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site approval, and that such commitment of funds or approval may occur only upon satisfactory <br />completion of an environmental review and receipt by Orange County of a Release of Funds <br />from the U.S. Department of Housing and Urban Development under 24 CFR Part § 58 if <br />applicable. The parties further agree that the provision of such funds to the project is conditioned <br />on Orange County’s determination to proceed with, modify, or cancel the project based on the <br />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 HOME FUNDS/SUBSIDY TYPE <br /> <br />A. The CEF shall perform the projects or tasks related to its allocation of HOME <br />funds as provided in this Agreement, Exhibit A, Scope of Services, Exhibit B, <br />Proposed Budget and Source of Funds and the Declaration of Restrictive <br />Covenants the form of which is attached as Exhibit C. All Exhibits, attachments <br />and addendums annexed hereto or referred to herein are hereby incorporated into <br />and made a part of this Agreement as if set forth herein, as it now reads or as it <br />may be modified by the Parties. <br /> <br />B. The CEF may not request disbursement of funds under this Agreement until the <br />funds are needed for payment of eligible costs. The amount of each request must <br />be limited to eligible costs as determined by Orange County staff and may not <br />exceed the amount needed. <br /> <br />C. Said funds shall be disbursed by check payable to the CEF. <br /> <br />D. HOME funds will be as a grant to each subject property as fixed subsidy. <br /> <br />II. AMOUNT OF HOME FUNDS/LOAN TERMS <br /> <br />A. The County shall make available to the CEF up to Ninety Thousand Dollars <br />($90,000.00) pursuant to this Agreement. <br /> <br />B. Said funds shall be disbursed by the County to CEF for performance of the <br />services described in Exhibit A. <br /> <br /> <br />III. TIMELINESS <br /> <br />CEF shall complete the Project by December 31, 2023. However, in the event of any <br />alterations or additions or of circumstances beyond the control of CEF, which in the <br />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, <br />the time of completion shall be extended by the County Manager in writing for a period <br />DocuSign Envelope ID: 5B8E357F-436A-4B92-B6EA-A3046F40AC7EDocuSign Envelope ID: 66442AA5-FA51-4D49-BD8A-B8CAFCBD6F8B