HomeMy WebLinkAboutIowa Department of Economic Developmnet - Master Contract Amd No. 2 - 5.8.2006 December 31, 2008
The Honorable Timothy Hurley
Mayor, City of Waterloo
City Hall - 715 Mulberry St.
Waterloo, IA 50703
SUBJECT: Master Contract Number 06-HM-126
Funding Agreement Number 06-HM-126-69
Amendment Number 2 Amendment Effective Date December 31,2008
Dear Mayor Hurley:
The Iowa Department of Economic Development(IDED)hereby amends the above referenced HOME
Investment Partnership Program contract by extending the funding agreement expiration date.
This amendment is in response to your request dated December 16, 2008.
The contract by and between the Iowa Department of Economic Development("Department or IDED")
and Waterloo ("Recipient") is amended as of the date shown above as follows:
AMEND Article 1.1 TIME OF PERFORMANCE by revising the expiration date and extending the
performance period to December 31, 2009.
Except as otherwise revised above, the terms, provisions, and conditions of the Master Contract and
Funding Agreement remain unchanged and are in full force and effect.
PLEASE FILE THIS AMENDMENT MATERIAL WITH YOUR ORIGINAL CONTRACT
DOCUMENT so that you will have current information on the status of your contract. If your
amendment includes a budget change, be sure that is reflected on your next"Payment Certification"
request. Please contact me at(515)242-4850 if you have any questions.
Sincerely,
O
Ter D. Vestal
Project Manager RECEIVED JAN 0 BIN
cc: Nancy Gulick, City of Waterloo
Fiscal
File(TV) ,
�i lar /a
Chester J.Culver,Governor IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT PattV Judge,Lieutenant Governor
Mike Tramontina,Director a 200 East Grand Avenue,Des Moines,Iowa USA 50309 Phone:515.242.4700 0 Fax:515.242.4809 *, vw w.iowalifechanging.com
r
_21 IOWA HOME PROGRAM SCHEDULE
EXHIBIT A
Tf3BE FII:LEU IN BY IDED
NAME OF RECIPIENT: WATERLOO
321G►NAL .
AGREEMENT#: 06-HM-126-69 1131UMNlr?I, 2.
FC1Il Eai1TE; IZJ312008:: ::
Activity:AMERICAN DREAM DOWNPAYMENT INITIATIVE(ADD)69
1 OESCRIPTI4N
Provide downpayment assistance to low income,first-time homebuyers purchasing newly constructed single-family,
single-unit residential dwellings in a target area of the City of Waterloo.
Activity:
Activity:
WORK: : '. :AFI?OIRDARILITY
Activity:AMERICAN DREAM DOWNPAYMENT INITIATIVE(ADDI)69
Provide downpayment assistance to ten(10)low income,first-time homebuyers. CO
12-31-09 5 years
Activity: (HOME
Investment of
less than
$15,000)
Activity: 10 years
(HOME
Investment of
$15,000 to
This homeownership assistance activity is subject to the recapture provisions found in 24 CFR Part 92.254(a).The City of Waterloo must $40,000)
ensure,through its forgivable loan documents used to assist individuals under this Master Contract and Funding Agreement,that,upon the
sale of HOME-assisted homeownership housing before the close of the required affordability period,the City of Waterloo must recapture
the original HOME subsidy provided to the assisted homebuyer,unless the net proceeds are insufficient.The recapture amount must be
based on an amount less than or equal to the net proceeds of the sale. If the net proceeds of the subsequent sale are insufficient to
recapture the full HOME investment,the net proceeds of the sale may be shared between the homeowner and the City of Waterloo in
accordance with 92.254(a)(5)(ii)(3).
T
.....U
HOME FUNDS TOTAL ELIGIBLE
ACTIVITY SOURCE OF FUNDS FEDERAL STATE OTHER ACTIVITY HOME MATCH
FUNDS FUNDS FUNDS BUDGET FUNDS
ADDI 69 HOME(ADDI) $100,000 $0 $100,000
City HOME
e i 00,000 $100,000
TOTAL ALL FUNDS $100,01)0 SO $100,000 $200,000 $0
*Explanation of match items:
g:\projects\bcf\recipients\home\HomeExhibitA.xis
April 8, 2008
The Honorable Timothy Hurley
Mayor, City of Waterloo
City Hall -715 Mulberry St.
