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<br />City of Santa Ana <br />08-CaIHome-4922 <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 Agreement is effective upon aooroval bv the Deoartment which is the date stamped <br />in the lower right hand comer of page one of this Agreement. The Contractor agrees <br />that Work shall not commence, nor any costs to be paid with CalHa me funds be <br />incurred or obligated by any party prior to execution of this Agreement by the <br />Department, completion of all required environmental clearances, and compliance with <br />the applicable conditions of this Agreement. The Contractor agrees that the Work shall <br />be completed in accordance with the date specified in Exhibit A, Section 4A. This <br />Agreement shall terminate on the date set forth in Exhibit A, Section 4C. <br /> <br />2. Amount and Form of FundinQ <br /> <br />A. For the purposes of performing the Work, the Department agrees to provide to <br />the Contractor the amount specified in Exhibit A, Section 3; Amount of <br />Agreement. In no instance shall the Department be liable for any costs for the <br />Work in excess of this amount, nor for any unauthorized or ineligible costs. <br /> <br />B. The Department shall 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 the Department <br />specifying: (1) the breach; (2) the action required to cure such breach: and (3) a <br />date, not 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 Department may withdraw <br />its conditional commitment or the balance thereof and be released from any <br />further obligation to the Contractor after notifying the Contractor in writing of the <br />