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<br />Exhibit A-1 <br />HCS-23-42-2002-198(1) <br />City of Everett <br /> Page 14 of 24 <br />E. Written Agreements with Homeowners <br /> <br /> The Agency shall enter into written agreements with homeowners for the <br />HOME-funded loans. Written agreements with homeowners shall meet the <br />requirements of 24 CFR § 92.504, as applicable, and state the terms and <br />conditions for repayment of the loans. The Agency will include in each <br />homeowner agreement assisted with HOME funds under this Agreement: <br /> <br />1. The requirements found at 24 CFR § 92.504(c)(5)(ii) applicable to <br />homeowner rehabilitation assistance; and <br /> <br />2. The reserved right of the County to inspect the rehabilitation records for the <br />homes assisted with HOME funds. The rehabilitation loans shall be made <br />following the protocol established in the Agency’s Community Housing <br />Improvement Program (CHIP) Operating Procedures Manual. <br /> <br />IV. FISCAL MANAGEMENT <br /> <br />A. Eligible Costs <br /> <br /> Disbursements shall be made to the Agency under this Agreement only for <br />certain “eligible project costs,” as that term is defined in 24 CFR § 92.206, and, <br />if approved by the County, for certain “pre-award costs” pursuant to 24 CFR <br />§ 92.212. In no event, however, shall disbursement be made to the Agency for <br />costs not included in the Project Budget attached as Exhibit C to this <br />Agreement. <br /> <br /> No expenditure of HOME funds shall be made for “prohibited activities,” as that <br />term is defined in 24 CFR § 92.214. <br /> <br />B. Payment and Disbursements <br /> <br /> The Agency may not request disbursement of funds under this Agreement until <br />the funds are needed for the payment of eligible Project costs. The amount of <br />each request shall be limited to the amount needed. If Program Income (as <br />that term is defined in Section IV-F-1 of Exhibit A hereof) and HOME funds are <br />committed to the same loan activity, the Program Income funds must be <br />disbursed before the Agency requests funds from the County. <br /> <br /> Disbursements by the County pursuant to this Agreement shall be on a <br />reimbursement basis, covering Project obligations incurred by the Agency. <br />These funds shall be managed through the County's HOME Investment Trust <br />Fund account (the “HOME Investment Fund”) utilizing the Integrated <br />Disbursement and Information System (“IDIS”) described in 24 CFR § 92.502, <br />in the following manner: