R2023-17 Resolution Accepting Grant from the Illinois Housing Development Authority Home Repair and Accessibility Program

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documentation acceptable to IHDA, as more fully described in the Program Manual. 6. Funds Documents. Prior to the Closing Date, the Sponsor shall deliver to IHDA two (2) original copies of the Funding Agreement executed by the Sponsor and such other documents as IHDA may reasonably require, in its sole discretion. This Letter, the Funding Agreement, and all other documents governing or securing the Funds are collectively referred to in this Letter as,the"Funding Documents". 7. Sponsor's Eligible Fees. a. The Sponsor may retain a maximum of five percent (5%) of the Funds for administrative costs ("Administrative Costs") (as further described in the Program Manual); provided, however, that such administrative costs are eligible costs to be determined by IHDA in its sole discretion. On or within forty-five (45) calendar days of the Closing Date, IHDA will fund fifty percent (50%) of the Administrative Costs to the Sponsor. So long as Sponsor has performed satisfactorily under the Funding Agreement and there is not currently a default under the Funding Agreement, or an event but for the passage of time would constitute a default, IHDA will fund the remaining fifty percent (50%)of the Administrative Costs to the Sponsor on or within forty-five(45)calendar days of the one (1) year anniversary of the effective date of the Funding Agreement. If the Sponsor does not utilize the entirety of the Funds prior to the Termination Date, IHDA may, in its sole and absolute discretion, require a proportional repayment of the Administrative Costs. b. The Sponsor may retain a portion of the Funds to pay for the direct project related costs of each Project ("Project Delivery") (as further described in the Program Manual)in an amount not to exceed a fifteen percent(15%)of the total amount of the hard and soft construction costs (as detailed in the Program Manual) of the respective Loan. The costs for Project Delivery must be eligible costs as determined by IHDA in its sole discretion. 8. Other Showings. Not less than ten (10) business days prior to the Closing Date, the Sponsor shall,at its sole cost and expense,deliver to IHDA,the following documents, in form and substance satisfactory to IHDA: a. Resolution or ordinance of the Sponsor, certified by the clerk or other authorized municipal official acceptable to IHDA within thirty(30)days of the Closing Date, authorizing the Project and the execution of the Funding Agreement and any other documents in connection with the Project; Certificate of Incumbency of the Sponsor indicating those officers and/or officials who are authorized to execute and deliver the Funding Agreement and any other documents in connection with the Project,with specimen signatures of those officers and/or officials, certified by an authorized officer or official of the Sponsor,as of a date within thirty(30)days prior to the Closing Date; b. Participant Selection Plan; 4