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Rev August 8, 2018 <br />Release of Funds from the U.S. Department of Housing and Urban Development under 24 CFR <br />Part § 58 if applicable. The parties further agree that the provision of such funds to the project is <br />conditioned on Orange County’s determination to proceed with, modify, or cancel the project <br />based on the results of a subsequent environmental review. <br /> <br /> NOW, THEREFORE, in consideration of the mutual covenants, promises, and <br />representations contained herein, it is agreed between the parties hereto as follows: <br /> <br />I. USE OF HOME FUNDS/SUBSIDY TYPE <br /> <br />A. HOME funds shall be used to provide assistance to low-income homeowners for: the <br />repair and rehabilitation of their principle residence, specifically critical repairs, <br />accessibility modifications, and home performance upgrades. HOME funds shall pay for <br />eligible hard and soft costs associated with housing rehabilitation of single-family owner- <br />occupied dwelling units; making the units safe, decent and sanitary. <br /> <br />B. Rebuilding Together shall perform the projects or tasks related to its allocation of HOME <br />funds as provided in this Agreement, Exhibit A, Scope of Services and Exhibit B, <br />Proposed Budget and Source of Funds. All Exhibits, attachments and addendums <br />annexed hereto or referred to herein are hereby incorporated into and made a part of this <br />Agreement as if set forth herein, as it now reads or as it may be modified by the Parties. <br /> <br />C. HOME funds shall be in the form of a grant to Rebuilding Together and a deferred loan <br />to the homeowner of each dwelling unit that receives assistance as part of the Project. <br />Rebuilding Together shall secure the County’s interest in the Project with the County- <br />provided loan documents substantially in the form of those documents listed in Exhibit C <br />C, Orange County Loan Documents, which include a Loan Agreement (Attachment 1), <br />Promissory Note (Attachment 2), and a Deed of Trust (Attachment 3). Failure to do so <br />constitutes a material breach of this Agreement. <br /> <br />D. Rebuilding Together may not request disbursement of funds under this Agreement until <br />the funds are needed for payment of eligible costs. The amount of each request must be <br />limited to eligible costs as determined by Orange County staff and may not exceed the <br />amount needed. Rebuilding Together must identify the eligible dwelling units and <br />provide that information along with the budget for the unit to the County with the request <br />for funding. Program income must be disbursed before Rebuilding Together requests <br />funds from the County. <br /> <br />E. Said funds shall be disbursed by check payable to Rebuilding Together. <br /> <br />II. AMOUNT OF HOME FUNDS/LOAN TERMS <br /> <br />A. The County shall make available to Rebuilding Together up to of Seventy-Eight Thousand <br />Five Hundred and Thirty-Eight Dollars ($78,538) pursuant to this Agreement. <br /> <br /> <br />DocuSign Envelope ID: 62EC95C2-2AA8-49D7-B576-F94193C9DB65