Waterloo, IA 50703
SUBJECT: Master Contract Number 06-HM-126
Funding Agreement Number 06-HM-126-69
Amendment Number 1 Amendment Effective Date March 21,2008
Dear Mayor Hurley:
The Iowa Department of Economic Development(IDED)hereby amends the above referenced HOME
Investment Partnership Program contract by extending the funding agreement expiration date.
This amendment is in response to your original request dated February 26,2008 and subsequent
correspondence from Nancy Gulick, Community Development Coordinator dated March 21,2008.
The contract by and between the Iowa Department of Economic Development("Department or IDED")
and Waterloo("Recipient")is amended as of the date shown above as follows:
AMEND Article 1.1 TIME OF PERFORMANCE by revising the expiration date and extending the
performance period to December 31,2008.
Except as otherwise revised above,the terms,provisions, and conditions of the Master Contract and
Funding Agreement remain unchanged and are in full force and effect.
PLEASE FILE THIS AMENDMENT MATERIAL WITH YOUR ORIGINAL CONTRACT
DOCUMENT so that you will have current information on the status of your contract. If your amendment
includes a budget change,be sure that is reflected on your next"Payment Certification"request. Please
contact me at(515)242-4850 if you have any questions.
Sincerely,
RECEIVED APR4 0 r 0
T D. Vestal
Project Manager
cc: Nancy Gulick,Waterloo Community Development
Fiscal
File(TV)
IOWA DEPARTMENT OF ECONOMIC D EVECO PMENT
200 East Grand Avenue,Des Moines,Iowa 50309 USA " Phone:515.242.4700 Fax:515.242.4809 www.iowalifechanging.com
IOWA HOME PROGRAM SCHEDULE
EXHIBIT A
TQ BE FIIIED ILV'B3(ID1�D;'': ::
NAME OF RECIPIENT: WATERLOO
iClLI�;tNAi
AGREEMENT#: 06-liM-f26-(i9 LTkC1'IYFDATE Zt2GlOQ3
Activity:AMERICAN DREAM DOAINPAYMENT INITIATIVE(ADDI)69 17777.7
PT06de downpayment assistance to low income,first-time hornebuyers purchasing newly constructed single-family,single-
unit residential dwellings in a target area of the City of Waterloo.
Activity:
Activity:
PE>tt;t+'ORNJANC�TA
A U k t
Activity:AMERICAN DREAMT DOWNPAYMENT INITIATIVE(ADDI)69 .COIPTUl .. . Cn1pLI�11Ci
Provide downpayntent assistance to ten(10)low income,first-time homebuyers. '.bpj :'.
12-31-05 5 years
Acti6ty:
(HOME
Investment of
less than
$15,000)
Activity: 10 years
(HOME
Investment of
$15,000 to
$40,000)
This homeownership assistance activity is subject to the recapture provisions found in 24 CFR Part 92.254(a).The City of Waterloo mus
ensure,through its forgivable loan documents used to assist individuals under this Master Contract and Funding Agreement,that,upon the
sale of HOME-assisted homeownership housing before the close of the required affordability period,the City of Waterloo must recapture the
original HOME subsidy provided to the assisted homebuyer,unless the net proceeds are insufficient.The recapture amount must be based
on an amount less than or equal to the net proceeds of the sale.If the net proceeds of the subsequent sale are insufficient to recapture the
full HOME investment,the net proceeds of the sale may be shared between the homeowner and the City of Waterloo in accordance with
92.254(a)(5)(il)(3).
...0 ;.
HOME FUNDS N100,000
ELIGIBLE
ACTIVITY SOURCE OF FUNDS FEDERAL STATE OTHER HOME MATCH
FUNDS FUNDS FUNDS FUNDS
ADDI 69 HOMF.(ADDF) 5100,000 50 City HOME 5100,000 :::
TOTAL ALL FUNDS $100,000 $0 $100,000 $200,000 $p
*Explanation of match items:
g:\projects\bcf\recipients\home\HomeExhibitA.xis
IOWA HOME PROGRAM SCHEDULE -�
EXHIBIT A
T4BEFILLED IN B1'IDED.:: .:'
NAME OF RECIPIENT: WATERLOO fJRIGINAL X
�I�lENri1uI�Nx_�
AGREEMENT#: 06-11KI-126-fig EFFI,CTIYE DATE 31291"6Q6;;
u.:.: :. :..::.:.::.
