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71000 98 D022 <br /> <br />SECTION 1 PURPOSE OF TffE AGREEMENT <br /> <br />The purpose of this agreement is to set forth the respective duties and responsibilities of the County <br />and the City with respect to providing financial and technical services consistent with the operations <br />of an Emergency Mobile Home Loan Program within the jurisdiction of the City. <br /> <br />SECTION 2 PROGRAM DEFINITIONS AND SERVICES TO BE PERFORMED <br /> <br />A. The City Emergency Mobile Home Loan Program will be £or those eligible residents o£an <br />owner occuPied mobile home which is located in a registered park within the jurisdiction o£the City <br />and whose household income meets the ~ncome guidelines established by the Department of <br />Housing and Urban Development [HUD] for low and very low income households. <br /> <br />B Loans w~ll be up to a maximum of $5.000 per'mobile home <br /> <br />C. Loan funds will come fi.om existing City Community Development Block Grant [CDBG] funds. <br />The maximum amount o£ funds available for this program shall be determined by the City and <br />approved by its Rehabilitation Loan Committee. <br /> <br />D. Loans will be either fully amortized or hardship deferred. <br /> <br />2. Financial and Loan Services <br /> <br />A. County will do a survey of the applicants Mobile home, do the qualification screening, and <br />secure a bid for the work. A Loan Profile will be completed by County and forwarded to the City <br />for presentation to its Housing Rehabilitation Loan Committee for approval of the Loan. <br /> <br />B. Upon approval by the City, County will prepare and execute the Loan and Contract Documents. <br />Originals of the Loan Documents and copies of the Contract Documents will be forwarded to City <br />for setting up the respective Collection and Construction Escrow accounts. <br /> <br />C. County will do the auditing of compliance with the Work Specifications; prepare and approve <br />the Payment Authorizations for paying Property Owner selected Contractor and in securing lien <br />releases fi.om Contractor for work and materials supplied to the project. <br /> <br />D. Completed Payment Authorizations will be forwarded to the City for processing and payment <br />to the Contractor and/or other authorized payees. City agrees to pay the Contractor and/or other <br />authorized payees within 72 hours of receipt of approved Payment Authorizations fi'om County. <br /> <br /> 3 <br /> <br /> <br />