AgdaPkt 2002-12-16 - Laserfiche WebLink

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AGREEMENT WITH MP REDWOOD COURT ASSOCIATES - FOR FUNDING TO REHABILITATE REDWOOD COURT APARTMENTS 622 Chestnut & 635 Spruce Street Redwood City, California THIS AGREEMENT, made end entered-into this day of ,2002, by and between the CITY OF REDWOOD CITY, a charter city and municipal corporation of the State of California ("City'), and MP REDWOOD COURT ASSOCIATES, a California Limited Partnership ("Contractor"). WITNESSETH: - ,ire- -er~,,-- WHEREAS, pursuant to Section 24 of the Code of Federal Regulations, Part 92 for the HOME Investment Partnership Program (HOME), funding assistance may be used to fund eligible activities to be carried out by private non-profit entities or public agencies which are duly organized to undertake affordable ownership housing development; and WHEREAS, the City's Consolidated Plan and Housing Element goals include expanding the supply of affordable ownership housing for Redwood City households; and WHEREAS, MP REDWOOD COURT ASSOCIATES, whose general partner is a non-profit organization, has applied for funding assistance under the HOME Program for funding to rehabilitate Redwood Court Apartments at 622 Chestnut and 635 Spruce Street in the City of Redwood City; WHEREAS, the following exhibits are attached hereto and incorporated by reference herein: Exhibit A: Program Services Exhibit B: Promissory Note Exhibit C: Deed of Trust NOW, THEREFORE, IT IS HEREBY AGREED BY THE PARTIES HERETO AS FOLLOWS: 1. SERVICES TO BE PERFORMED Contractor, under the general direction of the Housing Coordinator or her authorized representative, shall perform services as described in Exhibit A in consideration of the payments hereinafter set forth in Exhibit B. F:Atty/Agr/Agr,083