2018-120-E Housing - Empowerment acquisition of rental properties

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DocuSign Envelope ID: 764A29F1 -E414- 4251- 9AE2- 7ABF3F9D9344 certifying that all tenants earn less than 50% or 60% (depending on the dwelling unit) of the area median income by family size, as determined by the U.S. Department of Housing and Urban Development and as amended from time. D. Each Project dwelling must have a value that does not exceed 100% of its appraised value. An independent, qualified appraiser must conduct the appraisal. E. Owner must submit an annual rental operations budget to the County each year at least sixty days prior to the July 1 beginning date for the fiscal year. F. Owner agrees and authorizes the County to conduct on -site reviews, examine client and contractor records, client applications and to conduct any other procedures or practices to assure compliance with these provisions. G. Owner agrees to not violate any State or Federal laws, rules or regulations regarding a direct or indirect illegal interest on the part of any employee or elected official of the Owner in the Project or payments made pursuant to this Agreement. H. Owner shall adopt the audit requirements of the Office of Management and Budget (hereinafter "OMB ") Circular A -110, "Grants and Agreements with Institutions of Higher Education, Hospitals, and Other Nonprofit Organizations," and Circular A -122, "Cost Principles for Nonprofit Organizations," and OMB Circular A -133, "Audits of Institutions of Higher Education and Other Non - Profit Institutions." Owner shall submit to the County copy of said audit report. Owner shall permit the authorized representatives of the County, and any state or federal agency required to inspect and audit all data and reports of the County and Owner relating to its performance under the Agreement. I. County shall provide, upon request, copies of all laws, regulations and orders cited in this Agreement. J. Owner certifies by executing this Agreement that Owner has not been identified, and has not utilized the services of any agent or subcontractor identified, on the list created by the State Treasurer pursuant to G.S. 147 - 86.58. By executing this Agreement Provider certifies that Provider has not been identified, and has not utilized the services of any agent or subcontractor identified, on the list created by the State Treasurer pursuant to G.S. 147 - 86.81. By executing this Agreement Provider affirms Provider is and shall remain in compliance with Article 2 of Chapter 64 of the North Carolina General Statutes. K. Owner hereby assures and certifies that it will comply with the regulations, policies, guidelines and requirements with respect to the acceptance and use of Bond funds in accordance with the policies of the County. Also, Owner certifies with respect to the Project that the Project will be conducted and administered in compliance with: 0