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c. NHDC shall submit Pay Requests, with proper supporting documentation, <br /> to the City on the l Oth day of the month and the 25th day of the month. <br /> 4. NHDC will provide the City with a statement on how they will use the proceeds <br /> from this project and that said proceeds will be used to fund future low-to-moderate <br /> homebuyer projects. <br /> 5. NHDC will develop and adhere to an Affirmative Marketing plan as set forth by <br /> HUD. This will consist of actions to provide information and otherwise attract <br /> eligible persons in the housing market area to the available housing without regard <br /> to race, color, national origin, sex, religion, familial status or disability. <br /> 6. NHDC shall maintain a proper accounting system, HUD approved for the HOME funds. <br /> a. A separate account shall be established specially for the HOME Program funds. <br /> b. Program income shall be identified separately and used prior to additional <br /> reimbursements by the City. <br /> c. Proper accounting shall be verified by an Annual Audit conducted by an <br /> independent, qualified auditor. Results of the Annual audit shall be submitted <br /> to the City within 30 days after completion of the audit. <br /> 7. NHDC shall adhere to all the requirements established by the federal government, <br /> State of Illinois, and the City as mandated in the applicable regulations, laws, codes <br /> and ordinances. <br /> 8. NHDC shall have the discretion to selection appropriate projects as identified in its <br /> proposal dated 5/10/99 (Ea�hibit A) and as determined by its Board of Directors and <br /> set policies associated with the development that are not in conflict with those identified <br /> in(5) above. <br /> a. NHDC shall submit its projects to the City for approval which would include <br /> proposed construction schedule, cost estimate and project location. NHDC I <br /> shall submit documentation to the City for approval of �I <br /> 1) A charge in the project location; and , <br /> 2) Project drawdown, which would include a current real estate ' <br /> tax bill, sales agreement and/or appraisal, and title policy. <br /> 9. The City shall provide technical assistance to NHDC upon request to guide the <br /> organization in the proper administration of the HOME funds. <br /> -2- <br />