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C2010-531 - 3/23/2010 - NA
SECOND AMENDMENT TO THE FY05 AND FYOfi CHDO AGREEMENTS BETWEEN THE CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION AND THE NUECES COUNTY COMMUNITY ACTION AGENCY This second amendment ("Second Amendment") is made by and between the Corpus Christi Community Improvement Corporation ("CCCIC") and the Nueces County Community Action Agency, hereinafter referred to as a Community Housing Development Organization ("CHDO" or, interchangeably, as the "SUBRECIPIENT"}. WHEREAS, the CCCIC and the CHDO executed an agreement ("FY05 Agreement"}, which was approved by the CCCIC on September 13, 2005, for the purpose of utilizing the CCCIC's FY05 HOME Pragram funds; WHEREAS, the CCCIC and the CHDO executed an agreement ("FYOfi Agreement"}, which was approved by the CCCIC on September 16, 2007, for the purpose of utilizing the CCCIC's FY06 HOME Program funds; WHEREAS, the scope and purpose to be accomplished and funded under the FY05 Agreement and the FY06 Agreement have changed (both agreements collectively referred to in this Second Amendment as the "Agreements" since the substantive provisions in each are identical, with the exception of minor items, applicable dates and funding amounts}; WHEREAS, the CCCIC approved a new change in scope and purpose for the Agreements at their meeting held on March 23, 2010; WHEREAS, staff and NCCAA worked to finalize details regarding the change in scope and purpose for the production of this Second Amendment; WHEREAS, the parties desire to have this Second Amendment serve as a joint document to simultaneously reinstate and amend both the FY05 Agreement and the FY06 Agreement; and WHEREAS, the parties to the Agreements desire to execute this Second Amendment to reinstate, extend, and modify provisions in the existing Agreements to accomplish the new scope and purpose. Section 1. By execution of this Second Amendment, the parties agree to reinstate and extend the term of each of the Agreements, with a new termination date of December 31, 2011. Section 2. Sections 2 of each of the Agreements are deleted in their entirety and are replaced .xri~h the fr~ll~r4tinn lnnn~ .age in each: 2010-531 03/23/10 CCCIC ibined 2nd Amdmt Revd 20110111 Page X of 31 INDEX "SECTION 2. AGREEMENT PERIOD This agreement ("Agreement" or "HOME AGREEMENT") terminates on December 31, 2011, unless as otherwise specifically provided for by the terms of this Agreement. Section 3. Sections 4 through 27 of each of the Agreements are deleted in their entirety and are replaced with the following sections, headings, and language: "SECTION 4. DEFINITIONS 4.1 For purposes of this HOME AGREEMENT, in addition to the definitions and references set forth throughout this HOME AGREEMENT, including the preamble portion which is incorporated by reference into this HOME AGREEMENT, the following terms shall have the meanings indicated: (A) "Business Day" -Every day of the week, except all Saturdays, Sundays, and those scheduled holidays officially adopted and approved by the CITY`s City Council far its employees. (B) "Environmental Law" -Any federal, state or local law, statute, ordinance or regulation pertaining to health, industrial hygiene, or the environmental conditions on, under, or about the Property including, without limitation, (i) the Resource Conservation and Recovery Act, as amended by the Hazardous and Solid Waste Amendments of 1984, as now ar hereafter amended ("RCRA") (42 U.S.C. §fi901, et. seq.); (ii) the Comprehensive Environmental Response, Compensation, and Liability Act of 1980, as amended by the Superfund Amendments and Reauthorization Act of 1986, as now or hereafter amended ("CERCLA") (42 U.S.C. §9601, et. seq.); (iii) the Clean Water Act, as now or hereafter amended ("CWA") (33 U.S.C. §1251, et. seq.}; (iv) the Toxic Substances Control Act, as now or hereafter amended ("TSCA") (15 U.S.C. §2601, et. seq.}; (v} the Clean Air Act, as now or hereafter amended {"CAA") (42 U.S.C. X7401, et. seq.), Texas Solid Waste Disposal Act (V.T.C.A. Health and Safety Code §361.001, et. seq.) and the Texas Water Code (V.T.C.A. Water Code §26.009-26.407); (vi) all regulations promulgated under any of the foregoing; (vii) any local, state, or federal law, statute, regulation, or ordinance analogous to any of the foregoing; and (viii) any other federal, state, or local law (including any common law), statute, regulation. or ordinance regulating, prohibiting, or otherwise restricting the placement, discharge, release, threatened release, generation, treatment, ar disposal upon or into any environmental media of any substance, pollutant, or waste which is now or hereafter classified or considered to be hazardous or toxic to human health or the environment. (C} "Environmental Report" - A report prepared by a reputable engineer or other party on behalf of the SUBRECIPIENT, which report is satisfactory to the CCCIC, in its reasonable determination and discretion, and in such detail as the CCCIC may require, indicating that no part of the Property is NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 201101 l l Page 2 of 31 , contaminated with Hazardous Materials or is subject to undue risk of contamination by Hazardous Materials. (D) "Governmental Authority" - Any and all courts, boards, agencies, commissions, offices, or authorities of any nature whatsoever for any governmental unit {federal, state, county, district, municipal, or otherwise), whether now or hereafter in existence, having jurisdiction over the applicable matter. (E) "GRANT Documents" - {i) this HOME AGREEMENT and its exhibits and attachments and (ii) that certain "Declaration of Restrictive Covenant," of even date herewith, signed by SUBRECIPIENT in connection with the PROJECT and separately recorded in the real property records of Nueces County, Texas, an unexecuted copy of which is attached to this HOME AGREEMENT and incorporated herein as Exhibit "B." (F) "Hazardous Materials" - Any flammables, explosives, radioactive materials, asbestos, petroleum products, or other hazardous waste, including, without limitation, substances defined as "hazardous substances," "hazardous materials," or "toxic substances" in any Environmental Law; excluding, however, standard prepackaged household items and supplies and materials necessary for the construction and operation of the Property. {G) "Legal Requirements" - (i} any and all present and future judicial decisions, statutes, rulings, rules, regulations, permits, certificates, or ordinances of any Governmental Authority in any way applicable to SUBRECIPIENT, any guarantor of the PROJECT, the GRANT, or the Property including, without limitation, the ownership, use, construction, rehabilitation, development, occupancy, possession, operation, maintenance, alteration, repair, or reconstruction thereof, {ii) any and all covenants, conditions, and restrictions contained in any deed or other form of conveyance or in any other instrument of any nature that relate in any way or are applicable to the Property ar the ownership, use, construction, occupancy, possession, operation, maintenance, alteration, repair, or reconstruction thereof, (iii} SUBRECIPIENT's or any PROJECT or GRANT guarantor's presently or subsequently effective bylaws and articles of incorporation or partnership, limited partnership, joint venture, trust or other form of business association agreement, (iv) any and ail leases related to the Property or the PROJECT, {v) other contracts, whether written or oral, of any nature that relate in any way to the Property or the PROJECT and to which SUBRECIPIENT or any GRANT or PROJECT guarantor may be bound. (H) "Material" - (i} as to monetary matters, any amount in excess of $~ 0,000.00, or (ii} as to all other matters, any fact or circumstance without which the CCCIC, in its reasonable opinion, would not have made the GRANT. NCCAA CHDO Agmt FY05 FY06 Combined 2nd Arndmt Revd 20110111 Page 3 of 31 a {I) "Plans" -Any and all contracts and agreements, written or oral, between the SUBRECIPIENT-approved architect for the PROJECT and SUBRECIPIENT,. together with the final plans, specifications, shop drawings,- and other technical .descriptions prepared for the construction done in connection with the PROJECT, and all amendments and modifications thereof. {J) 'PROJECT" -construction of a new seven-unit (7-unit) multi-family apartment building at 3220 Houston Street, Corpus Christi, Nueces County, Texas. SECTION 5. TERM 5.1 Except as otherwise provided pursuant to the provisions hereof, this HOME AGREEMENT shall be effective upon execution by the last signatory and shall terminate on December 31, 2011. 5.2 Notwithstanding the provisions of paragraph 5.1 hereof, the final completion date for all construction work for the PROJECT shall be no later than November 30, 2011. A proposed PROJECT budget and construction schedule ("Budget and Construction Schedule") is attached to this HOME AGREEMENT as Exhibit "A" and is incorporated into this HOME AGREEMENT as if set out fully herein. A final PROJECT Budget and Construction Schedule is required to be submitted by SUBRECIPIENT pursuant to. Section 1 D. SECTION 6. RESPONSIBILITIES 6.1 SUBRECIPIENT hereby accepts responsibility for the performance, in a satisfactory and efficient manner as determined by the CCCIC, in its reasonable determination and discretion, of all services and activities set forth in this HOME AGREEMENT. 6.2 Unless written notification by SUBRECIPIENT to the contrary is received and approved by the CCCIC, SUBRECIPIENT's Executive Director shall be SUBRECIPIENT's designated representative responsible for the management of all contractual matters pertaining to this HOME AGREEMENT. 6.3 Staff representatives designated by the corporation's General Manager ("General Manager"), on behalf of the CCCIC, are responsible for the administration of this HOME AGREEMENT. For the purposes of this HOME AGREEMENT, the designated representative is the Director of the Neighborhood Services Department and the Program Manager of the Community Development Division. 6.4 Communications between the CCCIC and SUBRECIPIENT shall be directed to the designated representatives of each as set forth in paragraphs numbered f.2 and 6.3 hereinabove. I+FCCAA CHDp Agmt FY05 FY06 Combined 2nd Arndrnt Revd 20110111 Page 4 of 31 SECTION 7. COMPLIANCE WITH FEDERAL STATE AND LOCAL LAWS 7.1 SUBRECIPIENT understands that funds provided to it pursuant to this HOME AGREEMENT are funds that have been made available to the CCCIC, through the CITY, by the federal government under the HOME Program and in accordance with the CITY's HUD-approved funding application and with other specific assurances made and executed by CITY. SUBRECIPIENT, therefore, assures and certifies that it will comply, in all material respects, with the requirements of the HOME Program and with all regulations promulgated thereunder, codified at Title 24 of the Code of Federal Regulations.. SUBRECIPIENT understands, however, that the HOME Program in no way is meant to constitute a complete compilation of all duties imposed upon SUBRECIPIENT by law or administrative ruling, or to narrow the standards which SUBRECIPIENT must follow. Accordingly, SUBRECIPIENT understands that, if the regulations and issuances promulgated pursuant to the HOME Program are amended or revised by HUD or the CCCIC, it shall comply with them or otherwise promptly notify the CCCIC pursuant to the provisions of Section 47 of this HOME AGREEMENT. 7.2 SUBRECIPIENT understands that summaries of certain compliance requirements mandated by applicable laws or regulations are available from the CCCIC and that SUBRECIPIENT must at all times remain in compliance therewith; SUBRECIPIENT further understands that said summaries are intended only as such and in no way are meant to constitute a complete compilation of all duties imposed upon SUBRECIPIENT by law or administrative ruling or to narrow the standards which SUBRECIPIENT must follow. A summary of certain federal laws, rules, and regulations and other Legal Requirements is attached to this HOME AGREEMENT as Exhibit "C" and is incorporated into this HOME AGREEMENT as if set out fully herein. 7.3 SUBRECIPIENT assures that all contractors and subcontractors receiving funds in connection with this PROJECT are familiar with, and shall comply with, any and all applicable federal and State laws, rules, regulations, and provisions mandating compliance, and SUBRECIPIENT will ensure that analogous provisions requiring compliance with all applicable federal and State laws, rules, and regulations will be included as part of every contract awarded in connection with this PROJECT. 