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Any extensions to the project schedule must be explained to the City in writing. With the <br /> exception of delays caused by the City, any project which becomes more than six months <br /> behind the established schedule, without NHDC having provided an acceptable written <br /> explanation to the City, is considered delinquent. The City will then issue a letter <br /> requesting an immed�ate explanation and/or requesting a meeting to review the project <br /> with NHDC. If NHDC fails to either respond to the letter or to remedy the situation as <br /> agreed to in the review meeting within 30 days, the City may suspend all further payouts <br /> of HOME funding requests for that project. <br /> D. Project Closeout/Final Payment <br /> The City reserves the right to withhold up to the final ten percent(10%) of total <br /> reimbursement on each unit or the project as a whole until all closeout documentation is 'I <br /> received. Closeout documentation shall consist of: completed Property Resale I <br /> Information Sheet, lien/deed restrictions, final payout requests, final property inspection <br /> sheets, and certificate of occupancy. <br /> E. Affordability Requirements <br /> Any project undertaken under the terms of this agreement must comply with the periods <br /> of affordability as stated in the federal regulations for use of HOME funds, 24 CFR <br /> 92.254(a). Specifically, HOME-assisted housing units must be acquired by a homebuyer <br /> whose family qualifies as a low- income and the housing must be the principal residence <br /> of the family throughout the affordability period. The unit must remain affordable to <br /> low-income persons for not less than the applicable period for the amount of assistance <br /> rovided, which will be determined rior to the si in of a urchase a eement with the <br /> P P � g P � <br /> homebuyer and stated in the written HOME agreement for that unit. If the housing <br /> unit does not remain affordable for the entire affordability period in accordance with the <br /> provisions of the HOME agreement for that unit,NHDC is required to repay the entire <br /> HOME investment in that unit. <br /> F. Property Standards <br /> N�IDC shall ensure that all housing it constructs or rehabilitates with HOME funds meets <br /> all applicable local codes, rehabilitation standazds,HLJD Housing Quality Standards <br /> (HQS), ordinances, and zoning ordinances at the time of project completion. NHDC shall <br /> comply with the standards set forth by the City of Decatur for either new construction or <br /> existing housing, depending on the type of project it is undertaking. Payout requests for <br /> work requiring mechanical, electrical, or plumbing inspections shall not be processed <br /> without documentation that the applicable permits have been received and required <br /> inspections conducted. <br /> G. Termination of Project Funding <br /> The City reserves the right to suspend or terminate payment of reimbursement requests <br /> for a project in whole or in part for cause. Cause shall include the following: <br /> (1) Improper use of funds; <br /> (2)Failure to comply with the terms and conditions of this Agreement, including <br /> those specified in this Section; <br /> (3)Failure to comply with HUD program guidelines. <br /> (4)Failure to comply with the affordability requirements stated in item E. above. <br /> 4 <br />