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• 5 <br /> Exhibit "D" <br /> Soecific Termc and -onditianc <br /> 1 . This grant shall be considered a loan with principal and interest due fifteen years from <br /> the dace of closing. All payment will be deferred as long as the property is used for <br /> transitional housing as per this contract. Should this property use change, or the terms <br /> of this contract not be upheld the City of Everett may at its option, require immediate <br /> payment in full of all sums lent plus interest. At the end of ten years the loan will be <br /> forgiven 100% principal and interest. <br /> 2. Interest rate shall be 3% simple interest. <br /> 3. The City of Everett's Community Housing Improvement Program (CHIP) will review and <br /> approve all rehabilitation and new construction plans for the site. <br /> 4. Housing Hope will appreise the City of Everett's Department of Planning and Community <br /> Development of progress on a monthly basis through written progress reports during the <br /> course of the renovation and construction. <br /> 5. All applicable permits: land use and building permits will be acquired by Housing Hope <br /> trom the City of Everett. <br /> 6. Any tenants that constitute a direct threat to the health and safety of other individuals or <br /> may cause substantial physical damage will not be housed in the shelter. <br /> 7. The project shall include indoor and outdoor recreation areas. The outdoor recreational <br /> area shall be secured and screened as approved by the City of Everett's Department of <br /> Planning and Community Development. <br /> 8. Signing for the housing will be limited to an address sign. No other on-premise signs will <br /> be permitted. A small plaque may be placed on the building to recognize efforts by those <br /> who have contributed to the development of Housing Hope Village. <br /> 9. The office shall provide adequate indoor waiting and socialization space. <br /> 10. Rules and regulations of the housing development shall be incorporated into and become <br /> a part of this contract. The rules and regulations will be approved by the city of <br /> Everett's Long Range Planning and Community Develapment Manager or designee. All <br /> participants shall abide by such rules. The Housing Hope staff will be responsible for <br /> enforcement of such rules. Rule changes must be approved by the Housing Hope Board <br /> of Directors and copies of minute of ineeting where such chznges take place must be <br /> sent to the City of Everett's Department of Planning and Community Development. � <br /> 18 1 <br />