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10.Verification of Coverage <br /> The Agency shall furnish the City with certificates of insurance and <br /> endorsements required by this Agreement. The certificates and <br /> endorsements for each insurance policy are to be signed by a person <br /> authorized by that insurer to bind coverage on its behalf. The certificates and <br /> endorsements for each insurance policy are to be on forms approved by the <br /> City prior to the commencement of activities associated with the Agreement. <br /> The City reserves the right to require complete, certified copies of all required <br /> insurance policies at any time. <br /> 11.Subcontractors <br /> The Agency shall include all subcontractors as insureds under its policies or <br /> shall require separate certificates of insurance and policy endorsements from <br /> each subcontractor. If the Agency is relying on the insurance coverages <br /> provided by subcontractors as evidence of compliance with the insurance <br /> requirements of this Agreement, then such requirements and documentation <br /> shall be subject to all of the requirements stated herein. <br /> J. HOME Maximum Subsidy Limits <br /> The total amount of HOME funds may not exceed 240% of the per-unit dollar <br /> limitations established under Section 234 Condominium Housing Limits, elevator- <br /> type, basic mortgage limits for projects in the Seattle High Cost Percentage <br /> (HCP) area. <br /> Bedrooms HOME Maximum <br /> Per-Unit Subsidy <br /> Limit <br /> 0 BR $140,107 <br /> 1 BR $160,615 <br /> 2 BR $195,304 <br /> 3 BR $252,662 <br /> 4+ BR $277,344 <br /> V. RECORDS AND REPORTS <br /> The Agency agrees to maintain the following records and submit the following <br /> reports in order to assist the City in meeting its recordkeeping and reporting <br /> requirements: <br /> Amended HOME Loan Agreement <br /> Housing Hope's Kennedy Court Improvement Project <br /> Page 40 of 53 <br />