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<br />such funds to the project is conditioned on the County’s determination to proceed with, modify, or <br />cancel the project based on the results of a subsequent environmental review. <br /> <br />NOW, THEREFORE, in consideration of the mutual covenants, promises, and <br />representations contained herein, it is agreed between the parties hereto as follows: <br /> <br />I. USE OF BOND FUNDS <br /> <br />A. Habitat shall perform the projects or tasks related to its allocation of Affordable <br />Housing Bond funds as provided in Exhibit B, Scope of Services, and within the <br />proposed budget outlined in Exhibit C. <br /> <br />B. Habitat may not request disbursement of Project funds under this Agreement until the <br />funds are needed for payment of eligible costs. The amount of each request must be <br />limited to eligible costs as determined by County staff. <br /> <br />C. Said Project funds shall be disbursed by the County to Habitat for performance of the <br />services described in Exhibit B by check made payable to Habitat. <br /> <br />D. Bond funds will be a fixed subsidy provided in the form of a grant. <br /> <br /> <br />II. AMOUNT OF BOND FUNDS/LOAN TERMS <br /> <br />A. The County shall make available to Owner up to One Hundred Thirty-Four <br />Thousand One Hundred and Sixty Dollars ($134,160.00) pursuant to this <br />Agreement. <br /> <br />B. Said funds to be disbursed by the County to Habitat for the performance of the services <br />described in Exhibit B. <br /> <br /> <br />III. LIEN POSITION <br /> <br />N/A <br /> <br />IV. TIMELINESS <br /> <br />Owner shall complete the Project by June 30, 2023. However, in the event of any alterations <br />or addition or circumstances beyond the control of the Owner, which in the opinion of the <br />Director of the County’s Department of Housing and Community Development Department <br />will require additional time for completion of the Project, then in that case, the time of <br />completion shall be extended by the County Manager in writing for a period of time not to <br />exceed six (6) months. Any further extension will require the approval of the Orange County <br />Board of County Commissioners. <br /> <br />DocuSign Envelope ID: 32CE5800-8AE6-4AEC-B93D-DCC116731946