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NORTH CAROLINA HOUSING TRUST FUND <br /> <br />URGENT REPAIR PROGRAM <br /> <br />FUNDING AGREEMENT <br /> <br /> This Funding Agreement (the "Agreement") is entered into on the 15th day of <br />September, 1997, by the North Carolina Housing Finance Agency (the "Agency"), a public <br />agency of the State of North Carolina and Cabarrus County Department of 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 <br />(the "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 <br />Urgent Repair Pro.am (the "Program") from the Fund: and <br /> <br /> Whereas. the Agency is responsible for implementing and operating pro.ams of <br />the Fund based on the policies of the Partnership: and <br /> <br /> Whereas. the Agency has advertised the availability of applications for funding <br />under the Pro.am: <br /> <br />F:~ R IVATL;M-IOPD~UR I~UR P97h;LrNDING.AGE <br /> <br />Page I of 7 <br /> <br /> <br />