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� I III II II II i 1 II I I I it I I I I I ii i <br />DocuSign Envelope ID: 5C622784- 3DD9- 4F2B- 8D53- D3D3E1 D35BD4 <br />RB6513 95 5158 <br />Value must be established by one of the following methods: <br />i. An appraisal by a qualified appraiser. <br />ii. Tax assessments may be used to establish value, but only if they are <br />current and can be computed at 100% of market value. <br />4. USE OF HOME FUNDS /SUBSIDY TYPE <br />A. CHT shall perform the projects or tasks related to its allocation of HOME funds as <br />provided in this Agreement, Exhibit A, Scope of Services, Exhibit B, Proposed Budget <br />and Source of Funds, the Declaration of Restrictive Covenants the form of which is <br />attached as Exhibit C, and the Ground Lease, the form of which is attached as Exhibit D. <br />All Exhibits, attachments and addendums annexed hereto or referred to herein are <br />hereby incorporated into and made a part of this Agreement as if set forth herein, as it <br />now reads or as it may be modified by the Parties. <br />B. CHT may not request disbursement of funds under this Agreement until the funds are <br />needed for payment of eligible costs. The amount of each request must be limited to the <br />amount needed for eligible costs as determined by Orange County staff and may not <br />exceed the amount needed. Program income must be disbursed before CHT requests <br />funds from the County. <br />C. Said funds shall be disbursed by check payable to CHT. <br />D. HOME funds provided will be as a grant to each subject property as a fixed subsidy. <br />5. AMOUNT OF HOME FUNDS <br />A. The County shall make available to CHT up to Sixteen Thousand Six Hundred and <br />Seventy Dollars and Ninety Cents ($16,670.90) pursuant to this Agreement. <br />B. Said funds shall be disbursed by the County to CHT for the performance of the services <br />described in Exhibit A. <br />6. TIMELINESS <br />CHT shall complete the Project by August 24, 2018. CHT will be responsible for <br />providing status reports to the County quarterly detailing the project activities until <br />project completion. In addition, CHT agrees to furnish to the County a copy of its annual <br />audit performed by a certified public accountant within 90 days of the end of each fiscal <br />year until the Project is complete. <br />The Project completion date is the closing date of the Ground Lease by a qualified buyer <br />of the last of the Project dwelling units. In the event that CHT is unable to proceed with <br />any aspect of the project in a timely manner, and County and CHT determine that <br />reasonable extension(s) for completion will not remedy the situation, then the <br />3 <br />