Laserfiche WebLink
F . Rehabilitate acquired properties using Habitat for Humanity' s sweat equity <br /> program ; <br /> G . Solicit potential NSP3 homebuyers; <br /> H . Complete income verification and NSP3 qualification process for NSP3 <br /> homebuyer applicants; <br /> I . Provide principal mortgage financing for NSP3 homebuyers ; and <br /> J . Sell NSP3 homes to income qualified buyers . <br /> 2 . Developer will carry out this program in accordance with the policies, <br /> procedures and other provisions of the Single - Family Purchase , Redevelopment and <br /> Sales Program Manual ( " Program Manual " ) , provided to Developer by Grantee, and <br /> incorporated herein by reference . Developer hereby agrees to accept and follow any <br /> written amendments to the Program Manual by Grantee that are made as a direct result <br /> of additional guidance or regulations provided by HUD, as well as any written <br /> amendments that are mutually agreed upon by Grantee and Developer. <br /> 3 . Developer is responsible for providing the deliverables that are <br /> described in Exhibit A, Homes Sales Activities and Detailed Budget, within the time <br /> periods and for the approximate average budget amounts described therein . The total <br /> use of NSP3 funds provided under this Agreement may not exceed the total amount of <br /> NSP3 funds indicated in Section III ( A ) below . <br /> 4 . Developer' s expenditures for program delivery will be limited as <br /> follows, unless changes to the limits are agreed to in writing by Grantee and Developer <br /> for a particular property : <br /> a . Minimum number of homes to be acquired , developed and sold : <br /> Thirteen (13) . <br /> b . Eligible properties : Developer will acquire only properties in designated <br /> NSP3 target areas that are eligible under NSP3 guidelines for rehabilitation or <br /> redevelopment as affordable residential properties . These guidelines state that <br /> properties acquired must be abandoned or foreclosed upon , blighted , or vacant <br /> residential structures . Residential structures will be rehabilitated consistent with <br /> NSP3 guidelines . <br /> c . Designated target areas : Developer may carry out this activity only in <br /> the following NSP3 target area : South of Oslo Road ( 9th Street SW ), east of 27th <br /> Avenue , north of 25th Street SW , and west of Lateral J Canal , as shown in the map <br /> in Exhibit Be <br /> d . Minimum number of homes to be acquired and rehabilitated for <br /> households with incomes at or below 50% of area median income to meet <br /> Grantee' s 25 % set- aside requirement : three ( 3 ) . <br /> e . Developer may execute a home purchase contract without obtaining <br /> written approval from Grantee ; , however, Developer shall obtain written approval <br /> 2Page <br />