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■ Negotiate with financial institutions for the purchase of NSP eligible properties that the Treasure Coast Homeless Services Council , Inc . is interested in purchasing ; ■ Ensure that all offers submitted for the purchase of properties contain a property option contract addendum that conditions the offer for purchase , at a minimum, on DCA ' s acceptance of the HUD site specific Environmental Review for the specified property and provides that the earnest money deposit is refundable if DCA does not accept Environmental Review ; ■ For each housing unit considered for acquisition with NSP funding , develop a list of property improvements and an estimated cost for each of these improvements that will need to be completed prior to the housing unit being occupied ; • Complete the due diligence on each property, including but not limited to the following : • Obtain a property appraisal report to determine the fair market value of the property, • Obtain a title search of the property to verify the ownership of the property and ensure that there are no outstanding liens on the property , • Obtain a Phase I Environmental Site Assessment for the property to ensure that the property has no history of contamination, • Obtain a lead inspection of the property, if the property was constructed prior to 1978 . • Obtain an asbestos inspection of the property, • Obtain a termite inspection of the property to ensure the property has no infestation, • Obtain a survey of the property to ensure that the property has no encroachments and that the floor elevations of the structures on the property are all above the required flood plain elevations, ■ Review due diligence reports on housing units being considered for acquisition by the Treasure Coast Homeless Services Council , Inc . and reaffirm original recommendation to purchase the units ; ■ Coordinate the closing and transfer of title from the original mortgage holder to the Treasure Coast Homeless Services Council, Inc . , ■ Take title to the NSP housing units that the Treasure Coast Homeless Services Council , Inc . desires to acquire ; ■ Develop a work write up and price for rehabilitation of each property purchased by Treasure Coast Homeless Services Council , Inc . ; • Oversee the construction contract award, construction contract signing and construction associated with the rehabilitation of the NSP housing units ; ■ Maintain the NSP properties acquired by the Treasure Coast Homeless Services Council , Inc . as affordable rental housing for the minimuim amount of time required by DEPARTMENT . The minimum amount of time required by DEPARTMENT shall commence with the date of completion of rehabilitation (if applicable) of the housing unit or from the date of acquisition if no rehabilitation to the housing unit is required . F :ACommunity Development\CDBG\2008 NSP\Contracts\Nonprofits\TC1iSC Contract Amendment - Sept 2012\Attachments to Modification Agreement\Revised Appendix A . docx