Agenda - 09-08-1981 - Laserfiche WebLink

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• - 15 in any case which do not preclude or affect occupancy, and all other requirements of the Agreement have been met, the unit(s) must be accepted. An escrow fund determined by the PHA to be sufficient to assure completion for items of delayed completion must be required, as well as a written agreement between the PHA and the owner, to be included as an exhibit to the Contract, specifying the schedule for completion. If the items are not completed within the agreed upon time period, the PHA may tenni- : nate the Contract or exercise other rights under the Contract. If other deficiencies exist, the PHA must determine whether and to what extent the deficiencies are correctable, and whether the Contract Rents should be reduced. The owner must be notified of the PHA's decision. If the corrections required by the PHA are possible, the PHA and owner must enter into an agreement for the correction of the deficiencies within a specified time. If the deficiencies are corrected within the agreed period of time, the PHA must accept the unit(s) . Otherwise, the unit(s) may not be accepted, and the owner must be notified with a statement of the reasons for nonacceptance. No later than acceptance, the owner will be required to submit the local permits and approvals required as evidence of completion and the Actual Cost and Rehabilitation Loan Certifications , on the form provided by the Authority. As well as these certifications, the Certificate of Occupancy and any other required permits will be obtained from the owner at the time of acceptance. 4. Preparation of the HAP Contract The Rehabilitation Advisor will review the owner certifications immediately following the inspection and will compare the Actual Cost and Rehabilitation Loan Certifications to the Final Feasibility Analysis and approved change orders. Contract Rents will be recal- culated if rents specified in the Agreement need to be adjusted, pursuant to 24 CFR 409(d) Changes in Initial Contract Rents During Rehabilitation. If the HAP Contract is being signed before all minor deficiencies have been resolved, an agreement describing the remaining work items, their cost, and the date by which they will be completed will be executed and attached to the HAP Contract. Within one working day after acceptance of the unit, the Rehabilitation Advisor will prepare a HAP Contract with a complete file, to include the nrnnncal The. uAb 411 L_ . .