�iCTL.ATX A�$�R�PTiO�'
Activity:AMERICAN DREAM DOWNPAYMEN 1 INITIATIVE(ADDI)69
Provide downpayrnent assistance to low income,first-time homebuyers purchasing newly constructed single-family,single-
unit residential dwellings in a target area of the City of Waterloo.
Activity:
Activity:
>2F
PIOIiMANC .......RGExS ..... ..ITY
Activity:AMERICAN DREAM DOWNPAYMF;NT INITIATIVE(ADDI)69 COMI'LI TIOl� CON#PI IANCE
Provide downpayment assistance to ten(10)low income,first-time homebuyers.
3-31-03 5 years
(HOME
Activity:
Investment of
less than
$15,000)
10 years
Activity: (HOME
Investment of
$15,000 to
$40,000)
This homeownership assistance activity is subject to the recapture provisions found in 24 CFR Part 92.254(a).The City of Waterloo mus
ensure,through its forgivable loan documents used to assist individuals under this Master Contract and Funding Agreement,that,upon the
sale of HOME-assisted homeownership housing before the close of the required affordability period,the City of Waterloo must recapture the
original HOME subsidy provided to the assisted homebuyer,unless the net proceeds are insufficient.The recapture amount must be based
on an amount less than or equal to the net proceeds of the sale.If the net proceeds of the subsequent sale are insufficient to recapture the
full HOME investment,the net proceeds of the sale may be shared between the homeowner and the City of Waterloo in accordance with
92.254(a)(5)(i i)(3).
AMOU
1V I
HOME FUNDS TOTAL ELIGIBLE
ACTIVITY SOURCE OF FUNDS FEDERAL STATE OTHER ACTIVITY HOME MATCH 'k
FUNDS FUNDS FUNDS BUDGET FUNDS
ADDI 69 HOME,(ADDI) $100,000 $0 $100,000
City HOME $100,000 $100,000
TOTAL ALL FUNDS $100,000 $0 $100,00011 $200,000 1 $0
*Explanation of match items:
g:\projects\bcf\rccipients\home\HomeExhibitA.xls
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
HOME INVESTMENT PARTNERSHIP (HOME) PROGRAM
MASTER CONTRACT
HOME MASTER CONTRACT NUMBER: 06-HM-126
CONTRACT EFFECTIVE DATE: March 29,2006
RECIPIENT: Waterloo
THIS HOME INVESTMENT PARTNERSHIP (HOME) PROGRAM MASTER CONTRACT is made by and between the IOWA
DEPARTMENT OF ECONOMIC DEVELOPMENT, 200 East Grand Avenue, Des Moines, Iowa 50309 ("Department" or "IDED") and the
Recipient.
WHEREAS,the Department is designated to receive,administer,and disburse HOME funds;and
WHEREAS, the Department desires to disburse HOME funds to the Recipient for the purpose of promoting affordable housing in Iowa,
and achieving an adequate supply of affordable decent,safe,and sanitary housing for low-income Iowans;
NOW,THEREFORE,the Recipient accepts the terms and conditions set forth in this Master Contract for any and all subsequent Funding
Agreements funded with the funds identified herein. In consideration of the mutual promises contained in this Master Contract and other good
and valuable consideration,it is agreed as follows:
ARTICLE 1
DEFINITIONS
As used in this Master Contract,the Funding Agreement(s),and Related Document(s)the following terms shall apply:
1.1 ACT. "Act"means the National Affordable Housing Act of 1990(NAHA)as amended(42 U.S.C.5301 et seq.).
1.2 ACTIVITY. "Activity"means the detailed description of the work,services,and other accomplishments to be performed by the Recipient
as described in the Funding Agreement and the Recipient's Approved Housing Fund Application. An Activity may contain one or more Projects.
1.3 ADDI. "ADDI"means the American Dream Downpayment Initiative,Public Law 108-186.
1.4 APPROVED HOUSING FUND APPLICATION. "Approved Housing Fund Application"means the Recipient's application for HOME
Funds for the Activity covered by this Master Contract and its Funding Agreement(s)in the form approved by the Department.
