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DocuSign Envelope ID: F396A7D5-62F3-4B5B-A968-F49AA5397EFF <br /> environmental review or intergovernmental review. Applicable property standards <br /> shall apply throughout the period of affordability. <br /> 3. Affirmative Marketing. If HOME funds will be used for housing containing five (5) <br /> or more assisted units, The Owner must prepare and submit an Affirmative Marketing <br /> Plan to the County. <br /> 4. Termination of Agreement. The full benefit of the Project will be realized only after <br /> the completion of the affordability periods for the Project dwelling unit. It is the <br /> County's intention that the full public benefit of the Project shall be completed under <br /> the auspices of the Owner for the assisted unit as follows: <br /> a. In the event that the Owner is unable to proceed with any aspect of the Project in <br /> a timely manner, and County and the Owner determine that reasonable <br /> extension(s) for completion will not remedy the situation, then The Owner will <br /> retain responsibility for requirements for the dwelling unit assisted and County <br /> will make no further payments to the Owner. <br /> b. In the event that the Owner, prior to the contract completion date, is unable to <br /> continue to function due to, but, not limited to, dissolution or insolvency of the <br /> organization, its filing a petition for bankruptcy or similar proceedings, or is <br /> adjudged bankrupt or fails to comply or perform with provisions of this <br /> agreement, then the Owner shall, upon the County's request, convey to the <br /> County the Property assisted with HOME funds. Conveyance shall be at the sole <br /> discretion of County and on a Project dwelling unit by Project dwelling unit basis. <br /> Conveyance shall be on the terms set forth herein: <br /> i. Conveyance shall occur within thirty (30) days of County and the Owner's <br /> agreement of the Owner's inability to continue as a viable organization. <br /> ii. The Owner shall convey the Property to the County by general warranty deed, <br /> free and clear of all liens and encumbrances of record except those which <br /> create a beneficial interest in County (Declaration of Restrictive Covenants <br /> and Deed of Trust). <br /> 5. Default, Remedies. This Agreement may be terminated by a non-defaulting party <br /> upon an event of default hereunder, after written notice thereof and thirty (30) days <br /> grace period in which the defaulting party may act to cure. As used herein, the term <br /> "an event of default" shall mean and refer to a failure or act of omission by either <br /> party with respect to any undertaking, obligation, covenant or condition as set forth in <br /> this Agreement. With respect to any event of default, the non-defaulting party may <br /> exercise any right available to it at law or in equity with respect to such default. <br /> Notwithstanding and in addition to the above, in accordance with 24 CFR 85.43, this <br /> Agreement may be suspended or terminated by the County if Owner materially fails <br /> to comply with any term of the Agreement. Remedies for breach of the provisions of <br />