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<br /> <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 deferred loan. <br /> <br />II. AMOUNT OF HOME FUNDS <br /> <br />The County shall make available to the Owner up to One Hundred Twenty-Five Thousand <br />Three Hundred Nineteen Dollars ($125,319) at an interest rate of zero percent (0%) <br />pursuant to this Agreement. The funding provided by the County will be provided as a fixed <br />subsidy in the form of a deferred loan. The investment will be secured by a forty (40) year Deed <br />of Trust and Promissory Note, forgivable at the end of forty (40) years. This Deed of Trust, <br />recorded in the Orange County Registry, and Promissory Note shall constitute a lien on the <br />Property pursuant to this Agreement. <br /> <br />Said funds shall be disbursed by the County to the Owner for performance of the services <br />described in Exhibit B. <br /> <br />III. LIEN POSITION <br /> <br />Orange County hereby acknowledges that the terms and conditions of its (i) HOME Program <br />Development, (ii) Promissory Note, (iii) Deed of Trust and Security Agreement, and (iv) <br />Declaration of Restrictive Covenants (collectively referred to as the “Orange County Loan <br />Documents”), for EmPOWERment, Inc. shall not be subordinate to any other documents. The <br />Declaration of Restrictive Covenants (EXHIBIT D) described in Paragraph VI. of this <br />Agreement shall be recorded prior to the Deed of Trust. <br /> <br /> <br />IV. TIMELINESS <br /> <br />DocuSign Envelope ID: 26C611FC-889B-477B-8950-766E41A4752D