HABITAT FOR HUMANITY OF ORANGE COUNTY (2)

Home Browse Search

2. SCOPE OF WORK/PROJECT BUDGET The Project is generally described in the attached Exhibit A. The "Scope of Work" and "Schedule of Performance" for the Project is attached hereto as Exhibit B. Any material change to the Scope of Work/Schedule of Performance requested by the Developer shall be subject to the prior written approval of the City Project Manager. The Scope of Work/Schedule sets forth the construction work that shall be performed on the Property for the Project and timeframes for approvals of such work. A line -item budget for the Project, including a surmnary of statement of sources and uses of funds, is incorporated into Exhibit C ("Project Budget"). 3. CONDITIONAL INCLUSIONARY GRANT: Provided Developer constructs the Project according to the Scope of Work and Schedule of Performance, the Developer will be subject to no repayment obligation. Upon the City's issuance of a Certificate of Completion, this Agreement shall automatically terminate. In the event the Project is not constructed in compliance with the Scope of Work and Schedule of Performance within two (2) years from the date of the first disbursement of the Grant finds, the City may terminate this Agreement and may seek repayment of Inclusionary Grant monies not expended on development and constriction of the Project pursuant to the default remedy provisions of this Agreement set forth in Section 6.1. 3.1. Inclusionary Funds: (a) Amount and Purpose. Subject to the terms and conditions of this Agreement, City agrees to make a grant to Developer from the Inclusionary Housing Fund in the principal amount of up to two hundred, thirty-one thousand, four hundred and ninety- four dollars ($231,494) for the development and construction of the Project. 4. CONDITIONS TO DISBURSEMENT OF GRANT PROCEEDS 4.1 Conditions Precedent. City's obligation to disburse the grant is subject to the satisfaction of the following conditions precedent: (a) City Council. Review, approval and execution of this Agreement, the Affordability and Maintenance Restrictions, and of the Ground Leases for the two Property parcels by the City Council of the City of Santa Ana. (b) Code Compliance. Compliance with California Health and Safety Code and applicable regulations set forth in Section 34176. (c) Environmental Review. Compliance with and completion of environmental review of the Project pursuant to the California Environmental Quality Act ("CEQA") and approval thereof. 6