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<br />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 representations <br />contained herein, it is agreed between the parties hereto as follows: <br /> <br />I. USE OF HOME FUNDS/SUBSIDY TYPE <br /> <br />A. The Owner shall perform the projects or tasks related to its allocation of HOME funds as <br />provided in Exhibit B, Scope of Services and within the Project Budget outlined in <br />Exhibit C. Exhibits B and C, are attached and are hereby made a part of this Agreement, <br />as it now reads or as it may be modified by the parties. <br /> <br />B. The Owner may not request disbursement of funds under this Agreement until the funds <br />are needed for payment of eligible costs. The amount of each request must be limited to <br />eligible costs as determined by Orange County staff. <br /> <br />C. Said funds shall be disbursed by check payable to the Owner. <br /> <br />D. HOME funds will be a fixed subsidy provided in the form of a grant. <br /> <br />II. CONVEYANCE <br /> <br />A. Amount of HOME funds. The County shall make available to the Owner up to Forty Six <br />Thousand Five Hundred Dollars ($46,500) pursuant to this Agreement. Said funds <br />shall be disbursed by the County to the Owner for performance of the services described <br />in Exhibit B. <br /> <br />B. Conveyance of Building. The County shall convey the single family residence that is on <br />the Subject Property, valued at Ninety-three Thousand Six Hundred dollars ($93,600), to <br />Owner pursuant to this Agreement. <br /> <br />III. LIEN POSITION <br /> <br /> Not Applicable <br /> <br />IV. TIMELINESS <br /> <br />Owner shall complete the Project within twelve (12) months from the date of this Agreement. <br />However, in the event of any alterations or additions or circumstances beyond the control of the <br />Owner, which in the opinion of the Director of the County’s Department of Housing and <br />Community Development will require additional time for completion of the Project, then in that <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 />DocuSign Envelope ID: 1DB0D1D0-6B1C-4086-81CB-264D8410FEAB