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NORTH CAROLINA HOUSING TI~UST FUND <br />URGENT REPAIR PROGRAM <br /> <br />FUNDING AGREEMENT <br /> <br /> This Funding Agreement (the "Agreement") is entered into on the 1st day of <br />November, 1999, by the North Carolina Housing Finance Agency (the "Agency"), a public <br />agency of the State of North Carolina and Cabarrus County Department on Aging (the <br />"Recipient"). <br /> <br />Recitals <br /> <br /> Whereas, the North Carolina Housing Trust Fund (the "Fund") was created by the <br />1987 Session of the North Carolina General Assembly which added Chapter 122E to the <br />General Statutes, entitled the North Carolina Housing Trust Fund and Oil Overcharge Act (the <br />"Act"); and <br /> <br /> Whereas, the Act also created the North Carolina Housing Partnership (the <br />"Partnership") to establish policies for programs of the Fund; and <br /> <br /> Whereas, the Partnership has adopted policy guidelines for the operation of an Urgent <br />Repair Program (the "Program") from the Fund; and <br /> <br /> Whereas, the Agency is responsible for implementing and operating programs of the <br />Fund based on the policies of the Partnership; and <br /> <br /> Whereas, the Agency has advertised the availability of applications for funding under <br />the Program; <br /> <br />F:~RIVATE~HOPD\URi~URP99~FUNDING AGREEMENT MERGE..DOC <br /> <br />Page 1 of 7 <br /> <br /> <br />