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13.The loan proceeds may be used only for actual costs for labor, materials and <br /> professional fees, which shall be spent or obligated by Owner to bring the <br /> structure into compliance with the codes as established by the Department of <br /> Housing and Urban Development, the International Property Maintenance <br /> Code, and applicable City building and housing codes. <br /> 14. Receipt by City of an updated title insurance policy naming the City of Decatur <br /> as additional insured. <br /> 15. Owners may request an extension of the six (6) month expenditure limitation. <br /> City shall be under no obligation to grant an extension absent proof by Owner <br /> of the existence of extenuating circumstances beyond Owner's control, such as <br /> weather, or material delivery delays, that Owner reasonably could not have <br /> anticipated. City shall be under no obligation to consider any request unless <br /> the same shall be in writing, setting forth in adequate detail the basis for the <br /> request. City shall promptly consider Owner's extension request, and shall <br /> inform the Owner of City's decision to grant or deny Owner's request within <br /> three (3) weeks of receipt of the request. <br /> 16.Owners shall neither assign nor transfer any interest in this Agreement <br /> without prior written consent of the City. Notice of any such assignment or <br /> transfer shall be furnished promptly to City. <br /> 17.City's liability hereunder for all such renovation work shall be limited to 10% <br /> for the professional fees, shall not be less than five thousand dollars ($5,000) <br /> and shall not exceed sixty-five thousand ($65,000) per building. <br /> 18. City shall make interim and final payments to Owners or their designees only <br /> upon receipt of invoices accompanied by lien waivers, and after inspection and <br /> approval by City that the work is within the scope of this Agreement, and <br /> Owners' proposal. Owners shall provide City fully executed, binding lien <br /> waivers for work performed through date of invoice, in accordance with <br /> applicable provisions of the Illinois Mechanics Lien Act prior to interim and <br /> final payments, as required under 24 CFR 92.504 (c)(3)(viii). <br /> 19. City does not guarantee, and shall under no circumstances be responsible for <br /> work performed by Owner or Owner's contractors or subcontractors. Owners <br /> shall cooperate with all reasonable directives from City to accomplish the <br /> purpose of the rehabilitation project. <br /> 20.To the greatest extent permitted by law, Owners shall indemnify and hold <br /> harmless, the City and its agents, including attorneys fees and other fees and <br /> expenses of dispute and/or litigation, from against all claims, damages, losses <br /> and expenses, including attorney's fees arising out of or resulting from the <br /> rehabilitation work performed on the property. This includes negligent acts or <br /> omissions of the Owners, any contractors, agents, subcontractors, and anyone <br /> directly or indirectly employed by any of them. Owners shall indemnify and <br /> hold City harmless for losses attributable to death, bodily injury, and injury to <br /> or destruction of property including the loss of use resulting from or in its <br /> performance of this rehabilitation project. Owners release City from any and <br /> all liability arising out of or touching upon the giving or failure to give <br /> directions or instructions or any action or lack of action by the City or its <br /> agents. <br /> 3 <br />