1.5 CONTRACT EXPIRATION DATE "Contract Expiration Date" means the date the Master Contract ceases to be in force and effect.
The Contract expires upon the expiration date of all Funding Agreements covered under this Master Contract. The date the Funding Agreement(s)
and this Contract expires is determined in accordance with Article 1.1 and Exhibit A of the Funding Agreement(s).
1.6 EFFECTIVE DATE. "Effective Date"means the date the Master Contract and any Funding Agreement takes effect. The Effective Date
is designated at the beginning of this Master Contract and any Funding Agreement(s)executed in conjunction with this Master Contract.
1.7 ELIGIBLE COSTS. "Eligible Costs" are those costs which are summarized in each Funding Agreement's Iowa HOME Program
Schedule, Exhibit A; and consistent with federal regulations and guidelines applicable to the HOME program, especially as defined at 24 CFR
92.206.
1.8 FUNDING AGREEMENT. "Funding Agreement" means a separately executed document referenced in this Master Contract which
contains information,terms and conditions pertaining to each Activity of this Recipient funded with HOME funds.
1.9 FUNDING AGREEMENT EXPIRATION DATE. "Funding Agreement Expiration Date" means the date a particular Funding
Agreement ceases to be in force and effect. A Funding Agreement expires upon the occurrence of one of the following: a) the Recipient complies
with all requirements of the Funding Agreement,including the affordability requirements as provided in the Federal regulations at 24 CFR 92.252 or
24 CFR 92.254; or b)the Funding Agreement or Master Contract is terminated by the Department due to any default under Article 8 of the Master
Contract; or c) terminated in accordance with provisions set forth in Sections 6 and 7 of the General Provisions, Attachment A of this Master
Contract.
1.10 HOME. "HOME" means the HOME Investment Partnership Program created under the National Affordable Housing Act of 1990
(NAHA).
Contract Number:06-HM-126
Page 2 of 14
1.l 1 HOME FUNDS. "HOME FUNDS"means funds awarded to the State by the federal government under the HOME Investment Partnership
Program.
1.12 HUD. "HUD"means the U.S.Department of Housing and Urban Development.
1.13 MASTER CONTRACT OR CONTRACT "Master Contract" or "Contract" means this Master Contract and all of the notes, leases,
assignments,mortgages,covenants,and similar documents referred to in this Master Contract and all other instruments or documents executed by the
Recipient or otherwise required in connection with this Master Contract, including the HOME Funding Agreements, Related Documents, and
Approved Housing Fund-Applications together with any related submittal documents.
1.14 RECIPIENT. "Recipient" means the entity identified above that has been selected to receive HOME Funds and to undertake the funded
housing activity.
1.15 RELATED DOCUMENTS. "Related Documents"means all documents executed as part of the Department's provision of HOME Funds
to the Recipient in accordance with this Master Contract,including Promissory Notes,Mortgages or other instruments executed to secure repayment
of HOME Funds to the Department,and Agreements for Covenants and Restrictions.
1.16 TERM OF AFFORDABILITY "Term of Affordability"means the period of time during which the housing assisted through this activity
is rent-restricted,or the occupants of such housing are income-qualified. This period is specified in 24 CFR 92.252 (Rental) and 24 CFR 92.254
(Homeownership).
1.17 WORK COMPLETION DATE "Work Completion Date" means the date identified in Exhibit A, Program Schedule of the Funding
Agreement upon which an Activity being funded through a HOME Funding Agreement shall reach its physical completion.
ARTICLE 2
FUNDING
2.1 FUNDING SOURCE. The source of funding for Activities funded through this Master Contract and its Funding Agreements is a federal
appropriation for the HOME Program and/or a federal appropriation for the ADDI program through the U.S. Department of Housing and Urban
Development(HUD).
2.2 RECEIPT OF FUNDS. All payments under the Master Contract and the Funding Agreements are subject to receipt by the Department of
sufficient federal or state funds for the HOME program. Any termination,reduction or delay of HOME funds to the Department shall,at the option
of the Department,result in the termination,reduction or delay of HOME funds to the Recipient.
2.3 PRIOR COSTS. No costs incurred prior to the Funding Agreement(s)Effective Date may be included as Eligible Activity costs for the
purposes of this Master Contract,its Funding Agreement(s),or related documents.