7.4 SUBRECIPIENT shall observe and comply with all Legal Requirements. SECTION 8. SUBRECIPIENT'S WARRANTIES AND REPRESENTATIONS 8.1 SUBRECIPIENT hereby unconditionally warrants, represents, assures and guarantees unto the CCCIC the following: (A) SUBRECIPIENT possesses the legal authority, pursuant to any proper, appropriate, and official motion, resolution, or action passed or taken, to enter into this HOME AGREEMENT and the other GRANT Documents and to perform the responsibilities herein required, and each such document constitutes a legal and binding obligation of, and is valid and enforceable against, SUBRECIPIENT and the Property {as the case may be) in accordance with the terms thereof. NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdrnt Revd 20110111 Page 5 of 31 {B) SUBRECIPIENT represents, warrants, assures, and guarantees that the individual executing this HOME AGREEMENT has full legal authority to execute this HOME AGREEMENT on behalf of SUBRECIPIENT and tv bind SUBRECIPIENT to all terms, performances, and provisions herein contained. (C) Any and ail infiormation, reports, papers, and other data, including, without limitation, any and all balance sheets, statements of income or loss, reconciliation of surplus and financial data of any other kind, heretofore furnished or to be furnished the CCCIC by or on behalf of SUBRECIPIENT are, or when delivered will be, true and correct in all material respects; all financial data has been, or when delivered will have been, prepared in accordance with generally accepted accounting principles consistently applied, and fully and accurately present, or will present, the financial condition of the subjects thereof as of the dates thereof; and, with respect to the financial data heretofore furnished, no materially adverse change has occurred in the financial condition reflected therein, since the dates thereof. {D} Except as may be otherwise set forth in any exhibit attached hereto, there are no actions, suits, or proceedings of a material nature pending or, to SUBRECIPlENT's knowledge, threatened against or affecting SUBRECIPIENT, any GRANT or PROJECT guarantor of the Property, or the Property itself, or involving the validity or enforceability of any Deed of Trust or the priority of the liens and security interests created therein related to the Property; and no event has occurred (including, specifically, SUBRECIPIENT's and all GRANT and PROJECT guarantors' execution of their respective security documents related to the GRANT and SUBRECIPIENT's consummation of the GRANT} which will violate, be in conflict with, result in the breach of, or constitute (with due notice, if applicable, or lapse of time, or both) a default under any Legal Requirement or result in the creation or imposition of any lien, charge, or encumbrance of any nature whatsoever an the Property other than the liens and security interests created by or expressly permitted under the GRANT Documents. (E) SUBRECIPIENT has, or prior to commencement of any construction referred to herein will have, (i) received all requisite building permits and approvals in connection with the PROJECT, {ii) filed and recorded all requisite plats and other instruments, and (iii) complied or ensured the compliance with all Legal Requirements required to be met prior to commencement of any construction work done in connection with the PROJECT. (F) All streets, easements, utilities, and related services necessary for any construction done in connection with the PROJECT and the operation thereof for their intended purpose are {or, within thirty days prior to completion of construction work done in connection with the PROJECT, will be) available to the boundaries of the Property, including, without NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 201101/1 Page 6 of 31 limitation, potable water, storm and sanitary sewer, gas, electric, and telephone facilities and garbage removal. {G) The Property has not been the site of any activity that would violate any past or present Legal Requirements, including, without limitation, any Environmental Law. Specifically, without limitation, (i} no solid waste, as that term is defined in the Texas Solid Waste Disposal Act, and no petroleum or petroleum products have been handled on the Property such that they may have leaked or spilled on to the Property or contaminated the Property, {ii) there is no on-sifie contamination resulting from activities on the Properly or adjacent tracts, (iii) there is no off-site contamination resulting from activities on the Property, (iv) the Property contain no Hazardous Materials and {v) there are no underground storage tanks located in, on, or under the Property, and that the CCCIC has obtained specific written assurance from the SUBRECIPIENT to such effect. {H) SUBRECIPIENT has delivered to the CCCIC duly executed documentation creating and lawfully establishing SUBRECIPIENT including evidence of any required filing with the Secretary of State. 8.2 In the event that a dispute arises as to the legal authority to enter into this HOME AGREEMENT of either the SUBRECIPIENT or the person signing on behalf of SUBRECIPIENT and same is not dismissed or resolved within ninety (90} days, the CCCIC shall have the right, at its option, to either #emporarily suspend or permanently terminate this HOME AGREEMENT. Should the CCCIC suspend or permanently terminate this HOME AGREEMENT pursuant to this paragraph, however, SUBRECIPIENT shall be liable to the CCCIC for any money it has received from the CCCIC for performance of any of the provisions hereof. SECTION 9. MAINTENANCE OF EFFORT 9.1 SUBRECIPIENT agrees that the funds and resources provided to it under the terms of this HOME AGREEMENT shall in no way be substituted for funds and resources provided from other sources nor shall such funds and resources in any way serve to reduce the funds, resources, services, or other benefits which would have been available to, or provided through, SUBRECIPIENT had this HOME AGREEMENT not been executed. SECTION 10. PERFORMANCE BY SUBRECIPIENT 10.1 SUBRECIPIENT, in accordance and compliance with the terms, provisions, and requirements of this HOME AGREEMENT, shall manage, perform, and provide all of the activities and services required under this HOME AGREEMENT in connection with the PROJECT to the CCCIC's satisfaction, in its reasonable determination and discretion. The funds available for utilization hereunder shall be expended only in accordance with the terms of this HOME AGREEMENT for the construction costs of the PROJECT. SUBRECIPIENT shall submit a final PROJECT Budget and Construction Schedule within ten (10) days of the execution of this HOME AGREEMENT. NCCAA CIiDO Agtnt FY05 FY06 Combined 2nd Amdmt Revd 20110111 Page 7 of 31 SECTION 11. DRAW REQUESTS 11.1 Provided no Event of Default (as defined in the GRANT Documents) has occurred or remains uncured, the CCCIC will deliver up to $2fi6,000 of FY05 HOME funds and $200,OOD of FY06 HOME funds to SUBRECIPIENT as follows: on a reimbursement basis for construction expenses, to be used by the SUBRECIPIENT to construct affordable housing units for the PROJECT. SECTION 12. INTENTIONALLY LEFT BLANK SECTION 13. INTENTIONALLY LEFT BLANK SECTION 14. FURTHER REPRESENTATIONS WARRANTIES AND COVENANTS 14.1 SUBRECIPIENT further represents and warrants that: (A) All information, data or reports heretofore or hereafter provided to the CCCIC is, shall be and shall remain complete and accurate in all material respects as of the date shown on the information, data or report, and that since said date shown, shall not have undergone any significant adverse change without prior, written notice to the CCCIC; {B) Any supporting financial statements heretofore or hereafter provided to the CCCIC are, shall be and shall remain complete, and accurate in all material respects and fairly reflective of the financial condition of SUBRECIPIENT on the date shown on said statements and during the period covered thereby, and that since said date shown, except as provided by written notice to the CCCIC, there has been no material change, adverse or otherwise, in the financial condition of SUBRECIPIENT; {C) No litigation or proceedings are presently pending or threatened, to SUBRECIPIENT's knowledge, against SUBRECIPIENT or the Property; {D) None of the provisions contained herein contravene or in any way conflict with the authority under which SUBRECIPIENT is doing business or with the provisions of any existing indenture or agreement of SUBRECIPIENT; {E) SUBRECIPIENT has the legal authority to enter into this HOME AGREEMENT and accept payments hereunder and has taken all necessary measures to authorize such execution of this contract and acceptance of payments pursuant to the terms and conditions hereof; and {F) None of the assets of SUBRECIPIENT are currently and for the duration of this HOME AGREEMENT subject to any lien or encumbrance of any character, except for the other liens (as such term may be defined in a deed of trust) securing the financing obligations of SUBRECIPIENT, and current taxes for the Property are not presently delinquent. NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 201 I0111 Page 8 of 31 14.2 Except as otherwise provided in the "permitted exceptions" portion of the Deed of Trust executed by SUBRECIPIENT related to the- acquisition of the Property for this PROJECT, SUBRECIPIENT covenants that, during the period of time that payment may be made hereunder and so long as any payments remain unliquidated, it shall not without the prior written consent of the CCC1C's General Manager or his designee, such consent not to be unreasonably delayed, withheld or conditioned: (A) Further mortgage, pledge, or otherwise encumber or cause to be encumbered any of the assets of SUBRECIPIENT now owned or hereafter acquired by it that are allocated to this PROJECT; (B) Permit any pre-existing mortgages, liens, or other encumbrances to remain on or attached to any of the assets of SUBRECIPIENT which are allocated to fihe performance of this HOME AGREEMENT and with respect to which the CCCIC may have an ownership interest hereunder; (C) Sell, assign, pledge, transfer or otherwise dispose of accounts receivable, notes or claims for money due or to become due; (D) Se[I, convey, or lease all or any substantial part of its assets other than for residential use; or (E) Make any advance or grant to, or incur any liability as guarantor, surety or accommodation endorser for, any other firm, person, entity, or corporation. 14.3 Each of the foregoing representations, warranties and covenants shall be continuing and deemed repeated each time SUBRECIPIENT submits a new request for payment in accordance with the terms, provisions and requirements of this HOME AGREEMENT. SECTION 15. MAINTENANCE OF RECORDS 15.1 SUBRECIPIENT agrees to maintain records that will provide accurate, current, separate, and complete disclosure of the status of any funds received pursuant to this HOME AGREEMENT. SUBRECIPIENT further agrees that: (A) Maintenance of said records shall be in compliance with all terms, provisions, and requirements of this HOME AGREEMENT and with all applicable federal and State laws, rules, and regulations establishing standards for financial management; and (B) SUBRECIPIENT's records system shall contain sufficient documentation to provide in detail full support and justification for each expenditure. 15.2 SUBRECIPIENT agrees to retain, for the period of time and under the conditions specified by the CCCIC, all books, records, documents, reports, and written accounting policies and procedures pertaining to the operation of programs and expenditures of funds under this HOME AGREEMENT. NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 20110111 Page 9 of 31 15.3 SUBRECIPIENT agrees to include the substance of this Section in all of its sub- contracts. 15.4 Nothing in this Section shall be construed to relieve SUBRECIPIENT of: (A) Responsibility for retaining accurate and current records which clearly reflect the level and benefit of services provided under this HOME AGREEMENT; and (B) Fiscal accountability and liability pursuant to this HOME AGREEMENT and any Legal Requirements. SECTION 16. ACCESSIBILITY OF RECORDS 16.1 At any reasonable time and as often as the CCCIC may deem necessary, SUBRECIPIENT shall make all of its records available to the CCCIC, HUD, or any of their authorized representatives, and shall permit the CCCIC, HUD, or any of their authorized representatives to audit, examine, and make excerpts andlor copies of same. SUBRECIPIENT's records shall include, but shall not be limited to, the following: payroll, personnel and employment records, contracts, and invoices. SECTION 17. PERFORMANCE RECORDS AND REPORTS 17.1 As often and in such form as the CCCIC may require, SUBRECIPIENT shall furnish the CCCIC such performance records and reports as deemed by the CCCIC as pertinent to matters covered by this HOME AGREEMENT. 17.2 At a minimum, monthly performance records and reports shall be submitted to the CCCIC by SUBRECIPIENT no later than the tenth (10th) calendar day of the month following the execution of this HOME AGREEMENT and continuing monthly thereafter in like manner. Records and reports shall be in accordance with the formats set forth by the CCCIC as required by federal regulation. 17.3 As of the commencement date of this HOME AGREEMENT, SUBRECIPIENT agrees to gather, retain, and make available to the CCCIC information and data relative to all programmatic and financial reporting. SECTION 18. MONITORING AND EVALUATION 18.1 The CCCIC shall perform secondary on-site monitoring of SUBRECIPIENT's performance pursuant to the terms of this HOME AGREEMENT; provided however, that SUBRECIPIENT retains the primary duty and responsibility to ensure that all Legal Requirements are met with regard to the PROJECT. 18.2 With reasonable notice to SUBRECIPIENT, and in accordance with any leases affecting the Property, SUBRECIPIENT agrees that the CCCIC and HUD may, at the CCCIC's or HUD's sole discretion, carry out monitoring and evaluation activities so as to ensure compliance by SUBRECIPIENT with this HOME AGREEMENT, with the federal Community Development Act, with the HOME Program regulations, with the program NCCAA CHDO Agent FY05 FY06 Combined 2nd Amdmt Revd 20130111 Page 10 of 31 assurances and certifications executed by the CCCIC, and with all other Legal Requirements. 18.3 SUBRECIPIENT agrees to cooperate with the CCCIC in the development, implementation, and maintenance of recordkeeping systems and to provide the CCCIC with any data determined by the CCCIC, in its reasonable determination and discretion, to be necessary for its effective fulfillment of its monitoring and evaluation responsibilities. 18.4 SUBRECIPIENT agrees that it will cooperate with the CCCIC and HUD in such a way so as not to obstruct or delay the CCCIC or HUD in its monitoring of SUBRECIPIENT's performance and that SUBRECIPIENT will designate one of its staff members to coordinate the monitoring process as requested by the CCCIC andlor HUD staff. 18.5 After each official monitoring visit, the CCCIC shall endeavor to provide SUBRECIPIENT with a written report of monitoring findings. 