Agenda - 05-02-1988 - Laserfiche WebLink

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058 7. In the event that a Section 202 loan is not made to the Applicant by the Secretary, this Contract shall be considered terminated and the Applicant shall have no further liability for payments due hereunder. 8. The Applicant may from time to time request changes in the scope of the services of the Housing Consultant to be performed hereunder. Such changes, including any increase or decrease in the amount of the Housing Consultant's compensation. which are mutually agreed upon by and between the nonprofit Applicant and the Housing Consultant, and are approved by the Secretary, shall be incoroporated in written amendments to this Contract. 9. To induce the Secretary to make a loan to finance the development of the project, the Housing Consultant: - (a) Agrees and avers that the statements certified to on HUD Form Number 92531-A under date of 25 April . 1988 are true, correct and complete to the best of his/her knowledge and belief; and (b) Agrees upon final payment of the fee provided above, to furnish to the Applicant a certified receipt on Form HUD-92531-B reaffirming the statements made in the aforesaid certificate. 10.In no event shall the parties to this Contract have or assert any claim against the Federal Government or the Secretary by reason of this Contract, or any action taken by the Federal Government with respect to the project or loan application, including disapproval of the loan. 11. The terms and conditions of this Contract are subject to the review and approval of the Secretary, including FHA-2530 Previous Participation review. 12. Notwithstanding the execution of this Contract by the Applicant and the Housing Consultant and the fact that work has commenced hereunder, the terms and conditions may be amended upon review and approval by the Secretary. IN WITNESS WHEREOF, the nonprofit Applicant and the Housing Consultant have executed this Contract the date first above written. The InterFaith Council for Social Service, Inc. L.Lane Sarver,Inc. BY: �r.J BY: iitiffilSrivirlf—' Nonprofit Applicant Housing Consultant (NOTE: Appropriate additional provisions may be added as requried and agreed upon by the parties to the Contract and approved by the Secretary.) WARNING Section 1001 of Title 18 of the United States Code (Criminal Code and Criminal Procedure, 72 Stat.967) shall apply to such statements. (18 U.S.C. 1001, among other things, provides that whoever knowingly and willfully makes or uses a document or writing containing any false, fictitious, fraudulent statement or entry, in any matter within the Jurisdiction of any department or agency of the United States, shall be fined not more than $10,000 or Imprisoned for not more than five years, or both.) Service to be Performed Percentage of by Housing Consultant Total Fes 1. Initial meeting with non-profit sponsor and formation of non-profit corporation 6% 2.Selection of development team 4% 3.Preparation and submission of fund reservation Application 8% 4.Preparation and submission of Conditional Commitment application 22% 5.Preparation and submission of Firm Commitment application 12% 6.Initial Closing 8% 7.Construction Period-site visits, preparation of construction draws,preparation of and advice regarding change orders & application for mortgage increase 15% 8.Cost Certification 796 9.Final Closing 996 10.Rent-Up 9-11 TOTAL 100% •If Borrower chooses to by-pass a phase of processing, the percentage attributable to the by-passed phase will be added to the next phase. page 3 of 3 HUD-92531-A (EH) (3-81)