2.4 DISBURSEMENT OF LESS THAN THE TOTAL AWARD AMOUNT. If the total amount of funding for a particular Activity has not
been requested by the Recipient within sixty(60)days after the Funding Agreement's work completion date,then the Department shall be under no
obligation for further disbursement for that Activity. Upon the submission of a Payment Voucher for a particular Activity marked as final, and the
disbursement of funds requested by that Voucher,any remaining funds for that Activity shall no longer be available.
2.5 ORDER OF DISBURSEMENT OF GRANT AND LOAN AWARD. Under a Funding Agreement which contains both grant and loan
funds,the loan funds shall be considered disbursed first,with the grant funds disbursed after all loan funds have been disbursed.
ARTICLE 3
ACTIVITY REQUIREMENTS
3.1 AFFORDABILITY REQUIREMENTS Any Activity assisted under this Master Contract and its Funding Agreements shall meet the
affordability requirements of 24 CFR 92.252(Rental)or 92.254(Homeownership),as applicable. Noncompliance with the referenced affordability
requirements shall constitute cause for IDED to seek immediate repayment or recapture by the Recipient of all or a portion of HOME funds invested
by IDED in the Activity. Repayment or recapture shall be made first to the Recipient's local HOME Investment Trust Account and then to the
Department's HOME Investment Trust Account.
3.2 PERFORMANCE TARGETS The Recipient shall accomplish the activities and performance targets as described in the Funding
Agreement's Exhibit A, "Program Schedule, and as further elaborated in the Funding Agreement's Approved Housing Fund Application by no later
than the Work Completion Date.
3.3 CALCULATION OF PROJECT COMPLETION. The Department has the final authority to assess whether the Recipient has met its
performance targets described in the Funding Agreements, Exhibit A, by the Work Completion Date. The Department shall determine completion
Document prepared by:Terry Vestal
HOME Master Contract
Format Approved February 2006
Contract Number:06-HM-126
Page 3 of 14
according to the performance targets set forth in the Funding Agreement's Exhibit A, "Program Schedule." The Department reserves the right to
monitor and measure at any time during the Master Contract term the achievement of the performance targets.
3.4 ENFORCEMENT PROVISIONS The following means of enforcement shall apply to each identified form of Activity assistance, and
shall be binding on the Recipient when a Funding Agreement is executed for that type of assistance. Additional provisions may be included as a part
of a Funding Agreement.
(a) OWNER-OCCUPIED REHABILITATION Any owner-occupied property assisted with HOME funds shall have placed upon it
recorded financial security instruments,as approved by the Department,protecting the investment for the benefit of lower-income persons
in accordance with 24 CFR 92.254(b)(2).
(b) RENTAL HOUSING. Any rental housing property assisted with HOME funds shall have placed upon it recorded financial security
instruments insuring compliance with the occupancy restrictions of 24 CFR 92.216 and the rent restrictions of 24 CFR 92.252,with the
effective term of said instrument in accordance with 24 CFR 9,2.252(e).
(c) HOMEOWNERSHIP. Any property assisted under the homeownership activity shall have placed upon it recorded financial security
instruments, as approved by the Department, insuring compliance with 24 CFR 92.254 (a)(5)(i)or 24 CFR 92.254(a)(5)(ii),and with the
effective term of said instrument in accordance with 24 CFR 92.254(a)(4).
(d) TENANT BASED RENTAL ASSISTANCE Any Tenant Based Rental Assistance project assisted with HOME funds shall comply
with the occupancy restriction of 24 CFR 92.216.
3.5 PROPERTY STANDARDS. All housing assisted with HOME funds shall be maintained throughout the applicable Term of Affordability
in compliance with the property standards defined in 24 CFR 92.251, and any applicable state and local housing standards, laws and codes of the
Recipient,as affected by the Activity location.
3.6 ACTIVITY REQUIREMENTS All Activities shall adhere to the requirements found at Subpart F of 24 CFR Part 92 (Project
Requirements),as applicable,in accordance with the type of Activity assisted.
