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PART FOUR <br /> <br /> RESPECTIVE RESPONSIBILITIES <br /> <br />A. Agency Responsibilities <br /> <br /> 1. AGENCY agrees to ensure that applicants meet eligi- <br /> bility requirements for Rehabilitation Program <br /> funding based on AGENCY established ownership, <br /> location and income criteria. <br /> <br /> 2. AGENCY agrees to submit to CCF the completed <br /> application packages including complete application <br /> forms, signed verification forms and any required <br /> financial information. <br /> <br /> 3. AGENCY agrees that outside costs for loan processing <br /> including, but not limited to, title and credit <br /> reports, appraisal, fund control costs, loan <br /> servicing and recording fees be paid by AGENCY as <br /> these costs are incurred by CCF, whether or not the <br /> loan is approved. However, CCF shall allow the <br /> payment of such costs for approved loans to be made <br /> from loan proceeds at the time of loan funding. <br /> <br /> 4. AGENCY agrees to aid applicants in obtaining itemized <br /> work estimates, inspect construction progress, and to <br /> forward a properly executed Completion Certificate to <br /> CCF. <br /> <br /> 5. AGENCY agrees to conduct loan closings to obtain all <br /> necessary borrower signatures and notarial acknowl- <br /> edgements. CCF shall not be required to fund loans <br /> when complete and proper loan closings are not <br /> conducted by AGENCY. <br /> <br /> 6. AGENCY agrees to maintain the Reserve Account at 10% <br /> of the combined loan commitment by CCF and AGENCY or <br /> 10% of the outstanding Credit Enhanced Participation <br /> Loan Portfolio, whichever is greater. CCF may <br /> transfer funds from the other AGENCY accounts, <br /> including loan repayments, to assure Reserve Account <br /> funds adequacy for the life of the Participation Loan <br /> Portfolio, according to this Agreement. <br /> <br /> ?. AGENCY agrees to pay subsidized loan application, <br /> cancellation and origination fees as set forth in <br /> Exhibit B. <br /> <br /> <br />