18.6 Copies of any fiscal, management, or audit reports by any of SUBRECIPIENT's funding or regulatory bodies shall be submitted by SUBRECIPIENT to the CCCIC's General Manager or his designate within five (5} business days of receipt thereof by SUBRECIPIENT. SECTION '19. BONDING AND INSURANCE 19.1 SUBRECIPIENT shall observe sound business practices with respect to providing such bonding and insurance as would provide adequate coverage for activities under this HOME AGREEMENT; provided, however, that the foregoing provision of this paragraph shall in no way be construed or deemed to limit or diminish the insurance requirements set forth in the any other GRANT Documents with which SUBRECIPIENT must comply and maintain. 19.2 Upon signing this HOME AGREEMENT and annually thereafter, in addition to any other requirements and obligations of SUBRECIPIENT in the other GRANT Documents, SUBRECIPIENT shall provide the CCCIC with: (1) proof of timely (i.e., before past due) payment in ful[ of all taxes assessed against the Property and (2) evidence of SUBRECIPIENT's current payment status on all GRANTs in connection with the Property and the PROJECT. 19.3 Premiums chargeable far any and all insurance referred to in this Section must be paid by SUBRECIPIENT, at its own expense, unless otherwise authorized in writing by the CCCIC, and such insurance shat[ be kept in force during and throughout the term of this HOME AGREEMENT. Such insurance shall not be materially changed, canceled, terminated, or otherwise allowed to expire unless thirty (30) calendar days advance written notice to such effect is submitted to the CCCIC, and it shall be the responsibility of SUBRECIPIENT to ensure such submission. 19.4 In addition to SUBRECIPIENT's obligation set forth in the other GRANT Documents to provide the CCCIC with Certificates of Insurance evidencing the above- I~fCCAA CHDO Agmt FY05 FY06 Cornhined 2nd Amdmt ]feud 20110111 Page 11 of 3 A required insurances prior to the commencement of this HOME AGREEMENT and thereafter, SUBRECIPIENT must provide to the CCCIC certificates evidencing renewals or replacements of the policies of said insurance at least thirty (30) calendar days prior to the expiration or cancellation of any such policies. Additionally, SUBRECIPIENT shall provide the CCCIC evidence of the payment of all premiums therefor. 19.5 Actual losses not covered by insurance as required by this Section shall not be allowable costs under this HOME AGREEMENT and shalt therefore remain the sole responsibility of SUBRECIPIENT. 19.6 Should SUBRECIPIENT, either directly or indirectly, engage in any construction, rehabilitation, or renovation activities utilizing funds provided pursuant to this HOME AGREEMENT, then the current and specific bonding and compliance provisions required at that time shall prevail. SECTION 20. INDEMNIFICATION 20.1 SUBRECIPIENT covenants and agrees to FULLY INDEMNIFY and HOLD HARMLESS, the CCCIC and the officials, employees, officers, directors, volunteers, agents and representatives of the CCCIC, individually or collectively, from and against any and all costs, claims, liens, damages, losses, expenses, fees, fines, penalties, proceedings, actions, demands, causes of action, liability and suits of any kind and nature, including but not limited to, personal or bodily injury, death and property damage, made upon the CCCIC, direcfty or indirectly arising out of, resulting from or related fo SUBRECIPIENT's activities under this HOME AGREEMENT, including any acts or omissions of SUBRECIPIENT, any agent, officer, director, representative, employee, consultant, contractor or subcontractor of SUBRECIPIENT, and their respective offr"cers, agents, employees, directors and representatives while in the exercise or performance of the rights or duties under this HOME AGREEMENT, all without, however, waiving any governmental immunity available fo the CCCIC under Texas law and without waiving any defenses of the parties under Texas law. IT IS FURTHER COVENANTED AND AGREED THAT SUCH INDEMNITY SHALL APPLY EVEN WHERE SUCH COSTS, CLAIMS, LIENS, DAMAGES, LOSSES, EXPENSES, FEES, FINES, PENALTIES, ACTIONS, DEMANDS, CAUSES OF ACTION, LIABILITY OR SUITS ARISE 1N ANY PART FROM THE NEGLIGENCE OF THE CCCIC, THE ELECTED OFFICIALS, EMPLOYEES, OFFICERS, DIRECTORS, VOLUNTEERS, AGENTS, AND REPRESENTATIVES OF THE CCCIC, UNDER THIS HOME AGREEMENT. The provisions of fhis INDEMNIFICATION are solely for the benefit of the parties hereto and not intended to create or GRANT any righfs, contractual or otherwise, to any ether person or entity. NCCAA CH170 Agmt FY05 FY06 Combined 2nd Amdmt Revd 20110111 Page 12 of 31 SUBRECIPIENT shall promptly advise the CCCIC in writing of any claim or demand against the CCCIC or SUBRECIPIENT known to SUBRECIPIENT related to or arising out of SUBRECIPIENT's activities under this HOME AGREEMENT and shall see to the investigation and defense of such claim or demand at SUBRECIPIENT's cost The CCCIC shall have the right, of its option and at its own expense, to participate in such defense without relieving SUBRECIPIENT of any of its obligations under this paragraph. 20.2 It is the EXPRESS INTENT of the parties to this HOME AGREEMENT that the INDEMNITY provided for in this Section (Section XVII} 'is an INDEMNITY extended by SUBRECIPIENT to INDEMNIFY, PROTECT, and HOLD HARMLESS fhe CCCIC from the consequences of the CCCIC'S OWN NEGLIGENCE, provided however, that the INDEMNITY provided for in this Section SHALL APPLY only when the NEGLIGENT ACT of the CCCIC is a CONTRIBUTORY OR CONCURRENT CAUSE of the resultant injury, death, or damage, and shat! have no application when the negligent act of the CCCIC is the sole cause of the resultant injury, death or damage. SUBRECIPIENT further AGREES TO DEFEND, AT ITS OWN EXPENSE and WITH LEGAL COUNSEL ACCEPTABLE TD THE CCCIC, ON BEHALF OF THE CCCIC AND IN THE NAME OF THE CCCIC, any claim or litigation brought against the CCCIC and its elected officials, employees, officers, directors, volunteers, agents, and representatives, in connection with any such injury, death, or damage for which this INDEMNITY shall apply, as set forth above. 20.3 It is expressly understood and agreed that SUBRECIPIENT is and shall be deemed to be an independent contractor and operator responsible to all parties for its respective acts or omissions and that the CCCIC shall in no way be responsible therefor. SECTION 21. EQUAL EMPLOYMENT OPPORTUNITY AND AFFIRMATIVE ACTION 21.1 SUBRECIPIENT shall comply with all applicable local, State, and federal equal employment opportunity and affirmative action laws, rules, and regulations. 21.2 Sa that the CCCIC and HUD can investigate compliance with local, State, and federal equal employment opportunity and affirmative action laws, rules, and regulations, SUBRECIPIENT shall furnish to the CCCIC and HUD any and all information and reports requested by the CCCIC or HUD and shall permit access by the CCCIC or HUD of any and all of its books, records, and accounts. 21.3 In the event of non-compliance by SUBRECIPIENT (or SUBRECIPiENT's sub- contractors} with local, State, and federal equal employment opportunity and affirmative NCCAA CHDO Agmt FY05 FYD6 Combined 2nd Amdmt Revd 2DllOll 1 Page I3 of31 action laws, rules, and regulations, this HOME AGREEMENT may be canceled, terminated, or suspended by the CCCIC, in whole or in part, and SUBRECIPIENT may be barred from further contracts with the CCCIC. SECTION 22, NONDISCRIMINATION 22.1 SUBRECIPIENT covenants that it, its agents, employees, and anyone under its control, will not discriminate against any individual or group on account of race, color, sex, age, religion, national origin, handicap ar familial sta#us in employment practices or in the use of or admission to the Property, which said discrimination SUBRECIPIENT acknowledges is prohibited. SECTION 23. CONFLICT OF INTEREST 23.1 SUBRECIPIENT covenants that neither it nor any member of its governing body or of its staff presently has any interest, direct or indirect, which would conflict in any manner or degree with the performance of services required to be performed under this HOME AGREEMENT. SUBRECIPIENT further covenants that, in the performance of this HOME AGREEMENT, no persons having such interest shall be employed or appointed as a member of its governing body or of its staff. 23.2 SUBRECIPIENT further covenants that no member of its governing body or of its staff shall possess any interest in, or use their position for, a purpose that is or gives the appearance of being motivated by desire for private gain for themselves or others, particularly those with which they have family, business, or other ties. 23.3 No member of SUBRECIPIENT's governing body or of its staff who exercises any function or responsibility in the review or approval of the undertaking or carrying out of this HOME AGREEMENT shall: (A) Participate in any decision relating to this HOME AGREEMENT, which may affect his or her personal interest or the interest of any corporation, partnership, or association in which he or she has a direct or indirect interest; or (B) Have any direct or indirect interest in this HOME AGREEMENT or the proceeds thereof. SECTION 24. NEPOTISM 24.1 SUBRECIPIENT shall not employ in any paid capacity any person who is a member of the immediate family of any person who is currently employed by SUBRECIPIENT or who is a member of SUBRECIPiENT's governing body. The phrase "member of the immediate family" shall include: wife, husband, son, daughter, mother, father, brother, sister, in-law, aunt, uncle, cousin, nephew, niece, step-parent, step- child, half-brother, and half-sister. NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 2611D111. Page 14 of 31 SECTION 25. POLITICAL ACTIVITY 25.1 None of the pertormances rendered under this HOME AGREEMENT shall involve, and no portion of the funds received hereunder shall be used, either directly or indirectly, for any political activity including, but not limited to, an activity to further the election or defeat of any candidate for public office or for any activity undertaken to influence the passage, defeat, or final content of any local, State, or federal legislation. SECTION 26. SECTARIAN ACTIVITY 26.1 None of the performances rendered under this HOME AGREEMENT shall involve, and no portion of the funds received hereunder shall be used, directly or indirectly, for the construction, operation, maintenance, or administration of any wholly sectarian or religious facility or activity, nor shall said performance rendered or funds received be utilized so as to benefit, directly or indirectly, any such wholly sectarian or religious facility or activity. SECTION 27. INTENTIONALLY DELETED SECTION 28. PUBLICITY 28.1 When appropriate, as determined by and upon written approval of the CCCIC, SUBRECIPIENT shall publicize the activities conducted by SUBRECIPIENT pursuant to the terms ofi this HOME AGREEMENT. In any news release, sign, brochure, or other advertising medium disseminating information prepared for or distributed by SUBRECIPIENT, mention shall be made of HUD-funded CCCIC participation having made this PROJECT possible. SECTION 29. PUBLICATIONS 29.1 All published materials and written reports submitted pursuant to this HOME AGREEMENT shall be originally developed unless otherwise specifically provided for herein. If materia! not originally developed is included in a report, however, said materiai shall have its source identified, either in the body of the report or by footnote, regardless of whether the material is in a verbatim or extensive paraphrase format. 29,2 All published materials submitted pursuant to this PROJECT shall include the fallowing reference on the front cover or title page: "This document was prepared in accordance with the City of Corpus Christi's HOME Investment Partnerships Program, administered by the Corpus Christi Community Improvement Corporation, with funding received from the U.S. Department of Housing and Urban Development." SECTION 30, RIGHTS TO PROPOSAL AND CONTRACTUAL MATERIAL 30.1 All finished or unfinished reports, documents, data, s#udies, surveys, charts, drawings, maps, models, photographs, designs, plans, schedules, or other appended IVCCAA CHDO Agent FYUS FY06 Combined Znd Amdmt Revd 26110111 Fage 15 of 31 documentation to any proposal or contract and any responses, inquiries, correspondence and related material submitted by SUBRECIPIENT to the CCCIC, shall, upon receipt, become the property of the CCCIC. SECTION 31. FUNDING APPLICATIONS 31.1 SUBRECIPIENT agrees to notify the CCCIC each time SUBRECIPIENT is preparing or submitting any application for funding with regard to this PRO,~ECT. When so preparing or submitting such an application, the following procedures shall be adhered to by SUBRECIPIENT: {A} When the funding application is in the planning stages, a description of the funds being applied for and of the proposed use for the funds shall be submitted by SUBRECIPIENT to the CCCIC; {B} Upon award or notice of award, whichever is sooner, SUBRECIPIENT shall notify the CCCIC of the award or notice thereof, and of the effect, ifi any, of such funding on the funds and programs agreed to under this HOME AGREEMENT. Such notice shall be submitted by SUBRECIPIENT to the CCCIC, in writing, within ten (10} business days of receipt of the award or notice thereof, together with copies of the applicable budget, personnel complement, program description, and contract; and {C} Except pursuant to the prior written consent of the CCCIC, SUBRECIPIENT shall not use, either directly or indirectly, resources provided under this HOME AGREEMENT to prepare applications for other fiederal, public, or private funds nor shall said resources be used, directly or indirectly, as contributions or as matching fund requirements. SECTION 32. CERTIFICATION_ S_REGARDING DEBARMENT, SUSPENSION, PROPOSED DEBARMENT AND OTHER RESPONSIBILITY MATTERS 32.1 SUBRECIPIENT certifies, and the CCCIC relies thereon in execution of this HOME AGREEMENT, that neither SUBRECIPIENT nor its Principals are presently debarred or suspended, proposed for debarment, or declared ineligible or voluntarily excluded from the award of contracts or federal funding by any federal governmental agency or department. 