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R2005-112 AUTHORIZING THE PARTICIPATION IN THE ILLINOIS HOUSING DEVELOPMENT AUTHORITY
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R2005-112 AUTHORIZING THE PARTICIPATION IN THE ILLINOIS HOUSING DEVELOPMENT AUTHORITY
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12/14/2015 9:16:55 AM
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Resolution/Ordinance
Res Ord Num
R2005-112
Res Ord Title
AUTHORIZING PARTICIPATION IN THE ILLINOIS HOUSING DEVELOPMENT AUTHORITY - AMERICAN DREAM DOWNPAYMENT INITIATIVE (ADDI)
Approved Date
8/29/2005
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each as respectively amended from time to time, and the housing quality standards set <br /> forth in the Grant Agreement and the Regulations. <br /> (c) Certification of Income. The Owner shall, upon the Sponsor's request, <br /> certify as to its household income on the form attached hereto as Exhibit E (the <br /> "Certificate of Income Eligibility"). The Owner shall provide such written evidence <br /> substantiating the information on such Certificate of Income Eligibility as the Sponsar may <br /> require. <br /> (d) Inspection. The Sponsor and the Authority shall have the right to inspect <br /> the Residence during the course of the Project. <br /> (e) Intentionally Omitted. <br /> (fl Insurance Proceeds. If the Owner receives insurance proceeds for any <br /> damage or destruction to the Residence occurring during the course of the Project, the <br /> Owner shall apply such proceeds to the repair of such damage or destruction, if practicable. <br /> If not practicable, the damage or destruction shall be deemed to be a Recapture Event and <br /> Borrower shall repay the Loan in accordance with Section 4(c). <br /> 6. Intentionally Omitted. <br /> 7. NON-DISCRIMINATION. The Owner shall require that all contractors comply <br /> with all of the provisions of Paragraph 282 of the HOME Act, and all provisions of Federal, State <br /> and local laws relating to non-discrimination, as applicable. <br /> 8. CONFLICTS. Owner shall not enter into any contract ar agreement with any <br /> party which is directly or indirectly controlling, controlled by ar under common control with an <br /> employee, agent, consultant, officer or elected or appointed official of the Sponsor, or, in some <br /> circumstances, business associates or members of the family of such individuals (an "Affiliate"), <br /> except upon terms and conditions that are intrinsically fair and substantially similar to those that <br /> would be available on an arms-length basis with third parties other than any Affiliate. <br />, 9. RECORDS. At the request of the Sponsor, the Owner shall furnish such reports, <br /> records and information in connection with the Project required by the Sponsor, and shall give <br /> specific answers to questions from the Sponsor from time to time relative to the Owner's income, <br /> assets, liabilities, or contracts, all relating to the Project, and the maintenance, occupancy, and <br /> physical condition of the Residence. <br /> 10. INDEMNIFICATION. <br /> (a) The Owner hereby agrees to indemnify the Sponsor, the Authority and the <br /> Sponsor's and the Authority's respective officers, agents, employees or servants against, <br /> and hold them harmless from, liabilities, claims, damages, losses and expenses, including, <br /> but not limited to, legal defense costs, attorneys' fees, settlements or judgments, whether by <br /> direct suit or from third parties, arising out of the Owner's performance under this <br /> A eement or the work erformed b a contractor in connection with the Pro'ect in an <br /> �' P Y J � Y <br /> 4 <br />
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