Agmt97 County of San Mateo (6) - Laserfiche WebLink

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2'1000 98 D022 B. ADMINISTRATIVE EXPENSES The source of the funds for the agreed upon administrative delivery expenses, herein, shall come from the City's Housing Rehabilitation Loan Program Administrative Budget. The City shall pay to the County for administrative delivery costs in an amount not to exceed 15% of the total loans made in each year of this Agreement. City shall pay County for incurred, and agreed upon, administrative delivery expenses, upon receipt from County of a statement detailing the loan or loans funded, and the resultant administrative delivery costs. The City shall pay to the County for the County's administrative delivery expenses in receiving, screening, surveying, securing bids, and preparing the Loan Profiles for loans which arc not approved for l-~nding by the City, in an amount not to exceed 10% of said loans. SECTION 5 TERM OF THE AGREEMENT The term of this Agreement shall be fi.om the date of the execution of this Agreement by both parties to the Agreement and shall include the Federal Fiscal Years 1996-1997, 1997-1998, and 1998-1999, after which time the term can be renewed upon mutual agreement of the parties, through a City Council Resolution, on the part of the City, and a signature of the Director of Human Services Agency, on the part of the County, and as provided for in the Housing and Urban Development (HUD) rules and regulations. The rules and regulations provide for participation in guccessive three- year qualification periods. This Agreement shall remain in effect, regardless, until the Emergency Mobile Home Loan funds, committed during the three year qualification period, are expended and funded activities are completed. Either party to this Agreement may decline to participate further in the activities and program described herein at the end of the Federal Fiscal Year 1998-1999, provided that said party does notify the other party in writing as provided in the HUD's rules and regulations. Should there be minor changes, found to be necessary for better implementing the Emergency Mobile Home Loan Program, these changes may be instituted by the County's, Director of Housing and the Director of the City of Redwood City's Housing and Community Development Department. Any other changes may be incorporated in the renewal Agreement Documents within the time specified by HUD rules and regulations, and in no case later than the end of Federal Fiscal Year 1999. 7