32.2 SUBRECIPIENT additionally certifies that neither SUBRECIPIENT nor its Principals have paid or will pay any federal appropriated funds to any person for influencing or attempting to influence an officer or an employee of any agency, a member of congress, an officer or employee of congress, or an employee of a member of congress in connection with the awarding of any federal contract, the making of any federal grant, the making of any federal loan, the entering into of any cooperative agreement, and the extension, continuation, renewal, amendment, or modification of any federal contract, grant, loan, or cooperative agreement. A certification regarding lobbying, executed by and on behalf of the SUBRECIPIENT, is attached to this HOME NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 20110111 Page 16 of 31 AGREEMENT as Exhibit "D" and is incorporated into this HOME AGREEMENT as if its terms and provisions are set out fully herein. 32.3 "Principals," far the purposes of these certifications, means officers, directors, owners, partners, and persons having primary management or supervisory responsibilities within a business entity {e.g., general manager, plant manager, head of subsidiary, division, or business segment, and similar positions). 32.4 SUBRECIPIENT shall provide immediate written notice to the CCCIC, in accordance with Section 47, if, at any time during the term of this HOME AGREEMENT, including any renewals hereof, SUBRECIPIENT learns that its certifications were erroneous or false when made or have become erroneous or false by reason of changed circumstances. 32.5 SUBRECIPIENT's certifications are material representations of fact upon which the CCCIC has relied in entering into this HOME AGREEMENT. Should CCCIC determine, at any time during this HOME AGREEMENT, including any renewals hereof, that these certifications are erroneous or false, or should the certifications become erroheous or false due to changed circumstances, the CCCIC may terminate this HOME AGREEMENT in accordance with Section 37, Termination. SECTION 33. SUBCONTRACTING 33.1 Any other clause of this HOME AGREEMENT to the contrary notwithstanding, none of the work or services covered by this HOME AGREEMENT shall be sub- contracted without the prior written approval of the CCCIC. Any work or services approved for subcontracting hereunder, however, shall be subcontracted only by written contract or agreement and, unless specific waiver is granted in writing by the CCCIC, shall be subject by its terms to each and every provision of this HOME AGREEMENT. Compliance by subcontractors with this HOME AGREEMENT shall be the responsibility of SUBRECIPIENT. 33.2 SUBRECIPIENT agrees that no subcontract approved pursuant to this HOME AGREEMENT shall provide for payment on a "cost plus a percentage of cost" basis. 33.3 Despite the CCCIC's approval of a subcontract, the CCCIC shall in no event be obligated to any third party, including any subcontractor of SUBRECIPIENT, for performance of work or services nor shall CCCIC funds ever be used for payment of work or services performed prior to the date of this HOME AGREEMENT'S execution or extending beyond the date of this HOME AGREEMENT's expiration. SECTION 34. CHANGES AND AMENDMENTS 34.1 Except"when the terms of this HOME AGREEMENT expressly provide otherwise, any alterations, additions, or deletions to the terms hereof shall be by amendment in writing executed by authorized representatives of both the CCCIC and SUBRECIPIENT. 34.2 Whenever and as often as deemed necessary by the CCCIC, the CCCIC may request and require changes to SUBRECIPIENT's Budget and Construction Schedule NCCAA CHDO 1~gmt FY05 FY06 Combined 2nd Amd3nt Revd 20110111 Page 17 of31 required under this HOME AGREEMENT (to be submitted in accordance with Section 10); such changes as requested or required by the CCCIC, however, must be by written amendment hereto. 34.3 Except pursuant to (a) prior submission by SUBRECIPIENT of detailed information regarding budget and PROJECT revisions, and (b) prior written approval thereof by the CCCIC, SUBRECIPIENT shall neither make transfers between or among line items approved within the budget categories set forth in the final Budget and Construction Schedule nor shall SUBRECIPIENT alter, add to, or delete from the final Budget and Construction Schedule. Instead, SUBRECIPIENT shall request budget revisions in writing and in a form prescribed by the CCCIC; such request for revisions, however, shall not increase the total monetary obligation of the CCCIC, as provided for pursuant to this HOME AGREEMENT, nor shall said revisions significantly change the nature, intent, or scope of the PROJECT funded hereunder. 34.4 In the event that the level of funding for SUBRECIPIENT or for the PROJECT described herein is altered, SUBREC#PIENT shall submit, immediately upon request by the CCCIC, revised budget and PROJECT information so as to enable re-evaluation by the CCCIC of the original funding levels set forth in the final Budget and Construction Schedule. 34.5 It is understood and agreed by the parties hereto that changes in local, State, and federal laws, rules, and regulations applicable hereto may occur during the term of this HOME AGREEMENT and that any such changes shall be automatically incorporated into this HOME AGREEMENT without written amendment hereto and shall become a part hereof as of the effective date of the law, rule, or regulation. 34.6 SUBRECIPIENT further agrees to notify the CCCIC of any changes in personnel or governing board composition, such notice to be provided within five (5) business days of the change. SECTION 35. NOTICE AND CURE 35.1 Notwithstanding anything to the contrary set forth herein or in any of the other GRANT Documents, where it is determined that SUBRECIPIENT has failed to comply with any of the terms or conditions of this HOME AGREEMENT or any of the terms of any of the other GRANT Documents, the CCCIC shall notify SUBRECIPIENT of such determination and shall allow SUBRECIPIENT ten calendar {10) days to complete corrective monetary violations or defaults and thirty (3D) days to complete corrective non-monetary violations or defaults prior to enforcing any of it remedies set forth herein or in any of the other GRANT Documents. SECTION 36. SUSPENSION OF FUNDING 36.1 Upon reasonable determination by the CCCIC of SUBRECIPIENT's failure to timely and properly pertorm pursuant to the provisions of this HOME AGREEMENT beyond any applicable notice and cure period, or of any of the other GRANT Documents beyond any applicable notice and cure period, CCCIC, without limiting or NCCAA CHDO Agmt FY05 FYD6 Combined 2nd Amdmt Revd 20110111 Page 18 of 31 waiving any rights it may othen-vise have, may, at its discretion, withhold any, all, and further payments to SUBRECIPIENT. 36.2 The period of funding suspension shall be of such duration as the CCCIC deems appropriate to accomplish corrective action, but in no event shall it exceed thirty (30) calendar days. Upon expiration of the suspension period: (A) Should CCCIC determine that the default or deficiency has been cured, SUBRECIPIENT may, at the CCCIC's option, be restored to full compliance status and paid all eligible funds withheld during the suspension period; or (B) Should CCCIC determine continued non-compliance, the provisions of Section 37 hereunder may be effectuated. SECTION 37. TERMINATION 37.1 "Termination" of this HOME AGREEMENT shall mean termination by expiration of the HOME AGREEMENT term or earlier termination pursuant to any of the provisions hereof. 37.2 CCCIC may terminate this HOME AGREEMENT for any of the following reasons: (A) Neglect or failure by SUBRECIPIENT to perfarm or observe any of the terms, conditions, covenants, or guarantees of 1) this HOME AGREEMENT, 2) any of the other GRANT Documents, or 3) any other valid, written contract or amendment between the CCCIC and SUBRECIPIENT, beyond any applicable notice and cure period; (B) Termination or reduction of funding of the PROJECT by HUD; (C) Failure by SUBRECIPIENT to timely cure any default or deficiency basis for suspension of funding hereunder within any applicable notice and cure period; (D) Finding by CCCIC that SUBRECIPIENT: (1) Is in such unsatisfactory financial condition as to endanger performance under this HOME AGREEMENT, including, but not limited to: (a) The apparent inability of SUBRECIPIENT to meet its financial obligations; or (b) ]teens that reflect detrimentally on the credit worthiness of SUBRECIPIENT, including, bu# not limited to, liens, encumbrances, etc., on the assets of SUBRECIPIENT; NCCAA CHDO Agent FY05 FY06 Combined 2nd Amdmt Revd 2011 OI 11 Page 19 of 31 {2) Has allocated inventory to this HOME AGREEMENT materially exceeding reasonable requirements; or (3) Is delinquent, in the ordinary course of business, in the payment of taxes or in the payment of costs of performance of or related to this HOME AGREEMENT or the PROJECT; {E} Appointment of a trustee, receiver, or liquidator for all or a material part of SUBRECIPIENT's Property or assets, or institution of bankruptcy, reorganization, rearrangement of or liquidation proceedings by or against SUBRECIPIENT, and the same is not dismissed within ninety (90) days thereof; {F) The entry by a court of competent jurisdiction of a final order providing for the modification or alteration of the rights of SUBRECIPIENT's creditors; (G) Inability by SUBRECIPIENT to comply with local, State, or federal laws, rules, or regulations as provided in Section 7, inability to comply or conform with changes in local, State, or federal laws, rules, ar regulations as provided for in paragraph 31.5, or inability to comply with any other Legal Requirements under this HOME AGREEMENT; (H) Violation by SUBRECIPIENT of any law, rule, or regulation to which SUBRECIPIENT is bound or shall be bound under the terms of this HOME AGREEMENT; ar (I) Determination at any time during this HOME AGREEMENT, including any renewals hereof, that SUBRECIPIENT's certifications regarding eligibility to participate in the award of federal funding and regarding lobbying were false or erroneous when made or became false or erroneous due to changed circumstances. 37.3 SUBRECIPIENT may terminate this HOME AGREEMENT for any of the following reasons: {A} Cessation of outside funding upon which SUBRECIPIENT depends for performance hereunder, provided such cessation was not occasioned by a breach of this HOME AGREEMENT by SUBRECIPIENT or a breach of agreement between SUBRECIPIENT and the funding source in question; SUBRECIPIENT may, however, apt within the limitations of this HOME AGREEMENT and with the written approval of the CCCIC to seek an alternative funding source; or {B} Upon the dissolution of the SUBRECIPIENT organization, provided such dissolution was not occasioned by a breach of this HOME AGREEMENT. 37.4 Upon a decision to terminate by either the CCCIC or SUBRECIPIENT, written notice of such, and the effective date thereof, shall be immediately provided to the other party. NCCAA CIIDO Agent FXOS FYOfi Combined 2nd Amdmt Revd 2p11U111 Page 20 of 31 37.5 Upon receipt of notice to terminate, SUBRECIPIENT shall cancel, withdraw, or otherwise terminate any and all outstanding orders and subcontracts which relate to the performance of this HOME AGREEMENT and the PROJECT. To this effect, the CCCIC shall not be liable to SUBRECIPIENT or SUBRECIPIENT's creditors for any expense, encumbrance, or obligation whatsoever incurred after the date of termination or which was not canceled, withdrawn, or otherwise terminated by SUBRECIPIENT in accordance with the provisions of this paragraph. 37.fi Upon receipt of notice to terminate, all finished or unfinished documents, data, studies, surveys, charts, drawings, maps, models, photographs, designs, plans, schedules, or other appended documentation to any proposal or contract, prepared by or on behalf of SUBRECIPIENT under this HOME AGREEMENT shalt, at the option of the CCCIC, and in accordance with Section 30 hereof, become the property of the CCCIC and shall, if requested by the CGGIC, be delivered by SUBREGIPIENT to the CCCIC in a timely and expeditious manner. 37.7 Within thirty {30) calendar days after receipt of notice to terminate, SUBRECIPIENT shall submit a statement to the CCCIC, indicating in detail the services performed under this HOME AGREEMENT prior to the effective date of termination. 37.8 Any termination of this HOME AGREEMENT as herein provided shall not relieve SUBRECIPIENT from the payment of any sum(s) that shall then be due and payable or become due and payable to the CCCIC hereunder or as provided for at taw or in equity, or any claim for damages then or theretofore accruing against SUBRECIPIENT hereunder or provided by law or in equity, and any such termination shall not prevent the CCCIC from enforcing the payment of any such sum{s) or claim for damages from SUBRECIPIENT. Instead, all rights, options, and remedies of the CCCIC contained in this HOME AGREEMENT shall be construed and held to be cumulative and no one of them sha[I be exclusive of the other, and the CCCIC shall have the right to pursue any one or all of such remedies or any such other remedy or relief which may be provided by law or in equity whether or not stated in this HOME AGREEMENT. 37.9 Should this HOME AGREEMENT be terminated by either party for any reason, if the work required hereunder of SUBRECIPIENT is not fully completed to the reasonable satisfaction of the CCCIC in accordance with the. terms of this HOME AGREEMENT, SUBRECIPIENT shall refund any and all sums of money -paid by the CCCIC to SUBRECIPIENT within ten {10) business days of CCCIC's written request therefor. 