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Agenda - 06-29-1993 - III-L
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Agenda - 06-29-1993 - III-L
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1/23/2017 12:04:59 PM
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BOCC
Date
6/29/1993
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
III-L
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Minutes - 19930629
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\Board of County Commissioners\Minutes - Approved\1990's\1993
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6 . Miscellaneous Provisions . <br /> a. Termination of Agreement. The obligations of the parties <br /> hereunder and the specific obligation of OCHC to purchase the <br /> Property and construct homes thereon shall terminate upon the <br /> completion of the sale of two homes to qualified buyers . <br /> Continuing obligations of the buyers shall be contained in the note <br /> and deed of trust to be recorded at the time of closing of the sale <br /> of each home. Notwithstanding the foregoing, the parties hereto <br /> may terminate this Agreement at any time by a mutual agreement to <br /> that effect in writing. <br /> b. Default, Remedies. This Agreement may be terminated by a <br /> non-defaulting party upon an event of default hereunder, after <br /> written notice thereof and thirty (30) days grace period in which <br /> the defaulting party may act to cure, unless a satisfactory cure <br /> cannot be obtained in thirty ( 30) days, in which case the <br /> defaulting party must diligently and continually thereafter work to <br /> cure as soon as is possible. As used herein, the term "an event of <br /> default" shall mean and refer to a failure or act of omission by <br /> either party with respect to any undertaking, obligation, covenant <br /> or condition as set forth in this Agreement, and the defaulting <br /> party does not correct or diligently and continually act to cure <br /> such default within thirty (30) days after written notice of the <br /> default from the non-defaulting party, ' or, if a satisfactory cure <br /> cannot be obtained within thirty (30) days, the defaulting party <br /> does not correct or diligently and continually act to cure such <br /> default as soon as is possible. With respect to any event of <br /> default, the non-defaulting party may exercise any right available <br /> to it at law or in equity with respect to such default. <br /> c. Books and Records. Each party shall keep and maintain <br /> books, records and other documents relating directly to the receipt <br /> and disbursement of grant funds and the fulfillment of this <br /> Agreement. Each party agrees that any authorized representative of <br /> the County, the State, the U.S. Department of Housing and Urban <br /> Development and Comptroller General of the United States shall, at <br /> all reasonable times, have access to and the right to inspect, <br /> copy, audit and examine all of the books, records and other <br /> documents relating to the grant and the fulfillment of this <br /> Agreement for a period of three (3) years following the completion <br /> of the Project. <br /> d. Conflict with HOME Agreement. Notwithstanding anything <br /> herein to the contrary, the parties hereto acknowledge the due <br /> execution of a HOME Grant Agreement between the County and the <br /> State and agree that any conflict between the provisions, <br /> requirements, duties or obligations of this Agreement and the HOME <br /> Grant Agreement shall be resolved in favor of the HOME Grant <br /> Agreement. <br /> 3 <br />
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