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<br /> <br />2. Other Program Requirements. Owner must carry out each activity in compliance <br />with all Federal laws and regulations described in 24 CFR, Part 35 subparts A, B, J, <br />K, M, and R, as applicable; 24 CFR, Part 92, subpart F for rental projects, including <br />but not limited to the applicable property standards at 92.251; and 24 CFR, Part 92, <br />subpart H except that the subrecipient does not assume the responsibilities for <br />environmental review or intergovernmental review. Applicable property standards <br />shall apply throughout the period of affordability. <br /> <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 /> <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 /> <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 /> <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 /> <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 /> <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 /> <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 />DocuSign Envelope ID: 26C611FC-889B-477B-8950-766E41A4752D