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• <br /> the Project Budget. Written budget revision approval must be received by the <br /> Agency before incurring any expenditures or obligations against the revised Project <br /> Budget. <br /> a. In the event that a proposed revision would result in an <br /> increase or decrease of ten percent (10%) or more in an approved budget object <br /> category with no change to the total HOME and ADDI Agreement amount, then the <br /> proposed change will be approved or disapproved by the Manager of Long Range <br /> Planning and Community Development. <br /> b. In the event that a proposed change to the Project Budget <br /> is less than ten per cent (10%) of the total HOME and ADDI Agreement amount, then <br /> the proposed change will be approved or disapproved by the Manager of Long Range <br /> Planning and Community Development. <br /> c. Proposed changes which exceed ten per cent (10%) of <br /> the total HOME and ADDI Agreement Project Budget amount shall necessitate a <br /> written amendment to this Agreement. <br /> 3. The City may, in its sole discretion, provide by written <br /> amendment to this Agreement additional funds beyond the authorized Project Budget <br /> amount whenever the Agency adequately demonstrates to the satisfaction of the <br /> Manager of Long Range Planning and Community Development its inability to absorb <br /> costs in excess of the authorized HOME and ADDI Agreement amount. <br /> D. Repayment of HOME and ADDI Funds and/or Assignment of <br /> Mortages <br /> The Agency shall transfer to the City (i) all undisbursed HOME and ADDI funds, not <br /> otherwise committed for pending loans, (ii) its rights in any accounts receivable <br /> attributable to the use of such funds; and (iii) mortgage loans made with funds from <br /> the HOME and ADDI funds pursuant to this Agreement upon the occurrence of the <br /> any of the following; (To the extent there are pending loans to be made at the time of <br /> such occurrence, the Agency shall either make the pending loans and subsequently <br /> transfer the loans to the City, or notify the City that it will transfer to the City the full <br /> balance of such funds and the City shall close the pending loans). <br /> 1 . The Project terminates before completion, voluntarily or <br /> involuntarily; or <br /> 2. The Agency's homebuyer program ceases to exist or the <br /> Agency itself ceases to exist; or <br /> 3. The HOME and ADDI Agreement between the City and <br /> HomeSight is terminated. <br /> HOME and ADDI Agreement between <br /> City of Everett and HomeSight <br /> 14 3 S <br />