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WHEREAS, Contractor provides certain services through programs, <br /> including the program described in Exhibits "B" ("Program & Project <br /> Description"), attached hereto and made a part hereof; and <br /> WHEREAS, Contractor has requssted financial assistance under the <br /> City's CDBG program to acquire property located at 612 Jefferson Avenue in <br /> Redwood City to be used to construct up to iwenty (20) units of affordable <br /> ownership housing for low income households; and <br /> NOW, THEREFORE, the Parties hereby agree as follows: <br /> 1. FINANCIAL ASSISTANCE. City will allocate to Contractor the sum <br /> of One Hundred Fourteen Thousand Eight Hundred Ninety Five and no/100 <br /> dollars ($114,895) for exclusive use by Contractor during the fiscal year <br /> commencing July 1, 2014, and ending June 30, 2015, solely for the purposes <br /> described in Paragraph 2. In consideration for providing the CDBG funds or the <br /> use of the proceeds thereof, Contractor has agreed to record Affordability <br /> Covenants in the form attached hereto as Exhibit A. <br /> 2. USE OF FUNDS. Contractor will use the funds provided pursuant to <br /> Paragraph 1 solely for the Project objectives described in Exhibit B, attached <br /> hereto and by this reference incorporated herein. Contractor shall perform <br /> services as described in Exhibit B in consideration of the payments set forth in <br /> Paragraph 4 and shall cause to be recorded through escrow. <br /> 3. CHANGES TO PROJECT. No changes in the Project described in <br /> this Agreement which is funded by the financial assistance provided under <br /> Paragraph 1 will be made without the prior written consent of City. <br /> 4. PAYMENTS. Contractor shall submit a Disclosure of Estimated Fees <br /> from First American Title Insurance Company or such other escrow company as <br /> REV:02-05-15 VR <br /> Page 2 of 33 <br /> ATTY/AGR.2015.025/Habitat for Humanity GSF Jefferson Site Acquisition <br />