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Rev August 8, 2018 <br />case, the time of completion shall be extended by the County Manager in writing for a period of <br />time not to exceed six (6) months. Any further extensions will require the approval of the <br />Orange County Board of County Commissioners. <br /> <br />V. DURATION OF THE AGREEMENT <br /> <br />This Agreement will remain in effect for the Period of Affordability. Upon termination or <br />expiration of this Agreement, Rebuilding Together shall transfer to the County any HOME funds <br />on hand at the time of expiration and accounts receivable attributable to the use of HOME funds. <br /> <br />VI. AFFORDABILITY REQUIREMENTS <br /> <br />Housing assisted with HOME funds under this Agreement must meet the affordability <br />requirements of 24 CFR 92.254. Each of the Project dwelling units must remain affordable <br />during the Period of Affordability as specified in the HOME Program regulations and the Orange <br />County Loan Documents. Rebuilding Together shall retain full responsibility for informing <br />homeowners of the affordability requirements for receipt of HOME funds, which shall be <br />imposed by the Orange County Loan Documents. The Loan Documents shall constitute and <br />remain a lien on each improved property during the entire applicable Period of Affordability. <br /> <br />VII. REBUILDING TOGETHER PERFORMANCE UNDER THIS AGREEMENT <br /> <br />A. Rebuilding Together agrees that the estimated property value of the improve property, <br />after rehabilitation, may not exceed ninety-five percent (95%) of the area median <br />purchase price for the area. Rebuilding Together agrees to assess the value prior to <br />performing any work and to provide such assessment to the County. <br /> <br />B. Rebuilding Together agrees to invest a minimum of $1,000 in HOME funds per each <br />assisted dwelling unit as part of the Project. <br /> <br />C. Rebuilding Together agrees that the assisted dwelling units shall meet all State and local <br />housing quality standards and code requirements once rehabilitation or reconstruction is <br />complete. If no such standards or codes apply, the improved property must at a minimum <br />meet the HUD Section 8 Housing Quality Standards. <br /> <br />D. Rebuilding Together agrees not to charge servicing, origination, or other fees for the <br />costs of administering the HOME program, except as permitted by 24 CFR § <br />92.214(b)(1). <br /> <br />E. Rebuilding Together agrees and authorizes the County to conduct on-site reviews, <br />examine client and contractor records, client applications and to conduct any other <br />procedures or practices to assure compliance with these provisions. <br /> <br />F. Rebuilding Together agrees to not violate any State or Federal laws, rules or regulations <br />regarding a direct or indirect illegal interest on the part of any employee or elected <br />DocuSign Envelope ID: 62EC95C2-2AA8-49D7-B576-F94193C9DB65