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<br />City of Santa Ana <br />06-CaIHome-184 <br />Page 1 of 1 <br /> <br />EXHIBIT B <br /> <br />BUDGET DETAIL AND PAYMENT PROVISIONS <br />(Owner-Occupied Rehabilitation) <br /> <br />A. Payments to Contractor for mortgage assistance or owner-occupied rehabilitation shall <br />be on an advance or reimbursement basis. Upon the effective date of this Agreement, <br />and upon submission of the required draw request form(s) and submission of any State- <br />required documentation, Contractor may obtain an advance of funds in an amount not to <br />exceed 25% of the total amount provided under this Agreement. As these funds are used <br />for eligible expenditures, the Contractor shall forward all required documentation to <br />Contract Manager. When two-thirds (2/3) of the initial disbursement of CalHome Program <br />funds on hand has been expended, the Contractor may request the next advance of 25% <br />of the total amount provided under this Agreement. This procedure of advances shall <br />continue until the total amount provided under this Agreement is expended. This system <br />of advances is subject to the requirements of Exhibit A, Section 4A, Completion Dates, of <br />this Agreement. <br /> <br />B. The State reserves the right to request copies of any documentation at any time prior to, <br />or after the processing of any draw request. <br /> <br />C. As a condition of the first draw of funds, Contractor shall submit for State review and <br />approval: <br /> <br />1. (a) program guidelines describing the Contractor's owner-occupied rehabilitation <br />program per CalHome Program Regulations Section 7735(a); (b) written <br />procedures for long-term loan servicing; (c) a copy of Contractor's Reuse <br />Account plan; (d) and an executed 20-year Monitoring Agreement on a form to be <br />provided by the State. <br />