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Agenda - 04-04-2017 - 8-h - North Carolina Housing Finance Agency (NCHFA) – 2017 Essential Single-Family Rehabilitation Loan Pool (ESFRLP17) Award
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Agenda - 04-04-2017 - 8-h - North Carolina Housing Finance Agency (NCHFA) – 2017 Essential Single-Family Rehabilitation Loan Pool (ESFRLP17) Award
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3/31/2017 8:07:23 AM
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BOCC
Date
4/4/2017
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8h
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18 <br /> 6. Subrecipient's acts or omissions, in the sole determination of the Agency, may cause <br /> significant reputational harm to the Agency or the Program. <br /> 7. Any Subrecipient misrepresentation in its application or supporting material which, if <br /> known by the Agency, would have resulted in the Subaward not being made. <br /> B. Discovery of Events <br /> The Agency may become aware of Events of Default in any number of ways,including but not <br /> limited to: <br /> 1. Third party compliance reviews; <br /> 2. Random file reviews; <br /> 3. Reports of noncompliance by third parties such as media, government agencies, <br /> Subrecipient's clients, and/or whistle blowers; or <br /> 4. Reviews of audited financial statements and other Uniform Guidance audits. <br /> C. Notice of Events of Default. If the Agency becomes aware of an Event or Events of Default, the <br /> Agency will give Subrecipient written notice of the occurrence and a reasonable opportunity to <br /> respond to notification or take corrective action as appropriate, if, in the discretion of the Agency <br /> the default is capable of being cured. The Agency reserves the right to send notification to <br /> Subrecipient's Board of Directors,the State of North Carolina and HUD. <br /> D. Failure to Remedy an Event of Default.If Subrecipient is unable to cure the Event of Default to the <br /> satisfaction of the Agency, then the Agency may <br /> 1. Recover misspent or unspent Funds; <br /> 2. De-obligate awarded but undisbursed Funds; <br /> 3. Terminate the Agreement for cause.Upon termination of the Agreement,all unspent Funds <br /> (as determined by the Agency) shall revert immediately to the Agency, in either the form <br /> of recapture or de-obligation; <br /> 4. Use information learned in the process of consideration of future funding actions; <br /> 5. Recapture Funds; or <br /> 6. Take other legally available remedies. <br /> Part XIV. General Terms and Conditions <br /> Section 1: Publicity <br /> The Member may publicize its participation in the Program and the conduct of activities under this <br /> Agreement without prior review by the Agency, provided that all communications contain the following <br /> language: "This program was sponsored by Orange County, with funds provided by the N.C. Housing <br /> Finance Agency." Copies of publications or news releases shall be furnished to the Agency. <br /> Page 13 of 16 <br />
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