Orange County NC Website
Browse       Search
4 <br />H. If local matching funds are required by HUD, the County and Towns mutually <br />agree that the matching funds shall be provided in accordance with the following <br />formula: <br />1. Orange County -- 40% <br />2. Town of Carrboro -- 14% <br />3. Town of Chapel Hill -- 41 <br />4. Town of Hillsborough -- 5% <br />I. HOME funds invested in affordable housing shall be repaid if the housing does <br />not meet the affordability requirements of Section 92.252 and Section 92.254 of <br />the Regulations or if the housing ceases to qualify as affordable housing before <br />the period of affordability expires. If HUD, in accordance with Section 92.503 of <br />the Regulations, requires OHC to repay HOME funds awarded, the County and <br />Towns agree that the payments will be made in accordance with the formula <br />specified in Paragraph H of this Section. <br />Any repayment of HOME funds, loans or other program income generated from <br />funds received through the HOME Program, shall be returned to the HOME <br />Investment Trust Fund established by the Lead Entity and reallocated by the OHC <br />Program Council during the next HOME program design process following <br />receipt of the repayments or other program income, to the extent allowed by the <br />Regulations and Federal Program Requirements. <br />K. The County and Towns agree to comply with all Regulations, Federal Program <br />Requirements, and OHC HOME program design features and requirements. <br />L. This Agreement shall be executed by the appropriate officers of the County and <br />Towns pursuant to authority granted them by their governing bodies. <br />M. To the maximum extent permitted by law, each Town which is a party to this <br />Agreement shall indemnify and hold harmless the County and other Towns, and <br />their officers, officials, and employees, from and against any and all costs, <br />damages, liabilities, claims, losses, judgments or expenses, including reasonable <br />attorneys fees, arising in any manner from or as a result of any activities by or on <br />behalf of the Towns under this Agreement other than as provided for in Paragraph <br />I of this Section, provided, however, that nothing in this paragraph indemnifies <br />and holds harmless the County and other Towns from and against any costs, <br />damages, liabilities, claims, losses, judgments or expenses, including reasonable <br />attorneys fees, arising in any manner from or as a result of negligent acts or <br />omissions of the County, and other Towns or their officers, officials, and <br />employees. Likewise, the County shall indemnify and hold harmless the Towns, <br />and the Towns' officers, officials, and employees, from and against any and all <br />costs, damages, liabilities, claims, losses, judgments or expenses, including <br />reasonable attorneys fees, arising in any manner from or as a result of any <br />