Agenda - 06-16-1987 - Laserfiche WebLink

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034 1.5 (d) Project, ■UU shall. within a reasonable period of tire, take the additional steps autborised by Section d(e)(6) of the Act as may be necessary to carry out this assurance, including (as provided in that section of the Art) `the reservation of annual contributions authority for the purpose of ascending housing assistance contracts or the allocation of a portion of mew autborizatious for the Purpose of amending housing assistance contracts.0 EM will make periodic Payments on account of each Project apoc requisition by the !RA to the form prescribed by HUD. tech requisitioc shall include certifications by the PHA that housing assistance payments have been or will be made only: (1) In accordance with the provisions of the Contract as the provisionF apply to (1) units under lease by Families and (ii) waits not made- least by families, and (2 ) With respect to units which the PRA has inspected or caused to be Inspected and determined to be in decent, safe and sanitary condition, pursuant to Section 2.4 of this ACC, within one year prior to the making of housing assistance psyserts. (e) following the end of each !local Tear, any amount by which the total payments made during that Fiscal Tear exceed the Annual Contributioc payable in accordance with this section will be subtracted from the next payment made by HUD to the MAA, unless other disposition is approved or required by HUD. Fiscal Year. The Fiscal Tear for the Program shall be the fiscal Tear established by Section 0.3 of this ACC. ■ovever. the first fiscal Tear for any Project shall be the period beginning with the effective date of the Proje :- Identified in txhibit I to this ACC end ending on the last day of the established Fiscal Year which is not less than 12 soaths nor more tbar. 2? months after the effective date. If the first Fiscal Year axeeeds 12 months, the Maximum ACC Commitment shall be adjusted by the addition of the pro rat.e amount applicable to the period of operation in excess of 12 months. 2.6 Periodic AdJustment of Contract Rents. The Contract will provide for period! adjustments in the Contract Rents chargeable by the Owner and eommetsurat Increases in amounts of housing assistance payments, in accordance wit applicable HUD regulations, map to the maximum cant authorized for bousin assistance payments in the HW approved estimate submitted pursuant to Sectio 2.11. 1.7 squal Opportunity H ousint Plan, Administrative Plat and Application. The M Mull comply with all provisions of its Hqual Opportunity Housing Plan Administrative Plan and Application, each as approved by Him. IA XMdi�� Carrfins, Out Fr. 'ire M shall proceed expeditiously V Implement the Program consistent with the rehabilitation and leasing schedule If the PRA fails to proceed expeditiously. MD. after giving the MA an Owners, Ober- appropriate. reasonable opportunity to take corrective actior may terminate or reduce its obligation ender this ACC Fart I with respect t the Project.