3.7 AFFIRMATIVE MARKETING. The Recipient shall comply with the affirmative marketing responsibilities in accordance with
24 CFR 92.351,as applicable.
3.8 RELIGIOUS ORGANIZATIONS. Religious organizations shall follow the conditions found at 24 CFR 92.257 for the use of HOME
funds.
3.9 ADMINISTRATION. This Master Contract shall be administered in accordance with 261 Iowa Administrative Code,Chapter 25 and all
applicable State and Federal laws and regulations, including the Iowa Housing Fund Management Guide, which has been provided by the
Department to the Recipient. The uniform administrative requirements identified at 24 CFR 92.505 shall apply to all Recipients.
3.10 ANNUAL INCOME CERTIFICATIONS Recipients of HOME funds for tenant-based rental assistance and rental housing shall
maintain records of each tenant's income eligibility at initial occupancy and during the Term of Affordability. The Recipient shall certify each
tenant's rent and income annually to the Department as prescribed in the Housing Fund Management Guide during the Term of Affordability,and in
accordance with 24 CFR 92.203 and 24 CFR 92.252.
3.11 PROPERTY STANDARDS CERTIFICATIONS. Recipients of HOME funds for rental housing shall maintain records indicating that
physical inspections of the rental property are performed as required and at a minimum the rental property meets the property standards at 24 CFR
92.251 and all applicable state and local housing codes during the Term of Affordability. For rental projects with 1 —4 units, inspections shall be
conducted every three years. For rental projects of 5—25 units, inspections shall be conducted every 2 years. For rental projects with 26 or more
units, inspections shall be conducted annually. Recipients of HOME funds for tenant-based rental assistance (TBRA) must inspect the applicable
units at initial occupancy and annually during the term of the TBRA assistance to comply with HUD Section 8 Housing Quality Standards as set forth
in 24 CFR 92.504 and 24 CFR 982.401.
ARTICLE 4
USE OF FUNDS
4.1 GENERAL. The Recipient shall perform in a satisfactory and proper manner, as reasonably determined by the Department, the work
activities and services as written and described in the Approved Housing Fund Application as summarized in the Recipient's approved Funding
Agreement HOME Program Schedule(Exhibit A to the Funding Agreement).
4.2 BUDGET REVISIONS. Activity budget revisions which would result in changes in Other Funds(as defined in section 1.3 of the Funding
Agreement) shall be subject to approval of the Department through the contract amendment process. In no instance shall the Department be
obligated to provide additional HOME funds for an activity or project if the Recipient finds total costs will exceed those identified in the Funding
Document prepared by:Terry Vestal HOME Master Contract
Format Approved February 2006
Contract Number:06-HM-126
Page 4 of 14
Agreement. Budget revisions shall be compatible with the terms of this Master Contract and each Funding Agreement and of such a nature as to
qualify as an allowable cost. Budget revisions requested during the final ninety (90) days prior to the Work Completion Date of each Funding
Agreement will be approved by the Department only if it determines that the revisions are necessary to complete activities and are allowable. The
submission of a final Payment Voucher shall be construed to mean the Recipient has completed work for that Activity,and that funds shall no longer
be available to that particular Activity.
4.3 ADMINISTRATIVE COSTS. HOME funds may be used for costs of administering activities funded under this Contract in accordance
with federal regulations and state rules. Only administrative costs incurred after the Effective Date of the Funding Agreement offering the
administrative funds are eligible for HOME fund reimbursement. The amount of HOME funds which may be used for this purpose are limited to the
amounts specifically identified as administrative funds in the HOME Funding Agreement budget(Exhibit A to the Funding Agreement).
4.4 PROGRAM INCOME—PRIOR TO WORK COMPLETION DATE. Program Income(as defined in 24 CFR 92.2)received by the
Recipient,or other proceeds received as a result of a HOME investment, if received prior to the Work Completion Date, shall be expended prior to
requesting additional HOME funds.
4.5 PROGRAM INCOME—AFTER WORK COMPLETION DATE. The Recipient may retain Program Income(as defined in 24 CFR
92.2)received after the Work Completion Date if a program income re-use plan is filed with and approved by the Department within 90
days of the Funding Agreement Effective Date. Where no approved re-use plan is in place, any program income (as defined in 24 CFR
92.2)received after the Work Completion Date shall be returned to the Department.
