ANR HOMES INC. -2009 - Laserfiche WebLink

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costs, insurance related to acquisition and rehabilitation, property taxes and maintenance costs (utility and landscaping)subject to proper documentation evidencing such costs ("Developer Fee"). The Developer Fee shall be paid by the City to the Developer at the close of escrow to the qualified homebuyer. 601.1 Reduction in Pricing/Developer Fee. Developer shall reduce the pricing of the homes by 5-10% if a home has not received an acceptable offer within sixty (60) days of its listing or completion of rehabilitation, whichever is later. Any reduction in net settlement proceeds resulting from this reduction will be deducted from the Developer Fee paid to the Developer at close of escrow referenced above. 602. Performance Measures. Due to the legislative deadlines, performance measurements will be monitored closely. The Developer's contract may be cancelled and the funds reallocated to other developers for failure to meet such deadlines. Below are the expected target dates: a. 30% of the funds awarded must be expended within 6 months of the contract date b. 75% of the funds awarded must be expended within 1 year of the contract date c. 100% of the funds awarded must be expended within 18 months of the contract date. 603. Business License/Professional Licenses. Developer must obtain and maintain a valid business license in order to perform services in the City of Santa Ana. Also, Developer shall, throughout the term of this Agreement, maintain all necessary licenses, permits, approvals, waivers, and exemptions necessary for the provision of the services hereunder and required by the laws and regulations of the United States, the State of California, the City of Santa Ana and all other governmental agencies. Developer shall notify the City immediately and in writing of its inability to obtain or maintain such permits, licenses, approvals, waivers, and exemptions. Said inability shall be cause for termination of this Agreement. 700. GOVERNMENTAL REQUIREMENTS 701. Economic Opportunities for Low Income People. (24 CFR 570.487, Section 3 of the Housing and Urban Development Act of 1968, 12 USC 1701 u, as amended by Section 915 of the Housing and Community Development Act of 1992). Developer certifies that it implements a policy in accordance with Section 3 of the Housing and Urban Development Act of 1968 that requires employment and other economic opportunities arising in connection with housing rehabilitation, housing construction and other public construction projects shall, to the extent feasible and consistent with existing federal, state and local laws and regulations, be given to low and very low-income persons. Noncompliance with HUD's regulations in 24 CFR part 135 may result in sanctions, termination of this contract for default, and debarment or suspension from future HUD assisted contracts. To the extent applicable, the Developer shall comply and/or cause compliance with Section 3 Clause requirements for the NSP. For example, when and if Developer or its contractor(s)/subcontractor(s) hire(s) full time employees, Section 3 is applicable and all disclosure and reporting requirements apply. 14