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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--42% <br /> 2. Town of Carrboro -- 12% <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 OHC is required by HUD, in accordance <br /> with Section 92.503 of the Regulations, to repay HOME funds awarded, the <br /> County and Towns agree that the payments will be made in accordance with the <br /> formula specified in Paragraph H of this Section. <br /> J. Any repayment of HOME funds, loans or other program income generated from <br /> funds received through the HONE 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 /> 4 <br />