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<br />( <br /> <br />{ <br /> <br />( <br /> <br />( <br /> <br />HOME PROGRAM AGENCY AGREEMENT <br />Cuyahoga Housing Consortium <br />City of Lakewood, Ohio <br />Homebuyer Program <br /> <br />This HOME Program Agency Agreement (the "Agreement") dated as <br />of the lst day of March, 1995 (the "Commencement Date") is made by <br />and between (i) the Cuyahoga Housing Consortium (the "Consortium"), <br />a consortium created under that certain Consortium Agreement, dated <br />June 7, 1993 as amended (the "Consortium Agreement") and executed <br />pursuant to Section 307.l5 of the Ohio Revised Code, by and among <br />the County of Cuyahoga, Ohio, as lead entity for the Consortium <br />(the "Lead Entity), the City of Euclid, Ohio, the City of Lakewood, <br />Ohio and the City of C~eveland Heights, Ohio and (ii) the City of <br />Lakewood, Ohio, a municipal corporation and political subdivision <br />duly organized and existing under the laws and Constitution of the <br />State of Ohio, whose principal address is l2650 Detroit Avenue, <br />Lakewood, Ohio 44107 (the "City"). <br /> <br />WITNESSETH: <br /> <br />WHEREAS, the Consortium hás been designated and empowered as <br />a grantee of funds from the United States Department of Housing and <br />Urban Development ("HUD") and is responsible for the development, <br />implementation, administration and evaluation of HUD's HOME <br />Investment Partnership Program, 24 CFR Part 92 authorized by the <br />HOME Investment Partnerships Act (Title II of the Cranston-Gonzalez <br />National Affordable Housing Act, Pub. L. No. lOl-625, l04 Stat. <br />4079), as amended (such Act collectively with the regulations of 24 <br />CFR Part 92, the "HOME Program") in its jurisdiction; and <br /> <br />WHEREAS, Section 92,205 of the HOME Program authorizes the use <br />of HOME Program funds (the "HOME Funds") by the Consortium to <br />provide incentives to develop and support, among other things, <br />homeownership affordability through, among other things, the <br />acquisition of non-luxury housing with suitable amenities; <br /> <br />WHEREAS, the City is a member of the Consortium pursuant to <br />the Consortium Agreement; and <br /> <br />WHEREAS, the City has proposed to the Consortium a program to <br />develop and support homeownership affordability within the <br />geographic boundaries of the city through the acquisition (the <br />"Program"), pursuant to a Homebuyer Loan Agreement (the "Homebuyer <br />Agreement") to be entered into by the City on behalf of itself and <br />the Consortium and a borrower (individually, an "Eligible Borrower" <br />and collectively, the "Eligible Borrowers"), a form of which is set <br />forth in Exhibit A attached hereto and made a part hereof (the <br /> <br />-l- <br />