37.10 Upon termination of this HOME AGREEMENT by the CCCIC under paragraph 35.2{A) hereof, SUBRECIPIENT shall be barred from future contracts with the CCCIC absent the express written consent of the General Manager, or his designee, to contract with the CCCIC. SECTION 38. NOTIFICATION OF ACTION BROUGHT 38.1 In the event that any claim, demand, suit, proceeding, cause of action or other action (hereinafter collectively referred to as a "claim") is made or brought against SUBRECIPIENT, SUBRECIPIENT shall give written notice thereof to the CCCIC within five (5) business days after itself being notified. SUBRECIPIENT's notice to the CCCIC NCCAA CHDO Agmt FY05 PY06 Combined 2nd Amdmt Revd 20110111 Page 21 of 31 shall state the date and hour of notification to SUBRECIPIENT of the claim; the names and addresses of those instituting or threatening to institute the claim, the basis of the claim; and the name(s) of any others against whom the claim is being made or threatened. Written notice pursuant to this Section shall be delivered either personally or by mail in accordance with Section 47 of this HOME AGREEMENT. SECTION 39. ASSIGNMENTS 39.'1 SUBRECIPIENT shall not transfer, pledge, or otherwise assign this HOME AGREEMENT, any interest in and to same, or any claim arising thereunder without first procuring the written approval of the CCCIC's General Manager. Any attempt to transfer, pledge, ar otherwise assign shall be void ab initio and shall confer no rights upon any third person. SECTION 40. NO WAIVER OF PROVISIONS OR COMPLIANCE 40.1 Any failure by the CCCIC to insist, or any election by the CCCIC not to insist, upon the strict pertormance by SUBRECIPIENT or any guarantor of the PROJECT or the GRANT of any of the terms, provisions, or conditions of the GRANT Documents shall not be deemed to be a waiver of same or of any other term, provision, or condition thereof, and the CCCIC shall have the right at any time thereafter to insist upon strict performance by SUBRECIPIENT of any and all of same. Additionally, no advance by the CCCIC of any GRANT proceeds shall in any way preclude the CCCIC from thereafter declaring a failure by SUBRECIPIENT to comply with any of the terms, provisions, or conditions of the GRANT Documents an event of default or, as applicable, a reason for termination in accordance with Section 37 hereof. SECTION 41. SEVERABILITY OF PROVISIONS 41.1 If any clause or provision of this HOME AGREEMENT is held invalid, illegal, or unenforceable under present or future federal, State, or local laws, including but not limited to the CITY's City Charter, CITY's Code of Ordinances, or other CITY codes, then and in that event, it is the intention of the parties hereto that such invalidity, illegality, or unenforceability shall not affect any other clause or provision hereof and that the remainder of this HOME AGREEMENT shall be construed as if such invalid, illegal, or unenforceable clause or provision was never contained herein; it is also the intention of the parties hereto that, in lieu of each clause or provision of this HOME AGREEMENT that is invalid, illegal, or unenforceable, there be added as a part of this HOME AGREEMENT a clause or provision as similar in terms to such invalid, illegal, or unenforceable clause or provision as may be possible, that is legal, valid, and enforceable. SECTION 42. RENEWAL NOT AUTOMATIC 42.1 Funding under this HOME AGREEMENT and any amendments or waivers that may be made or granted hereunder shall not be automatically renewed on the anniversary or extension date of this HOME AGREEMENT. To the contrary, funding of any PROJECT requiring contract execution shall be achieved only pursuant to approval of the City Council of the City of Corpus Christi and the governing body of the CCCIC. NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt ]feud 20110111 Page 22 of 31 SECTION 43. NON WAIVER OF PERFORMANCE 43.1 No waiver by the CCCIC of a breach of any of the terms, conditions, covenants, or guarantees of this HOME AGREEMENT shall be construed or held to be a waiver of any succeeding or preceding breach of the same or any other term, condition, covenant, or guarantee herein contained. Further, any failure of the CCCIC to insist in any one or more cases upon the strict performance of any of the covenants of this HOME AGREEMENT, or to exercise any option herein contained, shall in no event be construed as a waiver or relinquishment for the future of such covenant or option. In fact, no waiver, change, modification, or discharge by either party hereto of any provision of this HOME AGREEMENT shall be deemed to have been made or shall be effective unless expressed in writing and signed by the party to be charged. 43.2 No act or omission of the CCCIC shall in any manner impair or prejudice any right, power, privilege, or remedy available to the CCCIC hereunder or by law or in equity, such rights, powers, privileges, or remedies to be always specifically preserved hereby. 43.3 No representative or agent of the CCCIC may waive the effect of the provisions of this Section. SECTION 44. SPECIAL CONDITIONS 44.1 SUBRECIPIENT shall prepare accurate and complete monthl~ performance measures reports and submit to the CCCIC on or before the tenth (10 h) day of each month, with each report reflecting the previous month. Each such report shall contain details of all inputs {i.e., resources) and outputs (i.e., utilization of resources) in conjunction with efficiency and effectiveness measures regarding the PROJECT. The form of each report must meet the approval of the CCCIC, and SUBRECIPIENT agrees to make any and all changes to such form as may be recommended by the CCCIC, as well as provide additional information in connection with such reports as may be requested by the CCCIC. 44.2 SUBRECIPIENT shall ensure that all professional and contractual services in connection with PROJECT implementation shall be procured in accordance with 24 CFR 570, Part 85; the Common Rule; Procurement; Competitive Standards; and all other federal laws and regulations applicable to the PROJECT. 44.3 The PROJECT shall have seven U units designated as HOME-assisted units, and such housing units shall be designated as fixed units pursuant to federal regulations. 44.4 INTENTIONALLY LEFT BLANK. 44.5 SUBRECIPIENT understands and acknowledges that the CCCIC shall not be liable for any cost, or portion thereof, which is or was incurred in connection with an activity of SUBRECIPIENT where prior written authorization from the CCCIC is required far the activity and such authorization was not first procured, or the CCCIC has requested that SUBRECIPIENT furnish data concerning an activity prior to proceeding NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 2x110111 Page 23 of31 further therewith and SUBRECIPIENT nonetheless proceeds without first submitting the data and receiving approval thereof. 44.6 SUBRECIPIENT shall forward to the CCCIC for approval a completed copy of Homeownership AssistancelRental Housing PROJECT Setup Report (HUD form 40094) for the HOME Program Integrated Disbursement Information System (IDIS) for each activity under this HOME AGREEMENT, prior to initiating any activities or incurring any PROJECT activity costs. 44.7 SUBRECIPIENT understands and agrees that Davis-Bacon Wage and Hour Requirements shall apply to HOME-funded PROJECTS when, in accordance with 24 CFR 92.354, twelve (12) or more units are rehabilitated or newly constructed. SUBRECIPIENT agrees to include said wage requirements in all bid advertisements and shall require same in all relevant third-party contracts, prior to the commencement of any construction activity. 44.$ SUBRECIPIENT shall accurately complete a PROJECT Completion Report (HUD form 40096) upon completion of each PROJECT activity, and forward the original completed form to the CCCIC within thirty (30) business days after SUBRECIPIENT's receipt of the final remittance of HOME AGREEMENT funds by the CCCIC for such PROJECT activity. SUBRECIPIENT understands and acknowledges that new PROJECT Set-up Reports will not be processed by the CCCIC if there are any outstanding PROJECT Completion Reports due. 44.9 SUBRECIPIENT shall ensure that all units constructed with assistance made available to SUBRECIPIENT by CCCIC under this HOME AGREEMENT shall comply with the provisions set forth in 24 CFR 92.251, Property Standards, and shall comply with applicable provisions of the CITY's Code of Ordinances. 44.10 SUBRECIPIENT shall complete all site-specific environmental review inspections and records fior each parcel of this PROJECT and submit such inspections and records to the CCCIC. The CCCIC must approve in writing such inspections and records prior to any PROJECT activity cost being incurred. 44.11 To the greatest extent feasible, agreements for work to be performed in connection with this PROJECT shall be awarded by SUBRECIPIENT to business concerns including, but not limited to, individuals or firms doing business in the field of planning, consulting, design, architecture, building construction, rehabilitation, maintenance, or repair that are located in or owned in substantial part by persons residing in the same metropolitan area or non-metropolitan county as this PROJECT. 44.12 SUBRECIPIENT understands and agrees that all HOME-assisted units in the PROJECT shall only be leased to and occupied by households that are eligible as qualified low-income individuals and families, in accordance with HUD Section 8 income Guidelines. 44.13 INTENTIONALLY LEFT BLANK. NCCAA CHDO Agmt FYU5 FYa6 Combined 2nd Amdmt Revd 2011Q111 Page 24 of31 44.14 SUBRECIPIENT understands and agrees that, pursuant to 24 CFR 92.252, its maximum or "High" rents for its HOME-assisted affordable units in the PROJECT herein shall be the lesser of: (A) The fair market rent for existing housing for comparable units in the area as established by HUD under 24 CFR 888.111; or (B) Arent that does not exceed thirty percent {30%) of the adjusted income of a family whose annual income equals sixty-five percent (fi5%) of the median income for the area, as determined by HUD, with adjustments for the number of bedrooms in the unit. 44.15 SUBRECIPIENT shall, in accordance with all applicable HOME regulations, determine and utilize rent schedules and limits that ensure that the rent charged for all PROJECT units remains in compliance with the HOME regulations and standards during the period of affordability. Furthermore, SUBRECIPIENT shall lease to qualified individuals and families not less than the minimum allowed percentage of Low and Nigh rent HOME-assisted affordable units required under the HOME regulations during the period of affordability. 44.16 SUBRECIPIENT further understands and agrees that Low rent HOME-assisted affordable units must meet one (1 } of the following Low HOME rent requirements: (A} The rent shall not exceed thirty percent (30%) of the annual income of a family whose income equals fifty percent (50%) of the median income for the area, as determined by HUD, with adjustments for smaller and larger families; or (B} The rent shall not exceed thirty percent (30%) of the family's adjusted monthly income. If the unit receives Federal or State PROJECT-based rental subsidy and the very low-income family pays, as a contribution toward rent, nat more than thirty percent (30%) of the family's adjusted income, then the maximum rent (i.e., tenant contribution plus PROJECT- based rental subsidy} is the rent allowable under the Federal or State PROJECT-based rental subsidy program. 44.17 INTENTIONALLY LEFT BLANK. 44.18 INTENTIONALLY LEFT BLANK. 44.19 SUBRECIPIENT shall not discriminate against any certificate or voucher holder in accordance to 24 CFR Part 982, Section 8, Tenant Based Assistance: Unified Rule for Tenant-Based Assistance under the Section 8 Rental Certificate Program and the Section $ Renta! Voucher Program or to the holder of a comparable document evidencing participation in a HOME tenant-based rental assistance program. 44.20 SUBRECIPIENT understands, agrees, and shall ensure that the HOME assisted units meet the affordability requirements, as such requirements are set out in federal law, for not less than twenty (20),.years, commencing upon PROJECT completion. NCCAA CH170 Agmt FY65 FYOG Combined 2nd Amdmt Revd 20110111 Page 25 of31 44.21 The CCCIC shall provide SUBRECIPIENT with information on updated HUD HOME rent limits so that rents may be adjusted (not to exceed the maximum HOME rent limits provided by HUD to the CCCIC upon HUD's determination ofi fair market rents and median incomes) in accordance with this HOME AGREEMENT. SUBRECIPIENT shall annually provide the CCCIC with documentation on rents and occupancy of HOME-assisted units to demonstrate compliance. 44.22 SUBRECIPIENT understands and agrees that any increase in rents for HOME- assisted units is subject to the provisions of outstanding leases, and in any event, SUBRECIPIENT shall provide tenants of those units not less than thirty (30) days prior written notice before implementing any increase in rents. 44.23 SUBRECIPIENT understands and agrees that the income of each tenant shall be determined initially in accordance with 24 CFR 92.203(a}{1)(i). SUBRECIPIENT shall annually re-examine each tenant's annual income during the period of affordability in accordance with one of the options in 24 CFR 92.203. 44.24 SUBRECIPIENT shall ensure that HOME-assisted units continue to qualify as affordable hauling despite a temporary noncompliance caused by increases in the incomes of existing tenants if actions satisfactory to the CCCIC are being taken to ensure that all vacancies are filled in accordance with 24 CFR 92.252 until the noncompliance is corrected. 44.25 SUBRECIPIENT shall ensure that tenants who no longer qualify as low-income families must pay, as rent, the lesser of the amount payable by the tenant under State or local law or thirty percent {30%) of the family's adjusted income, except that tenants of HOME-assisted units that have been allocated low-income housing tax credits by a housing credit agency pursuant to Section 42 of the Internal Revenue Code of 1986 {26 U.S.C. 42) must pay rent governed by Section 42. If SUBRECIPIENT has designated the HOME units as "floating" pursuant to Section 41.3 herein, SUBRECIPIENT shall not require tenants who no longer qualify as low-income to pay, as rent, an amount that exceeds the market rent for comparable, unassisted units in the neighborhood. 