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l <br />H. The County and the Towns mutually agree that the aHC's HOME program will provide <br />fair and ample opportunity for all members of the consortium to access the funding <br />brought to it in an amount that shall be determined by the State, and that the County and <br />Towns shall be given ample opportunity to comment on and approve the distribution of <br />all funding made available through the aHC. <br />I. The County as Lead Entity will f Hance the costs of administering the HOME Program <br />for aHC to the extent of appropriations. The County shall establish the HOME <br />Investment Trust Fund as specif ed in 24 CFR Part 92.500, and will participate in the <br />Integrated Disbursement and Information System and other accounting and compliance <br />procedures as required by HUD. ~ ; -~ ~ , . <br />J. If local matching funds are required by HUD, the~~ County and Towns mutually agree that <br />the matching funds shall be provided in accordance with the following formula: <br />1. Urange County -- 39 <br />2. Town of Carrboro -- I S% <br />3. Town of Ch apel Hill -- 41 <br />4. Town of ,~Iillsborough ,~- S~ <br />This formula is based opt the population of the member jurisdictions according to the <br />2010 Census and shall be recarcr~lated wne year follo~ving~each decennial census. <br />I. HaME funds, invested i~-affordable~;h~using shalt°~be, repaid if the housing does not meet <br />the afforda~b~~l~ty requirements of Section 92.252 and Section 92.254 of the Regulations or <br />if the housing ceases to qualify as affordable housing before the period of affordability <br />exprc:;;.:,:If: IUD, ir:.a ,. . <br />ccard~ance:..w,ith Sectia.~92.503 of the Regulations, requires OHC to <br />::. <br />re .a <br />HOME~~funds , <br />. ~ ~ ~ ., awarded the ~ County and Towns agree that the payments will be <br />~~triade in accordance with~the formula specif ed in Paragraph H of this Section. <br />J. Any re~:yment of HOME funds `loans or other program income generated from funds <br />received through the H~JME program, shall be returned to the HOME Investment Trust <br />Fund established by the.'~~Lead Entity and reallocated by the OHC Program Council during <br />the next HOMES ::program design process following receipt of the repayments or other <br />program income, ~ ::to:~~ the extent allowed by the Regulations and Federal Program <br />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 off cers of the County and Towns <br />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 Agreement <br />shall indemnify and hold harmless the County and other Towns, and their officers, <br />officials, and employees, from and against any and all costs, damages, liabilities, claims, <br /> <br />