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Agenda - 06-16-20; 8-o - North Carolina Housing Finance Agency (NCHFA) – 2020 Essential Single-Family Rehabilitation Loan Pool (ESFRLP20) Award
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Agenda - 06-16-20; 8-o - North Carolina Housing Finance Agency (NCHFA) – 2020 Essential Single-Family Rehabilitation Loan Pool (ESFRLP20) Award
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6/18/2020 8:57:43 AM
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BOCC
Date
6/16/2020
Meeting Type
Business
Document Type
Agenda
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8-o
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Agenda 06-16-20 Virtual Business Meeting
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\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 06-16-20 Virtual Business Meeting
Minutes 06-16-2020 Virtual Business Meeting
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\Board of County Commissioners\Minutes - Approved\2020's\2020
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30 <br /> 6 Subrecipient's acts or omissions, in the sole determination of the Agency, may cause <br /> significant reputational harm to the Agency or the Program <br /> 7 Any Subrecipient misrepresentation in its application or supporting material which, if <br /> known by the Agency,would have resulted in the Subaward not being made. <br /> B Discovery of Events <br /> The Agency may become aware of Events ofDefault in any number of'ways,including but not <br /> limited to: <br /> 1. Third party compliance reviews; <br /> 2 Random file reviews; <br /> 3. Reports of' noncompliance by third parties such as media, government agencies, <br /> Subrecipient's clients, and/or whistle blowers; or <br /> 4. Reviews of audited financial statements and other Uniform Guidance audits. <br /> C. Notice of Events of Default If the Agency becomes aware of an Event or Events of Default, the <br /> Agency will give Subrecipient written notice of the occurrence and a reasonable opportunity to <br /> respond to notification or take corrective action as appropriate, if, in the discretion of the Agency <br /> the default is capable of being cured The Agency reserves the right to send notification to <br /> Subrecipient's Board of Directors,the State of'North Carolina and HUD <br /> D Failure to Remedy an Event of Default.If Subrecipient is unable to cure the Event of Default to the <br /> satisfaction of the Agency,then the Agency may <br /> 1 Recover misspent or unspent Funds; <br /> 2. De-obligate awarded but undisbursed Funds; <br /> 3 Terminate the Agreement for cause Upon termination of the Agreement,all unspent Funds <br /> (as determined by the Agency) shall revert immediately to the Agency, in cither the farm <br /> of recapture or de-obligation; <br /> 4. Use information learned in the process of consideration of future funding actions; <br /> 5 Recapture Funds; or <br /> 6. Take other legally available remedies <br /> Part XIV. General Terms and Conditions <br /> Section 1: Publicity <br /> The Member may publicize its participation in the Program and the conduct of activities under this <br /> Agreement without prior review by the Agency, provided that all communications contain the following <br /> language: "This program was sponsored by Orange County, with funds provided by the N C Housing <br /> Finance Agency " Copies of publications or news releases shall be furnished to the Agency. <br /> Page 13 of 16 <br />
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