ANR INDUSTRIES, INC. -2010 - Laserfiche WebLink

Home Browse Search

~ - ~~ ~~ fO~ ~, . .>> a: (je INSUAANCE ON FILE WOAK MAY PROCEED UNTIL INSURANCE EXPIRES ~-lt1-/'D CLERK OF COUN911 t 0 !'1m:: if-/'-'f - ~l(' A-201O-049 FIRST AMENDMENT TO NEIGHBORHOOD STABILIZATION PROGRAM GRANT SERVICES AGREEMENT WITH ANR SANTA ANA NSP. LLC This Amendment is executed by and between the City of Santa Ana, a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California (hereinafter "City") and ANR Santa Ana NSP, LLC, a limited liability company ("Developer") as of March ~, 20 I O. RECIT ALS: A. City and Developer entered into the Neighborhood Stabilization Program Grant Services Agreement (said "Agreement") on April 6, 2009 for Developer to assist City with the acquisition and rehabilitation of single family, condominium and historic components of the Neighborhood Stabilization Program (NSP). B. The parties now desire to amend said Agreement to include terms related to additional funding generated by program income. WHEREFORE, in consideration of the covenants contained in said Agreement, and subject to all the terms and conditions of said Agreement, except those amended in this First Amendment to Agreement, the parties agree as follows: 1. Each party hereto agrees that Sections 500 and 700 of said Agreement, shall be amended to include the following additional terms: 507. Verification of Homebuyer Income. Prior to the sale of any NSP Assisted Unit to a Homebuyer, the Developer shall submit to the City a completed income computation and certification form from each Homebuyer of the NSP Assisted Unit in the form which is provided by the City. Each Homebuyer shall certify, to the best of the Homebuyer's knowledge, that it is a Low or Moderate Income Household and meets the eligibility requirements established for the NSP Assisted Unit. The Developer shall obtain an income verification and lender's packet from the prospective purchaser of an NSP Assisted Unit (which shall be provided to the City). For purposes of this Program, income will be calculated per HUD guidelines for federal programs (Exhibit E: HUD Part 5 Income & Assets Definitions). For purposes of such certification, the Developer shall verify the income certification of the prospective Homebuyer in one or more of the following methods reasonably acceptable to the City: (a) obtain three (3) paycheck stubs from the prospective Homebuyer's three (3) most recent pay periods. (b) obtain a true copy of an income tax return from the prospective Homebuyer for the most recent three tax years in which a return was filed. (c) obtain an income verification certification from the employer of the prospective Homebuyer. Final Amend NSPl ANR