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E. Written Agreements with Homeowners <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 /> 1. The requirements found at 24 CFR § 92.504(c)(5)(ii) applicable to <br /> homeowner rehabilitation assistance; and <br /> 2. The reserved right of the County to inspect the rehabilitation records for <br /> the homes assisted with HOME funds. The rehabilitation loans shall be <br /> made following the protocol established in the Agency's Community <br /> Housing Improvement Program (CHIP) Operating Procedures Manual. <br /> IV. FISCAL MANAGEMENT <br /> A. Eligible Costs <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, <br /> and, if approved by the County, for certain "pre-award costs" pursuant to 24 <br /> CFR § 92.212. In no event, however, shall disbursement be made to the <br /> Agency for costs not included in the Project Budget attached as Exhibit C to <br /> this Agreement. <br /> No expenditure of HOME funds shall be made for "prohibited activities," as <br /> that term is defined in 24 CFR § 92.214. <br /> B. Payment and Disbursements <br /> The Agency may not request disbursement of funds under this Agreement <br /> until the funds are needed for the payment of eligible Project costs. The <br /> amount of each request shall be limited to the amount needed. Program <br /> Income (as that term is defined in Section IV-F-1 of Exhibit A hereof) must be <br /> disbursed before the Agency requests funds from the County. <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: <br /> Exhibit A-1 <br /> HCS-16-42-1601-198(1) <br /> City of Everett <br /> Page 14 of 24 <br />