44.26 SUBRECIPIENT shall submit to the CCCIC a post-construction appraisal promptly upon completion of the PROJECT. 44.27 SUBRECIPIENT acknowledges, understands and agrees to comply with the fopowing federal regulations as promulgated in Article 3 of the Housing and Urban Development Act of 1968, as amended, if applicable: (A) The work to be performed under this HOME AGREEMENT is subject to the requirements of Article 3 of the Housing and Urban Development Act of 1968, as amended, 12 U.S.C. 1701 u (Section 3}. The purpose of Article 3 is to ensure that employment and other economic opportunities generated by HUD assistance or HUD-assisted PROJECTs covered by Article 3, shall, to the greatest extent feasible, be directed to low- and very low income persons, particularly persons who are recipients of HUD assistance for housing. NCCAA CHDO Agmt FY05 FX06 Combined 2nd Amdmt Revd 20110111 Page 26 of 31 (B) The parties to this HOME AGREEMENT agree to comply with HUD's regulations in 24 CFR Part 135, which implements Article 3. As evidenced by their execution of this HOME AGREEMENT, the parties to this HOME AGREEMENT certify that they are under no contractual or other impediment that would prevent them from complying with the Part 135 regulations. (C) The SUBRECIPIENT agrees to send to each labor organization or representative of workers with which the contractor has a collective bargaining agreement or other understanding, if any, a notice advising the labor organization or workers' representative of the contractor's commitments under the Article 3 clause and will post copies of the notice in conspicuous places at the work site where both employees and applicants for training and employment positions can see the notice. The notice shall describe the Article 3 preference, shall set forth minimum number and job titles subject to hire, availability of apprenticeship and training positions, the qualifications for each; and the name and location of the person(s) taking applications for each of the positions; and the anticipated date the work shall begin. (D} SUBRECIPIENT agrees to include the Article 3 clause in every subcontract subject to compliance with regulations in 24 CFR Part 135, and agrees to take appropriate action, as provided in an applicable provision of the subcontract or in the Article 3 clause upon a finding that the subcontractor is in violation of the regulations in 24 CFR Part 135. SUBRECIPIENT will not subcontract with any subcontractor where SUBRECIPIENT has notice or knowledge that the subcontractor has been found in violation of the regulations in 24 CFR Part 135. (E} SUBRECIPIENT will certify that any vacant employment positions, including training positions, that are filled (1) after contractor is selected but before the contract is executed, and (2) with persons other than those to whom the regulations of 24 CFR Part 135 require employment opportunities to be directed, were not filled to circumvent SUBRECIPIENT's obligations under 24 CFR Part 135. (F} Noncompliance with HUD's regulations in 24 CFR Part 135 may result in sanctions, termination of this HOME AGREEMENT for default, and debarment or suspension from further HUD-assisted contracts. (G) With respect to work performed in connection with Article 3 covered Indian housing assistance, Article 7{b) of the Indian Self-Determination and Education Assistance Act (25 U.S.C. 450e) also applies to the work to be performed under this HOME AGREEMENT. Article 7(b} requires that to the greatest extent feasible (i) preference and opportunities for training and employment shall be given to Indians, and (ii} preference in the award of contracts and subcontracts shall be given to Indian organizations and Indian-owned Economic Enterprises. Parties to this contract that are I~CCAA CHDO Agmt FYUS FY06 Combined 2nd Amdmt Aevd 20I 10111 Page 27 of 31 subject to the provisions of Article 3 and Article 7(b} agree to comply with Article 3 to the maximum extent feasible, but not in derogation of compliance with Article 7(b). SECTION 45. ENTIRE AGREEMENT 45.1 This HOME AGREEMENT, along with the other GRANT Documents, constitutes the final and entire agreement between the parties hereto and contains all of the terms and conditions agreed upon the parties. No other agreements, oral or otherwise, regarding the subject matter of this HOME AGREEMENT shall be deemed to exist or to bind the parties hereto unless the same is in writing, dated subsequent to the date of this HOME AGREEMENT, and duly executed by the parties. SECTION 46. INTERPRETATION 4fi.1 In the event any disagreement or dispute should arise between the parties pertaining to the interpretation or meaning of any part of this HOME AGREEMENT or its governing law, rules, regulations, codes, or ordinances, the CCCIC, as the party ultimately responsible to HUD for matters of compliance, shall have the final authority to render or secure an interpretation. SECTION 47. NOTICES 47.1 All notices, demands, requests or other communications to be sent by one party to the other hereunder or required by law shall be in writing and shall be deemed to have been validly given or served by delivery of the same in person to the intended addressee, or by depositing the same with Federal Express, UPS, or another reputable private courier service for next business day delivery to the intended addressee at its address set forth below or at such other address as may be designated by such party as herein provided, or by depositing the same in the United States mail, postage prepaid, certified mail, return receipt requested, addressed to the intended addressee at its address set forth below or at such other address as may be designated by such party as herein provided. All notices, demands and requests shall be effective upon such personal delivery, or one (1}business day after being deposited with the private courier service, or three (3} business days after being deposited in the United States mail as required above. Rejection or other refusal to accept or the inability to deliver because of changed address of which no notice was given as herein required shall be deemed to be receipt of the notice, demand, or request sent. Service of any notice required by Texas Property Cade Section 51.002, as the same may be amended, shall be effective when the requirements to that statute are met. The following are the addresses of the CCCIC and SUBRECIPIENT for all purposes in connection herewith: NCCAA CHDO AgmY FY05 FY06 Combined 2nd Amdmt Revd 20110ll 1 Page 28 0#'31 CCCIC: Corpus Christi Community Improvement Corporation Attn: General Manager P. O. Box 9277 Corpus Christi, TX 78469-9277 for personal or courier delivery: 1201 Leopard Street, Corpus Christi, TX 78401 SUBRECIPIENT: Nueces County Community Action Agency Attn: Executive Direc#or 101 South Padre Island Drive Corpus Christi, TX 78405-4102 47.2 By giving to the other party at least ten (10) days' prior written notice in accordance with the provisions hereof, the parties to this HOME AGREEMENT shall have the right from time to time to change their respective addresses and each shall have the right to specify as its address any other address. SECTION 48. PARTIES BOUND 48.1 This HOME AGREEMENT shall be binding on and inure to the benefit of the parties and their respective heirs, executors, administrators, legal representatives, successors, and assigns, except as otherwise expressly provided herein. SECTION 49. GENDER AND NUMBER 49.1 Words of gender used in this HOME AGREEMENT shall be held and construed to include the other gender, and words in the singular number shall be held to include the plural, unless the context otherwise requires. SECTION 50. RELATIONSHIP OF PARTIES 50.1 Nothing contained in this HOME AGREEMENT shall be deemed or construed by the parties hereto, or by any third party, as creating the relationship of principal and agent, partners, joint venturers or any other similar such relationship between the parties hereto. 50.2 It is expressly understood and agreed that SUBRECIPIENT is and shall be deemed to be an independent contractor and operator responsible to all parties for its respective acts or omissions and that the CCCIC shall in no way be responsible therefor. SECTION 51. TEXAS LAW TO APPLY 51.1 THIS HOME AGREEMENT SHALL BE CONSTRUED UNDER AND IN ACCORDANCE WITH THE LAWS OF THE STATE OF TEXAS, AND ALL NCCAA CHDO Agmt FY05 FY06 Combined 2nd Amdmt Revd 2011011 I Page 29 of 31 OBLIGATIONS OF THE PARTIES CREATED UNDER THIS AGREEMENT ARE PERFORMABLE IN CORPUS CHRISTI, NUECES COUNTY, TEXAS. SECTION 52. CAPTIONS 52.1 The captions contained in this HOME AGREEMENT are far convenience of reference only and in no way limit or enlarge the terms or conditions of this HOME AGREEMENT. SECTION 63. SUBORDINATION 53.1 INTENTIONALLY LEFT BLANK." (End of new provisions to Agreements added by this Second Amendment document to replace Sections 4 through 27 of the previously existing Agreements. The following is the continuation of the formal provisions of the Second Amendment.] Section 4. The exhibits listed as originally attached to the Agreements and incorporated therein by reference, as specifically follows: (1) Exhibit A, Performance Statement {2) Exhibit B, Homebuyer Assistance Budget {3) Exhibit E, Note Provisions & Deed of Trust Covenants (4) Exhibit F, Sample Affordability Covenant (5) Exhibit G, Lender's Estoppel Certificate; are deleted in their entirety and are replaced with the following exhibits, each of which is incorporated by reference into each of the Agreements as if set out therein (in the applicable agreement) and herein (in this Second Amendment) in their entirety: (1) Exhibit A -Budget and Construction Schedule {2) Exhibit B -Declaration of Restrictive Covenant {3) Exhibit E -Proposed Multi-Family Project Development Plan; and, for the purposes of this Section 2 and the Agreements, the parties agree that the former Exhibit C, entitled "Other Federal Requirements" and Exhibit D, entitled "Certification Regarding Lobbying," remain unchanged and as originally executed. Section 5. A copy of Exhibit B, entitled "Declaration of Restrictive Covenant," is attached to this Second Amendment, the contents of which are incorporated by reference into the Agreements as if fu11y set out therein in each and are effective for all intents and purposes. Being that the contents of Exhibit B in the FY05 Agreement will be identical to Exhibit B in the FY06 Agreement, the parties agree that only one Declaration of Restrictive Covenant need be filed of record in the Nueces County property deed records. Section 6. A copy of Exhibit E, entitled "Proposed Multi-Family Project Development Plan," is attached to this Second Amendment, the contents of which are incorporated by reference into the Agreements as if fully set out therein in each and are effective for all intents and purposes. NCCAA CF1D0 Agmt FY05 FY06 Combined 2nd Amdrttt Revd 201/0111 Page 30 of 31 Section 7. All terms and conditions of the FY05 Agreement and the FY06 Agreement not changed by the First Amendment and this Second Amendment remain the same and in full force and effect. EXECUTED in duplicate originals this the _~ day of 2011. ATTEST: CORPUS CHRISTI COMMUNITY IMPROVEMENT CORPORATION ~~ Armando Chapa el R. Escobar I ~ ~1f1'tlplti~~p Secretary eneral Manager SUBREClPIENT: NUECES COUNTY COMMUNITY ACTION AGENCY, a Texas nonprofit corporation -l ~ ~ `~ Jo .Martinez Date Executive Director ACKNOWLEDGMENT STATE OF TEXAS § COUNTY OF NUECES § This instrument was acknowledged before me on the ~ day o 011, by Joe Martinez, Executive Director of the Nueces County ommunit Action A ncy, a Texas nonprofit corporation, on behalf of the corporation. ~. ,.,,t~~,,,R, }~~*Rr~o~r. I.AURISA LYNN ~AKLIK Notary Puhllc, State of Teas '"'' *: My Commission Ead~lros "„~oF;.~ Marah Q4, ~IZ1 I~CCAA CHDO Agnt FXOS FY06 Combined 2nd Amdmt Revd 203 303 13 Page 3I of 3I EXHIBIT A Preliminary Budget & Construction Schedule FY and Funding: FY05 and FY06 HOME Project Name: Houston St. Project . Organization: Nueces County Community,Action Agency Total Project Cost: $695,983 FY05 HOME FUNDS: $266,000, FY05, Funds available to date: $261,b(?4 FY06 HOME FUNDS: $_200,000 Total HOME Funds Available To-Date: $~ Preliminary Budget Project Financial Resources: (list may be adjusted to meet your project) {Funds available to complete project} Amount • Frivate Funding Source ..................................................................... $234,379 • Total HOME Project Funding ............................................ ....._.....$46L604 ..... • Other: (Specify) .............................................................................$ Total Funds Available for Proiect ......................................................... 6 S 983 Estimated Expenses: (list may be adjusted to meet your project) ist estimated ex enses to com lete our ro'ect such as: Amount • Land Acquisition ..................................................................... $ 21.000 • Site Prep ............................................................................................ $ 3,000 • Down Payment Assistance ................................................................. $ • Construction Cost ..............................................................................$600,000 • Construction Related Contingencies .................................................. $ 10.000 • Other: (Specify)Loan Fees & Carrying Charges ........................ $ 38,783 • Professional Fees, legal, organization, & thud party costs......... $ 23,200 Total Pro'ect Cost ........................................................................ $695,9$3 L ands needed for, the nroiect) NOTE: The "total funds available for the ro'ec " shall be a ual to the "total ro"ect cost." Prelimina Construction Schedule (Project Dates for completion of key project phases) • Land Acquisition ..........................................................FEBRUARY 2011 • Platting/Soi1 Testing (other) .............................................FEBRUARY 2011 • DesignBid Documents (specification packet] .......................MARCH 2011 • Advertisement dates: MUST BE: 1 day/2 wks .......................MARCH 2011 • Bid opening ................................................................APRIL 2011 • Contract award ............................................................APRIL 2011 • Pre-construction Meeting ........... ................................APRIL 2011 • Construction Start ........................................................MAY 2011 • Construction 100% completion ......................................................DECEMBER 2011 • NOTE: A final Budget and Construction Schedule MUST be submitted IO-daysprior to construction start date. EXHIBIT B COVENANT TO BIND PROPERTY FOR PERIOD OF AFFORDABILITY STATE OF TEXAS § § KNOW ALL BY THESE PRESENTS: COUNTY OF NUECES § Pursuant to a second amendment (°Second Amendment") to the FY05 and FY06 HOME funding agreements ("Agreements") entered into between the Corpus Christi Community Improvement Corporation ("CCCIC") and the Nueces Coun#y Community Action Agency ("CHDO"), executed of even date herewith, which Second Amendment is incorporated in this instrument by reference as if fully set ou# herein ("Amendment"), CHDO accepted federal funds, in conjunction with the United States Department of Housing and Urban Development's Home Investment Partnership Program ("HOME Program") administered by the CCCIC, for new construction of residential affordable housing units on the following property: Lots 26-A & 26-B, Block 3, Laughlin Addition, an Addition to the City of Corpus Christi, Nueces County, Texas, as shown by the map or plat thereof recorded in the Map Records of Nueces County, Texas, and commonly known by its street address of 3220 Houston Street, located in Corpus Christi, Nueces County, Texas (hereinafter referred to as the "Property"). Pursuant to the terms, conditions, and covenants contained within the Amendment (and related Agreements), as owner of the Property and in consideration of receiving the federal funds, CHDO agrees to bind the Property with the affordability requirements specified in Title 24, Part 92.252, of the United States Code of Federal Regulations, for a period of not less than twenty (20) years from the date of completion of construction, such date of completion presently unknown but anticipated to be not later than November 30, 2011. This instrument constitutes a covenant running with the land and binds all successors, assigns, and transferees of the Property, such Property being subject to this instrument. {EXECUTION PAGE FOLLOWS) Page 1 of 2 NUECES COUNTY COMMUNITY ACTION AGENCY, a Texas nonproft corporation oe .Martinez, Execu~irector ~ // r Printed Name: V~ '~ ~~~ Date: - j ~- STATE OF TEXAS § COUNTY OF NUECES § This instrument was acknowledged before me on the 1~ day o 011, by Joe A. Martinez, Executive Director ofi the Nueces County mmuni Ac on Agency, a Texas nonprofit corporation, on behalf of the corpor~tioa~ ~~~Ar'?V~~~~ o o~~ LAURI5A LYNN BAKLIK :'' '"= Notary Public, State of Texas =,~~. ~~~ My Commission Expires N~ 4~ ~'''w~`'~ NI~CGh 09, 201 i STA AFTER RECORDING, RETURN TO: Corpus Christi Community Improvement Corporation Attn: General Manager cIo NSD -Community Development Division P, O. Box 9277 Corpus Christi, Texas 78469-9277 PUBLIC F TEXAS Page2of2 Nue~~s ~aur~ty Helping P~o~1~. c~ng~n~ Li~e~. 3220 HOUSTON STREET ~'' PR~P~~=E~ ~I~fLT~~-~tLY ~1~0.#-ECT ~~~1~E~LC~~aT PL~4 [~c=t~~~r~r ~~~, X49 ~~ ~® CHAR7ER~D MEMBER t ~ ~ . , T~4BLE 4f C~-h~T~NTS Project Description ...................................................................................... 1 Market Anafysis ........................................................................................... 2 Property Location ........................................................................................ 3 TenantslUnit 13escriptian .................................................:.............:...._......... 6 Construction Type/energy Efficiency .......................................... ................. 7 Property Nlanagement ................................................................................. 8 Organizational Irnpact .................................................................................. 9 Financials Worksheet A -Sources & Uses ...................................................... 1 D 'Worksheet B lnr~me Budget ........................................................ 12 Worksheet C -Operating Budget .................................................... 13 Supplemental Information 2Q09 HO(~IE Ftents ............................................................................ 1 t; Letter of ~Suppart City of Carpus Christi ................. ................... 1'7 Frost Bank - letter of lnterest ... ....................................................... 1'8 CBCIt_ _ Letter of Need ............ ...................................................... 19 AHRI _ Letter of lnterest...... ............................................................ 20 Project Schedule .................................,......................................................... 21 ,~ I . . ~- Nueces County Community Action Agency ('IVCCAA) is proposing to construct ~ seven (7) ur~~ multifamily project with accessible design to serve households at 80% or below the area median 'income.. The project will consist of four {4) -two bedrooms, two baths units and three (3) -one bedroom, one bath units with accgssil?r1e design- features to server people with physical disabilities. This i;; an underserved population in Corpus Christi and an issue NC.C,4A woeild like to address with this project. Each yenta! unit wi11 have a fully accessible -entry and interior doors. The primary concentration of the accessible design will be in the bathrooms. Each unit will have a "super" bathroom to accommodate a person who is wheel chair bound. The intent of the accessible design into improve the quality of life for a person with a physical disability or far the family member(s) who care far these individuals. The proposed pmject will be energy star rated and incorporate green building concepts. The development wiN be constructed uw~h insulat~l concrete. for€n (ICF) cor~structio~n, a metal energy efficient roof .and incorpa~ta energy ef5ciierit concepts such as enemy star C~ghting fi~ctures and appliances arrd tank less water heaters. i=ioors will be stained cpncrete #or durability and maintenance. ArY estimated COs/o of the co.n'struction. cost -~vill be utilized to incorporate then rneas~ures. Tie in#ent of these: construction techniques is to reduce future maintenance cost for the agency and reduce energy consumption by the tenants. The project si#e is centrally located 'in Corpus Christi, Texas... The property is platted as two 58' x 185' lots totaling 2'1,192 sq. ft. or .4865 acres. The property is zoned R-2, which is for up to ten multi=family units. Public tra;:nsportation is located across the street from the property' an Kos#oryz. The g%cery s'toraelpharmacy (H:E.B) is less than half a block away. There is a~a elementary., ~iddte, and huh school within less than a one mile radius of the property. The rear of the property is adjacent to a church and a large green space, Browner Parkway. The project will be ideally located in an area with many desirable amenities. NCCAA is committed to improving the affordable pausing stock in Corpus Christi for all low-moderate in households. This is an opportunity for the organization to address a need for a population that is often overioo.ked in the community. -1- ` l '' According to a 2066 Fair Housing steady conducted by the City of Corpus Christi the study revealed that of 60 of 77 subsidized rental properties in Corpus Christi, ali maintained a waiting list for units with accessible features. Some waiting lists were as least six months in length; and often a year or more. Same -had a waiting period of 18 months to three years. Current information from tffe Corpus. Chrisfii Housing Authority identifies 360 individuals on the Section 8 waiting list, with 18 to 24 months the average. waiting. time. Cf the 360, 48 have. identified themselves as ind:~viduals with physical disabilities. in addition, as the population ages the demographic of people with physical disabilities.increases yearly increasing the demand for accessible units. Considering the market data i`s three, going on four years old, tine inventory of accessible units has not increased in the fast years. The only comparable units to add to this Inventory will be the five one (1) bedroom units currently under construction by the Coastal Bend Center for independent Living (CBCI1_). The project is located on Staples Street close to the Morgan and Staples intersection. ,Even with these units coming into the market place there is sufficient market demand to absorb CBCIL's units and NCCAA's units at the end of 20t q. The concentration of marketing for 1~lCCAA's ;Seven units will target households on CBCIt_'s Tenant Based Rental Assistarice~ (TBF~-) program's waiting list and the Housing Authority of Corpus Christi's Section S waiting list.. Based on the current information provided in CBCII.'s attached letter there is 187 households. on their waiting list and the demand is increasir}g. The historical- analysis and current market data support the demand for accessible units. Qn a side note, NCCAA's Head Start program has six (6) children witfi physical disabilities enrolled in the program. This project would provide an excellent opportunity to transition any Head Start households with physically disabled children that are currently renting substandard housing into an accessible designed unit to provide improved living accommodations for the child and family. } ~ I n ! n PROPERTY DESCRIPTION: Sltus Address: 3220 Houston Street, Corpus Christi TX 78415 Legal Description: Laughlin Addition LTS 26-A & 2fi-B BK 3 Lof Dimensions: 58.66' x 18Q.fi4' x 2 (2 lots} Current Land Wse: Vacant Land Land Square Footage: 21,192.68 Acreage:.48659 69 Zoned: R-2 Appraisal Districts 2009 Appraised Value: $26,49t~ PROPOSED LAND USE: R-2 Usage -Section 7-2.3 - Multi€am.ily or townhouse dw.eliing housing no more than ten (1.0) dwellings per de#ached ~uild'ing ar S:ingle f=amily homeownership SITE MAP F ,. ,,r. ,.. ~ ..: - L ° v s '` ~Rh4L VI:E'V ~_ S ... . The proposed tenants for these units will be :perst~ns with physical drsabil'ities with incomes at 8.0% or below the area median.incorne. 2U09 HUIJ Income- Lim'i#s $52 ~D0 Household Size 80% of AIVII 1 erson $28 ~ (70 2 erson $32 10 , 3. erson 4 ersor bd°~ of AMI , $17,5~D „ 0 $20,1Ufl- X38 f150 $40,1 $22,,6~OU $25 14D 30% Of AMl $10;550 ~12;;P]~r1 , ~~ ~ can ~. t .. ~_ The Coastal Bend Genter for Independent Living ~GI3CIL) :and the Reusing Authority of Corpus Christi (HACC} will be the source for these tenants. Rased on the 2(708 need assessment sourced in the market analysis and the current need noted in the attached letter #rom CECIL there is sufficient marke# demand and need to absorb these seven units. GBCIL provides Tenant Based Rental Assistance (TBRA} vouchers for loin to :moderate income, households with persons} with disabilities. The HACC provides Section S vouchers for low moderate income households. The proposed pro}ect will consist of four (4) wo bedroom/two bath units and three (3) one bedrooml+nne bath units. The co:ncentra#ion of accessible design wild be in the unit's bathrooms. The one bedroom units will have one accessibly designed bathroom, and the two bedroomltwo ba#hroom units will only have one .accessibly designed restroom. Each accessibly designed restroam-will include; • Roll in shower with grab bars • ADA wa#er closet {toilet} with grab bars • ADA sink with call up clearanve under the sink • Sufi lcient #I+oor spate to accommodate a wheefdhair`s turning radius General ADA Design to include: • Na step unit entry • 36~ wide entry and interior doors • Lever door knobs aril drawer pulls • Lowered Kitchen sink vuith roll up access • Lowered cook top with rollup access • Stained concrete floorslno carpet (Improve traction) . _.. The proposed construction type for this project is Insulated Concrete Form (1CF) constructFon. There is an initial higher construction cost associated r~n~kh utilizing this construction type and incorporating the energy efficiency components. However, the initial cost will be offset by long-#erm savings for the agency and tenan#s. Near Zero Air Infltration - FGF construction is extremely air-tight. No joints exist between wa~Fls, or walls and floors. This prevents conditioned air leaking from the interior to the exterior of the home. Fu' Energy savings from reduced air infiltration are obvious when compared to the large amoun# of heating and cooling losses experienced in traditionally built houses. Improved Energy Operations -The superior insulation, air tightness., and mass ofi the walls can reduce the caost of operating HVAC in the building by up to 40%. In addi#ion, °"<~ lCF's allow the installation of smaller (generally, less expensive) heating and cooling equipment. The high R-value combined with thermal mass means lCF walls exceed most energy code requirements..!f the buiid.ing is like most buildings, it is using fossil fuel. By reducing the building's fossil fuel requirements, the l~F plays an irnpo.ttant role in reducing the negative environmental impacts associated with fossil fuel use. May contribute tv LEED Credit EA 1. Natural disaster resistance -Concrete buildings survive high-force winds like hurricanes far :better than wood or metal frame buildings. Reduces insurance cost for the agency Fire resistance - Of all cons#ruction materials, concrete is one of the mast resistant to heat and fire. Experience shows that concrete structures are more likely to remain standing thmugh fire than are structures of other materials. Concrete walls have also proven more resistant to allowing fire to pass from one side of the wall to the other. This is a significant benefit in areas where brush fires are common, ar where high density zoning increases the risk of fire spreading. Unliixe wood, concrete does not bum. Unlike steel, it does not soften and bend, Concrete does not break down until it is exposed to thousands of degrees Fahrenheit far more than is preser~f In the typical residential or ofi lce building fire. • Metal Roof Compact quorescentlLED .Fighting ~ ~Tankless water heaters Energy star appliances/HVAC 7 ,, , . ~.. ,.. . ,-.. _ _ ,.... -~ Currently, NCCAA does not have the internal capacity within the Housing Department to perform the property management. Just as NCCAA outsaucces the management of our tvva Robstown Homes to the Robstown Housin Auth Mroperty agency will also autsource the properly mane ement for this deuelopm. ent. -The . ~g cal p p rty p , ~ choice for roe management on this ra ect is Accessit~le Housing Resource, lnc. f AfiRl)~, AHRi has the expertise managing rental ur~i#s with Iow-moderate income tenants avith disabilities. Since AHRI caters to this. client ,base tMe~ are aware of tl~e sp8cit'rc. needs. required by tenants with disabilities. AHRI rnaintafns a close working relatiar~ship r~rith CI3CIL and working together they can provide additional services to 'the residents. In addition, by outsourcing the property management to another non profit NCCAA is help that organization develop capacity. r F ~~; ~ ~ - .:.