compensation which is mutually agreed upon by and between the City and the Agency, shall be incorporated in written amendments to this Agreement.