Agreement - Hurry Home - Home Ownership Financing Program

Home Browse Search

c. Home Owner's Insurance Subsidy. Seven Thousand Dollars ($7,000.00) shall be used to pay a Qualified Purchaser's home owner's insurance on a Qualified Home for the first year. d. Credit Check Repayment. Three Thousand Dollars ($3,000.00) shall be used to refund the out-of-pocket cost to a Qualified Purchaser for any credit or background check performed by Hurry Home or a participating investor if such Qualified Purchaser does not purchase a Qualifying Home within three months of entering the Hurry Home program. S. RECORDS, REPORTING, AND AUDIT RIGHTS, Hurry Home shall maintain records related to all transactions involving the Total Donation Amount for as long as such funds remain available for use. From time to time, the City, through its City Controller or her designee, may request reports from Hurry Home detailing the expenditures under the programs set forth herein, as well as the repayment histories of any Qualified Purchaser receiving funds derived from the Total Donation Amount. Additionally, the City reserves the right to audit the financial records of Hurry Home, and Hurry Home agrees to cooperate with the City during such audit, provided that any audit initiated by the City shall occur only during normal business hours. 6. DEFAULT AND CLAW BACK. In the event that any of the Total Donation Amount is not used as set forth in this Agreement, or to the extent that any of the Total Donation Amount is found not to have been used for the benefit of Qualified Purchasers to acquire Qualified Homes, then Hurry Home shall be in default of this Agreement, and the City shall have the right to demand in writing repayment of that portion of the Total Donation Amount deemed to have been distributed in violation of this Agreement. Hurry Home shall immediately repay such funds to the City upon such written demand. 7. INTELLECTUAL PROPERTY. The City grants Hurry Home a non-exclusive, non- transferable license to use the City's logo on Hurry Home's website and marketing materials indicating the City's support of Hurry Home's mission, provided that, the City shall have the right to review any such use of its logo prior thereto. The City shall have the right to revoke this license at any time and for any reason upon written notice. At such time, Hurry Home shall immediately cease using the City's logo and shall destroy any marketing materials containing such logo. 8. LEAD -BASED PAINT. Notwithstanding any other provision of this Agreement, Hurry Home shall comply with the regulations of 24 CFR 570.608 and all applicable rules and orders issued thereunder which requires notification of lead -based paint hazard to purchasers as prescribed. 9. EQUAL OPPORTUNITY NONDISCRIMINATION AND COMPLIANCE. Hurry Hoare shall comply with all applicable laws and regulations in its hiring and employment practices and policies for any activity covered by this Agreement.