- ~, ~'~ This project provides a many positive benefits for-the organiza#ions such as: Sustalnalbllfty -The revenue generated from the rent rol! will reduce the H~ausing departments dependency on grants e.nsurirtg the future of the Housing Department. The rents are modest, but are a start tv self sufficiency. Asset -This project will create a tangible asset for the organization that will appreciate in value. After the HDME funds twenty (20) year affordability period expires and the 2p year permanent financing deb# 'is repaid the property will be a free and clear asset for the agency. Product Dirversity- NCCA,4 reputation is as a single family home developer and this project provides an opportunity for NCCAA to diversify. "Affordable Housing" not only consists of single family, but multifamily as well- and because of the small scale of this project it is an excellent opportunity for a first mul#i family project. Positive Image- By being proactive about addressing a need for housing for people with physical disabilities we are creating a positive image in the community for the agency. -_' s M~nrkehest A: Sourcesand tlaa&of Funda f~lease.~~e iMomiell0n Ir! 1he bald oua?1ed'boxes a[dy. Expel will eutOmBfltally tpmgrl9 tFse remaining cells. fVame of OlgaNzatialr: Nuacas Counly Ebmmunily 11c1ion ugsncy Name of:PmJact Houston sve.f Rrojtrct Humiaer.ofR&aidsngaf Un6~ Tofal Reaiden8bftquara°fuofapp.i 8, 50 Tatel aqusra Tsiorapa.: 8;250 ,...... 2i"UE10 '~ ' ~Oaa ,. .. ,3.02SS '' 3 4 UiOp ,.- :.: 1'' ' ;;,3:OfpG :.. ...3<O~i . 3.4 SOn`OAFI~ ~ ' . ,ry%i 56:2196 0 98 5.000 . 429 11,4396 . 0.8 4 0;00% 0.0. O O,DOl6 O.D 0 0:00!6 0-0 14;000 ' 1.429: 1:Oq% 1;6 !! ti'...- ,,,:813~1,iG0s . ,~7.`5~~, , _ $9. 9'r : 88:1, 1;z~'a i.r~. ~s 0 0,0096 O:fl o. a.sa96 a.o D D.n4% D:o 1,200. 1~1 , a.~x96 0.z 4 n.no9c a:a 0 4.00% 0,p '~~ 13,2fl0 1.866 1:90905 2.1 0:Da96 0.0 0 0,0096 0.0 0 O.OD96 0.0 0 0:0076 0.n aap s~ 0.0896 a.1 45 B 0;0186 0.0 3500 5n0, 0:6a96 a:6 0 13:0096 0:0 8 0'.0096 0:0 n 0.00% 0:4 o D_oc96 a.4. ~sts 3,9x5 3sa o.~96 D:s 0.~-96 a:4 z,za8: ~ D;s39ti a.4 200 29 o:as96 D.o ~0: 88 0,0995 0,1 {1 OOD% 0.0 0' 0:0096 0.0 0. 0:0096 0.0 tea- . "~~ oo a.1 o n.o496~ a.4 a ?a• D.n 0 O.D096 a.0 RGY 3.588 818 4.5296 0.8 © OD'k O.LI 0 4,00"A 0.0 0 0.00% 0,0 4 o.an96 a.4 'gs a o o.~% D.D n 0.00°!'a 0,0 31.290 4, 4,4896 5.4 10.400 1,42!3; 7.49X L6 _ _ 61;98$, . .. >9:88$~ „8=91SL . - 9.8 is ,.., ,... .: w. .. .....~ :. ; .:... ~ ~. .... rr `' i . I A F- +F SECTIDN 2. St3t?RCEB OF FLM1t)S For natYprip a~an2atrOq-0W16'fy real eaYate (5eerfon R . flJ orlionteotMiersblp davefopmeM (secCmnB.E). fdentky a4sowces of~linanc! ~9, - - - . .. __ 3. i-oansidebrred @nancing Amon.` ' . _ (,part 9ouree of Loan Loan hriarest In Monthly riots any at>ecifla~epn~tiarls,related to'finanting Rmount Rate Ysets Pmt __ (f.e., Wittts, tielfe[ile3nleer+~rt_..i~ t Bank i.oan .__ _ Subtotal Loans 2. Giants 6095 or ~. Equity SN ~m~ N Gns dli. Cmnr Equity NCGAA - l.aplial Ni borWorka niil4Ylll 29.O1M1 35.000 5ublatai Equty 56:QQ0 ~-"~ Note any'spec'die tunditiorta related to Equity (i.@.. ispayment out otce6A flow, uPOlt.sal9rt3tC.y EgUi inuestmant E uit in+esimeitt ! Ra and aRer bank ban is com -eta Total 8tiurci:s'oi permanent Funds _ '..: _ :685;P96:. a ~1 C. V r V b' ~ e ~ ,_ ~ a ViFarksheet B: Proporty Iprotne.Budget Name afOrganlzatian: tdueces County Community Action Agency Name ofFroJec#: Houston~treet Project For each rentaPtype; provide at! infgrmation. Please change.lncorrre categories as needed. Unit Type: 0 Bedroom; 1 Bedroom: 2 Bedroorrm; 3 8edroam: 4 8edroam: Site ~l~,anager Subtotals: Total Unit 4~'iJn7ts at-ar Tentat:ar Trttal'IGlori~ly < $t]"!a WWii . ~ 84°6 11uY F~ent " 3 $ 525. $ 1,576 ~ $ 625 $ 2;500: # Units St ;: I~etat at or Tofat irAotafhly a~ ~ Markei; . c:1l~arket „ Rent ~' i -x,075-' 7 Total F2esidenti'ai income.: Mlsceilaneous Income Monthly income Total ~ros~s ~ncame, year-one; " Residential income is net of any applicable utility allowanee. $0 4~,~0' ~" l2 ...: _.. _~_. _.. :. ,: Y.:..:. ~~ t t 9 i C: Property Operetng Budget Name of grganlzation: Name of Project: Residerr>tial Income II<C/below 80"k AMt Markel Rata GroaReddentiallrtCOme Vacancy 1 bad debt' At/6elow 80% AMI Market Rate Miscellaneous income Total Vacatrey ! ball debt iott TOTAL EfFECTIVEGROSS INCOME OPERATING k71PENBE3 Heal Estate Taxes Insurance Legal Monittxircgloompliarxe Accouniktgraudit Malrrtenanee ~ materials Payrnil Repairs Gas Eiectiic Water $ Sewer Ger6age ramotiai Supplieslpest control E le+stor Maintenancelrepair Per Wa7/yr tET OPERATING INCOME Operating I°xpenses as a percenfege d Elfeciltre Gross lncame lebt service (from below) fat CashBow kbt 5ervlea Coverage Ratio RaslderN organizing $ training Raptecamant reserves ^peraling reser+,as Total Opsratlng l3tpansea 11 ParL4nif/yr ?er Sq. ,!"t~yr arr.l`xpensesas a p~cenraga ofENecrAre Grass Incavne 'NET OPERATING INCOME gebt service (see below) Net Cashflow Debt Service Coverage Ratio t~EBT st~xvlcE Loan One Loan Two EsNmatad value of completed real eatabe Login-to-Value Ratio Ntteclas Count ammun Heustgrp fleet Prciect ~. ~ :1 InBaWr, Year 9. Year 2 Year 3 Year 4 ll 1) ~~~ 49,359 49;5&3 50,382 Loss late: .. 7. _. % Residential 3. ,457'j ,A927 3,527 o tr {3423) (3:t57~ (34827 (3527] 545,477 ~i45,8 548;391 546.1155 ~-ReassnaArhan~l'e0rre+6~flak~rsheve6ee.7clrar~O'/rarti~,Y 4:548 4: 4, ,685 ° 0 0 ,!1811 2,1 2,25Li a n o d 541 58 1, 1.fl40: 1.125 o p o 2:a 2, z. 1 ;. 2,431 515 i 515 5 69 595 1. ~ 1,350 1 ~ ~ 9} 0 0 1; 1, 7 7 16,33$ 18;790 77,26 ;~ 588- 1 ;584 34.9695 35.6796- 36.1 B96 36.8496 't3,3?8 13,328. . 93.328 13328 78,231 . 161268 16.273 16';286 2.1!2 Z~Z 2.22 222 ~' 0. ; 0 1. ' :, 1'. i. 1:000 ~;..._ ` . ~ ..., ;8~ 508 ~,>~ 4D.45% 41.11196 47.58% 42.18% S27Gli7f! 527,096. 521,181 (27.094 13;321! Y3338; 13,328 98,325 13;751> 13,768 13773' 13,766 2• 2:03 2.03 2,eg ilnci mtltr tlavmerrt 4oan mrr;e tnan:Four ~ - Provide a value loaf a coiis~aratlotre fen er m use to unr7ererite'rhe poiHet. i3 E ,., s yHorksheel C: Properly Operating Budget Name of Organizatirn: Name of Project: Residential Income Atlbetow 80% AMI Market Rate Gross Residerdiatlecoene Yacanty 1 bad debt Atlbelow81195 AMI "' Market Rate Miscelfaneousfntarae Total Vacancyl6addebt loss Nueces County C~nmunity Action Agency Houston Street Pro~ct Year 5 Year 6 Ynar 7 v x n veg. o vim. ~ n 56,88fi 51,394 51,908 52,0.27 52,952 53,481 0 0 0 9 0 0 50,886 51,394 57,968 52,427 52,952 53,481 (3,562) (3.598) (3.634) (3,670) (3,707) (3,744) v 6 6 9 0 0 (~) (3598) {3634) (3670) {3707) (3744) TOTAL EFFECRV#: GROSS iNC041E :47,324 547,797 348,275 548,757 549,245 549,738 OPERATING EXPENSES Ir>salor anagement. 96 EGL Rest Fstat6 Tawes insurance lagai ltanflaringicortrpfiance Accorming7aud~1 MaarOenaatoe Z; materials Gas Eier3dc Waters Sewer renianrat Supl~~~ Bevalar Matrgenancalfrepair Subtotal Operating Expenses Per thrl/yr 4, 4, Btl 4,827 4,876 4,825 4,974 0 0 33 0 2.53 0 2,032 0 , 37 0 2 7 a o 6 ti v v v v v 4 585 6oti 633 stia 684 7iz 4. 1,170 1,217 1,265 1,316 1,369 1,423 0 0 0 0 0 0 5.0 1. 2.553 520 2,680 520 2,814 531 2,855 536 3,103 541 3,258 547 095 520 526 .531 536 541 547 1.009° 520 52fi 531 538 541 547 1,404 1,460 1,518 1,579 1,642 1, 1 t,3 1 0 106 1.51. 0 190 18 58 6 2,278 18, 5 v 19,333 o 19,901 v 2 20,491 NEf OPERATING iNCOM~ OParalin8 F~e+rsesas a verge o1e Glass hwnma t?elat service {imm belay Nei {;astllow Dot Service CoArerage Ratbo . 9.573 538 5,403 9,344 47 37.5195 38.2096 38.9196 39.C>.996 40.4196 41.2096 13.328 13,328 13,328 13,320 13,328 13,328 16,245 16,210 16,151 16,097 16,016 2.42 2.22 . 4~1 2.21 4Z{I ' ~ 0 0 0 0 4 0 EZesidenl arganidr~ R b'aitnirne 0 0 0 0 0 Ftepleternentreserves 1,500 1,500 7.500 1,500 1,500 1.500 OpereGrng reservr's 1,000 1,000 1,000 1.000 1,000 1.000 00ner ( 0 0 0 0 0 0 Other F.xperxses 2,590 Tote! Operafirta F~gnanses 20,257 2,500 20,758 2.500 27,285 $500 21,833 2,500 22,401 2.500 22,991 AN Farperues as a perceorlfa~go- d~etfire Grass Income NEf OPERATING iNC00tE Debt service (see below) Nel Castilwr Debt Service Coverage Ratio DEBT SERVICE [car One l.~n T~ Estimatcd value o[ cgnpleted real estmM L.oarrto-Value Ratio 42.7996 43.4396 44.x996 44.7896 45.49% 46.?.296 527.073 127.038 526,989 ~ 326,925 126,844 ;'[6.747 13,328 13,3218 13,328 13,328 13.328 13.328 13,745 13,710 13 fi61 13,997 13,516 13,419 4.03 2.03 2.83 2.02 2A1 2.01 i4 ~. _~ F; ~~ 9 ~ ~ ~+ ti 5023 5,074 5,124 5,176 5,227 0 0 ~ 2,960 3,0.79 3„2D2 3.330 3 0. 0 D 0 , 0 0 7 ~ 8<17 D 866 1:480 f,539. ,BOIi' 1,665 : 1.752. 0~ 0: p 9 ~ 3:~R:.. ;5. 3:77,. . ~i)50~ 4,159 ~ ~ 552 558 563 569 575 575 SSB ~' S 575 1.776 7.84T ;921- 1,9~. 2.079 1,381 '!:: i,409 1,423 1,437 9 ~ 2:664 3, - ;862 2.997 117 3 21,103 34!710 ;46'I. 28, . 28,2 ,1a1 ~a~r' .: ;es~: 72 41;0145. _ 42:9595 43:T'15y, 44.6A95 45.53% 13,328: 13:328 1,9;328. 1.3,3`18' 13;328- 15,843 . 19;86:8 T5;51.5` 15;34'i; ~ 2:19 2.s~e z;~e 1.93 ~ u o 0 9 D 0" p D 1,590 1:5 1; 1,50D 1,500 1,00D 1, '1;000 1..000 . 1,ODD 0 9, 0 0 2'~ 2'~ $'500: 2,500 28:608 34,240 2 901 2S,6B0 26,302 49.99% 47.78% 48.59% 49,4485 59.32% S26,S31 ~i26;497 . 1284343 328.4$8 X25 972 13,329 13,328 73,318 13:328 , 13,329 73:303 73,189 13;015 12,841 1'2:644 2:00 1:99 7.88 1:98 9.85 1.5 . -. ... ,. ;. ., '' HOME Rent Limits .2:0.9 Effect~vs Date. arz7r2aog ~' 15 HOME andCpBG Rent Limits effective: 4127J2(lD8 EXHIBIT B COVENANT TO BIND PROPERTY FOR PERIOD OF AFFORDABILITY STATE OF TEXAS § COUNTY OF NUECES § KNOW ALL BY THESE PRESENTS: Pursuant to a second amendment ( "Second Amendment ") to the FY05 and FY06 HOME funding agreements ( "Agreements ") entered into between the Corpus Christi Community Improvement Corporation (TCCIC ") and the Nueces County Community Action Agency ( "CHDO "), executed of even date herewith, which Second Amendment is incorporated in this instrument by reference as if fully set out herein ( "Amendment "), CHDO accepted federal funds, in conjunction with the United States Department of Housing and Urban Development's Home Investment Partnership Program ( "HOME Program ") administered by the CCCIC, for new construction of residential affordable housing units on the following property: Lots 26 -A & 26 -13, Block 3, Laughlin Addition, an Addition to the City of Corpus Christi, Nueces County, Texas, as shown by the map or plat thereof recorded in the Map Records of Nueces County, Texas, and commonly known by its street address of 3220 Houston Street, located in Corpus Christi, Nueces County, Texas (hereinafter referred to as the "Property"). Pursuant to the terms, conditions, and covenants contained within the Amendment (and related Agreements), as owner of the Property and in consideration of receiving the federal funds, CHDO agrees to bind the Property with the affordability requirements specified in Title 24, Part 92.252, of the United States Code of Federal Regulations, for a period of not less that/ twenty (20) years from the date of completion of construction, such date of completion presently unknown but anticipated to be not. later than November 30, 2011. This instrument constitutes a covenant running with the land and binds all successors, assigns, and transferees of the Property, such Property being subject to this instrument. (EXECUTION PAGE FOLLOWS) Page 9 of 2 P NUECES COUNTY COMMUNITY ACTION AGENCY, a Texas nonprofit corporation • -&- k oe . Martinez, Executtve- Director Printed Name: V �� Date: STATE OF TEXAS $ COUNTY OF NUECES § This instrument was acknowledged before me on the day o 011, by Joe A. Martinez, Executive Director of the Nueces County mmuni Ac on Agency, a Texas nonprofit corporation, on behalf of the corporgtiqRv�,, _ if LAURISA LYNN BAKLIK _ Notary Public, State of Texas �. MY Commission Expires NO RY PU l_IC March 09 2011 STAT F TEXAS / AFTER RECORDING, RETURN TO: / Corpus Christi Community Improvement Corporation V Attn: General Manager Doc401004778 r Pages 2 c /o , NSD -- Community Development Division 02/0912012 10:07AM P. O. Box 9277 O f f i c i a l Records or NUECES COUNTY Corpus Christi, Texas 78469 -9277 DIANA T. BARRERA COUNTY CLERK Fees $19,00 Ans Provision herein Which restricts the Sales Rental or use of the described REAL. PROPERTY because of Racer Colors Religion, Sexr Handicaps Familial Statusr or National Origin is invalid and unenforceable under FEDERAL i_AWP 3/12/89. STATE OF TEXAS COUNTY OF NUECES I hereby certify that this instrument was FILED • it file number sequence on the date and at the time stamped herein bs mer and Was duly RECORDED in the Official Public Records of Nueces Countas Texas Diana T. Barrera Page 2 of 2