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<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 Exhibit <br />C. All Exhibits are attached hereto and are hereby made a part of this Agreement, as it <br />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 grant. <br /> <br />II. AMOUNT OF HOME FUND/GRANT TERMS <br /> <br />A. The County shall make available to the Owner up to One Hundred and Five Thousand <br />Dollars ($105,000) pursuant to this Agreement. Said funds shall be disbursed by the <br />County to the Owner for performance of the services described in Exhibit B. <br /> <br />III. LIEN POSITION <br /> <br /> Not Applicable <br /> <br />IV. TIMELINESS <br /> <br />Owner shall complete the Project within six (6) months from the date of this Agreement. However, <br />in the event of any alterations or additions or circumstances beyond the control of the Owner, <br />which in the opinion of the Director of the County’s Department of Housing and Community <br />Development will require additional time for completion of the Project, then in that case, the time <br />of completion shall be extended by the County Manager in writing for a period of time no t to <br />exceed six (6) months. Any further extensions will require the approval of the Orange County <br />Board of County Commissioners. <br /> <br />V. DURATION OF THE AGREEMENT <br /> <br />This Agreement will remain in effect for the Period of Affordability as provided in Section VI, <br />Affordability Requirements. <br /> <br />VI. AFFORDABILITY REQUIREMENTS <br /> <br />A. Period of Affordability <br /> <br />DocuSign Envelope ID: 48DDB7F3-249B-44E9-A965-4AB2E5C0F864