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<br />City of Santa Ana <br />04-CALHOME-087 <br />Page 1 of 5 <br /> <br />EXHIBIT C <br /> <br />HCD GENERAL TERMS AND CONDITIONS <br /> <br />1. Effective Date and Commencement of Work <br /> <br />This )\::;':s~ent is effective U!)(\!) 2;Jpro'/al bv the State which is the date stamped by <br />the Department of Housing and Community Development (HCD) in the lower right hand <br />corner of page one of the Agreement. The Contractor agrees that Work shall not <br />commence, nor any costs to be paid with CalHome funds be incurred or obligated by <br />any party prior to execution of this Agreement by the State, completion of all required <br />environmental clearances, and compliance with the applicable conditions of this <br />Agreement. The Contractor agrees that the Work shall be completed in accordance <br />with the date specified in Exhibit A, Section 4A. This Agreement shall terminate on the <br />date set forth in Exhibit A, Section 4B. <br /> <br />2. Amount and Form of Fundinq <br /> <br />A. For the purposes of performing the Work, the State agrees to provide to the <br />Contractor the amount specified in Exhibit A, Section 3; Amount of Agreement. <br />In no instance shall the State be liable for any costs for the Work in excess of <br />this amount, nor for any unauthorized or ineligible costs. <br /> <br />B. The State shali provide funding in the following forms: <br /> <br />1, As a grant, if the Work consists of a program to provide: loans to first- <br />time homebuyers for down payment assistance; or/loans to owner- <br />occupants for rehabilitation, <br /> <br />2. As a secured development loan that may convert to a grant, if the Work <br />consists of a new construction homeownership project. <br /> <br />3. As a secured permanent-only loan if the Work consists of assistance to a <br />mutual housing or cooperative development. <br /> <br />3. Permitted Uses of Funds <br /> <br />The Contractor shall use funds provided pursuant to this Agreement only for <br />performance of the Work, and consistent with the requirements of the NOFA and the <br />CalHome Regulations. <br /> <br />4. Termination and Breach <br /> <br />A. In the event of the Contractor's failure to satisfy or comply with any term or <br />condition in this Agreement or with respect to the loan documents, if any, <br />specified in Exhibit B; Budget Detail and Payment Provisions, within the time and <br />in the manner specified, after written notice to the Contractor by State specifying: <br />(1) the breach; (2) the action required to cure such breach; and (3) a date, not <br />less than fifteen (15) days from the date of receipt of such notice by the <br />Contractor, by which such breach must be cured, the State may withdraw its <br />