25B - AGMT - 815 N HARBOR LOAN - Laserfiche WebLink

Home Browse Search

8,2 !Commencement and C:ou1 1p efioaY of Construction. The construction shalt be considered :complehe for purposes of this Agreement only when (a) all work described has been completed and fully paid for, and (b) all work requiring inspection or certification by Governmental Authority has been completed and all requisite certificates, approvals and other necessary authorizations (including required final certificates of occupancy) have been obtained, 93 Change Orders. The Construction Contract shall not be modified except pursuamt to change orders. All change orders: (a) shall be in writing, numbered in sequence, signed: by Developer and submitted to City prior to the proposed effectiveness thereof and accompanied by any working drawings and a written narrative of the proposed change. (b) Shall be subj ect to the Executive Director's and Bank's prior written approval of the Executive Director and Bank: &A Entry and Inspection. At all times prior to completion of the construction, upon reasonable notice, City and their agents shall have (a) the right of free access to the Property and all sites away from the Property where materials for the cons ruction are steered, (b) the right to inspect all labor performed and materials furnished for the construction, and (c) the right to _inspect and copy all documems pertaining to the construction. 8.5 Con7RIbince with Section d Clause, Section 3 of the Housing and Urban Development act of 1963, 12 U,S.0 1701u, as amended by Section 915 of the Housiug surd Community Development Act of 1992 requires that economic opportunities generated by HUD financial assistance for housing and coma -amity development programs be targeted toward 7dwv- and very low- income persons, Whenever Hill assistance generates opportunities for employment or contracting, state and lueail grantees, as well as other recipients of hilt) housing assistance funds must, to the greatest extent feasible, provide these opportunities to low -and very low income persons and to businesses owned by or +employing low- and very low- income persons. Section 3 applies to projects for which HUD's shave of project costs exceeds $200,000 anal, contracts and subcontractor aww udetl on projects for which HUD's share or proleet costs exceeds $200,000 and the contractor subcontract exceeds S 100,000, For purposes of this Section 3 Clause and compliance thereto, whenever the word "contractor' is used it shall mean and include, as applicable, the Developer, and its vontractor and subcontractor(s), if any. The particular text to be utilized in any mid all contracts of any contractor doing work covered by Section 3 shall be in substantially the form of the following, as reasonably determined by the City, or as directed by HUD oi- its reprewntatiwe, and shall be executed by the applicable contractor under penalty of perjury: 19 25B -25