Laserfiche WebLink
<br />( <br /> <br />/ <br />( <br /> <br />/ <br />, <br /> <br />any federal agency auditing the Consortium HOME Loan and <br />which must be refunded to HUD; <br /> <br />c. it shall maintain and provide all required records related to a <br />construction contract, as provided therein; <br /> <br />d. it shall require any general contractor to allow the City, the <br />Lead Entity and HUD to have access to the Project Site at any <br />time for purposes of inspecting work thereon. The right of the <br />City and the Lead Entity to enter onto the Project Site to inspect <br />shall continue throughout the term of this Agreement; <br /> <br />e. it shall not engage in any conflict of interest activities <br />related to this Project prohibited under any applicable federal law <br />or regulation, including, without limitation, 24 CFR §92.356; <br /> <br />f. it shall correct all outstanding City Housing Code violations <br />after transfer of the ownership interest, as required by the City's <br />Building Department; and <br /> <br />g. during the Affordability Term (as hereinafter defmed), the <br />Eligible Borrower shall maintain the interior and exterior of all <br />buildings improved with Consortium HOME Loan in a clean, <br />healthy, and attractive condition. <br /> <br />11. Use of Consortium HOME Loan. The Eligible Borrower agrees <br />that the Consortium HOME Loan will be available and used only <br />for the Eligible Acquisition Costs under the HOME Program <br />regulations as described in 24 CFR §92.206 and as set forth in <br />Exhibit C attached hereto and made a part hereof, and will request <br />disbursement of Consortium HOME Loan only in accordance with <br />the provisions of Section 3 of this Agreement. In the event that <br />HUD determines that any such expenses paid from the Consortium <br />HOME Loan were not Eligible Acquisition Costs, the Eligible <br />Borrower shall immediately pay to the City for the benefit of the <br />Consortium or to HUD, as may be applicable, an amount equal to <br />such ineligible expenses. <br /> <br />üi. Affordable Housing Obligations. The Eligible Borrower, its <br />successors and assigns, shall comply with all HOME Program <br />minimum affordability requirements in accordance with 24 CFR <br />§92.254 (the "Affordability Requirements") as applicable to the <br />Project, including, without limitation, the following: <br /> <br />7 <br />