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H. The County and the Towns mutually agree that the OHC'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 OHC. <br />I. The County as Lead Entity will finance the costs of administering the HOME Program for <br />OHC to the extent of appropriations. The County shall establish the HOME Investment <br />Trust Fund as specified in 24 CFR Part 92.500, and will participate in the Integrated <br />Disbursement and Information System and other accounting and compliance procedures <br />as required by HUD. <br />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. Orange County -- 39% <br />2. Town of Carrboro -- 15% <br />3. Town of Chapel Hill -- 41% <br />4. Town ofHillsborough -- 5% <br />This formula is based on the population of the member jurisdictions according to the <br />2010 Census and shall be recalculated one year following each decennial census. <br />I. HOME funds invested in affordable housing shall be repaid if the, housing does not meet <br />the affordability 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 />expires. If HUD, in accordance with Section 92.503 of the Regulations, requires OHC to <br />repay HOME funds awarded, the County and Towns agree that the payments will be <br />made in accordance with the formula specified in Paragraph H of this Section. <br />J. Any repayment of HOME funds, loans or other program income generated from funds <br />received through the HOME 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 HOME 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 officers of the County and Towns <br />pursuant to authority granted them by their governing bodies. <br />1VI. 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 />