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C:7
<br />3. Town of Chapel Hill - -41 %
<br />4. Town of Hillsborough - -5%
<br />HOME funds invested in affordable housing shall be repaid if the housing does not
<br />meet the affordability, requirements of Section 92.252 and Section 92.254 of the
<br />Regulations or if the housing ceases to qualify as affordable housing before the
<br />period of affordability expires. If OHC is required by HUD or the State, in
<br />accordance with Section 92.503 of the Regulations, to repay HOME funds
<br />awarded, the County and Towns agree that the payments will be made in
<br />accordance with the formula specified in Paragraph H of this Section.
<br />J. Any repayment of HOME funds, loans or other program income generated from
<br />funds received through the HOME Program, shall be returned to the HOME
<br />Investment Trust Fund established by the Lead Entity and reallocated by the OHC
<br />Program Council during the next HOME program design process following receipt
<br />of the repayments or other program income, to the extent allowed by the
<br />Regulations and State Program Requirements.
<br />L.
<br />[IT,
<br />The County and Towns agree to comply with all Regulations, State Program
<br />Requirements, and OHC HOME program design features and requirements.
<br />This Agreement shall be executed by the appropriate officers of the County and
<br />Towns pursuant to authority granted them by their governing bodies.
<br />To the maximum extent permitted by law, each Town which is a
<br />Agreement shall indemnify and hold harmless the County and other
<br />party to this
<br />Towns, and
<br />their officers, officials, and employees, from and against any and all costs,
<br />damages, liabilities, claims, losses, judgments or expenses, including reasonable
<br />attorneys fees, arising in any manner from or as a result of any activities by or on
<br />behalf of the Towns under this Agreement other than as provided for in Paragraph
<br />I of this Section, provided, however, that nothing in this paragraph indemnifies and
<br />holds harmless the County and other Towns from and against any costs,
<br />damages, liabilities, claims, losses, judgments or expenses, including reasonable
<br />attorneys fees, arising in any manner from or as a result of negligent acts or
<br />omissions of the County, or the County's officers, officials, and employees.
<br />Likewise, the County shall indemnify and hold harmless the Towns, and the Towns'
<br />officers, officials, and employees, from and against any and all costs, damages,
<br />liabilities, claims, losses, judgments or expenses, including reasonable attorneys
<br />fees, arising in any manner from or as a result of any activities by or on behalf of
<br />the County under this Agreement other than as provided for in paragraph I of this
<br />Section, provided, however, that nothing in this paragraph indemnifies and holds
<br />harmless the Towns from and against any costs, damages, liabilities, claims,
<br />losses, judgments or expenses, including reasonable attorneys fees, arising in any
<br />Today's Date: June 23, 1992 4
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