ARTICLE 5
CONDITIONS TO DISBURSEMENT OF FUNDS
Unless and until the following conditions have been satisfied,the Department shall be under no obligation to disburse to the Recipient any amounts
under the Funding Agreements issued under this Master Contract:
5.1 MASTER CONTRACT EXECUTED The Master Contract shall have been properly executed and,where required,acknowledged.
5.2 FUNDING AGREEMENT EXECUTED Each Funding Agreement shall have been properly executed and, where required,
acknowledged.
5.3 FINANCIAL COMMITMENTS The Recipient shall have submitted a firm written commitment from each source of funds to the
Activity identified in that Funding Agreement's Exhibit A "Program Schedule." Each agreement shall include the amount,terms,estimated time of
contribution,and conditions of the financial commitment,as well as any schedules. These commitments must be in a form and amount acceptable to
the Department.
5.4 RECORDING. The Recipient shall have properly recorded in the appropriate office of the Recorder of Deeds and/or the Secretary of
State any mortgage,security agreement, financing statement, covenants and restrictions,or similar document required by the Department under this
Master Contract or the Funding Agreements,with all recording charges paid.The original recorded documents must be provided to the Department.
5.5 COMPLIANCE WITH ENVIRONMENTAL REQUIREMENTS Notwithstanding any provision of this Contract, the parties hereto
agree and acknowledge that this Contract does not constitute a commitment of funds or site approval,and that such commitment of funds or approval
may occur only upon satisfactory completion of environmental review and receipt by the Recipient of a Release of Funds from the State of Iowa
under 24 CFR Part 58. The parties further agree that the provision of funds to the project is conditioned on the State of Iowa's determination to
proceed with,modify,or cancel the project based on the results of a subsequent environmental review. It is further understood that the environmental
clearance must be obtained prior to any commitment of funds or the undertaking of any physical or choice-limiting actions, including property
acquisition, demolition, movement, rehabilitation, conversion, repair or construction. This requirement applies to the Recipient, as well as to any
Subrecipient or contractor. Any violation of this requirement may result in the denial of funds under this contract. The Recipient shall comply with
the Programmatic Memorandum of Understanding between the Iowa Department of Economic Development and the Iowa State Historical
Preservation Office,when applicable to any activities included in this Contract.
5.6 PERMITS AND LICENSES. The Department reserves the right to withhold funds until the Department has reviewed and approved all
items,such as permits or licenses from other local,state or federal agencies,which may be required prior to Activity commencement.
5.7 ADMINISTRATIVE PLAN. The Recipient shall establish and adopt a written Administrative Plan for each Funding Agreement. The
Recipient's Administrative Plan shall be on file at the Department within one hundred twenty (120) days of the effective date of the Funding
Agreement it implements. The release of HOME funds for the funded activity shall be contingent upon the Department's receipt of the Recipient's
Administrative Plan and upon satisfactory evidence that the Administrative Plan has been adopted by the Recipient. The Department reserves the
right to withhold funding if it determines that the Recipient's Administrative Plan is not adequate to ensure operation of the Activity in compliance
with the state and federal requirements.
Document prepared by:Terry Vestal HOME Master Contract
Format Approved February 2006
Contract Number:06-HM-126
Page 5of14
5.8 REQUEST FOR DISBURSEMENT The Recipient shall request HOME funds in the format specified by the Department only as needed
for payment of Eligible Costs and shall not have HOME fund proceeds on hand for a period of longer than ten(10)days,after which time any surplus
amount shall be returned to the Department.
5.9 INTEREST Any interest earned on HOME funds within 10 days of receipt shall be treated as Program Income,as summarized in Article
4.4. Any interest earned after 10 days shall be remitted at least quarterly to IDED.
5.10 METHOD OF PAYMENT The Recipient shall draw funds directly from the Department using the procedures and forms identified in
the Housing Fund Management Guide.
5.11 AUTHORITY. If applicable, the Recipient shall have submitted to the Department a Resolution of the governing board authorizing the
execution and delivery of this Master Contract and any Funding Agreements and Notes and borrowing,and such other papers as the Department may
reasonably request;and specifying the officer(s)authorized to execute the documents and bind the Recipient organization.
5.12 CERTIFICATION OF ACCOUNTING SYSTEM. In compliance with Iowa Code section 11.36,Private Agencies awarded a grant in
excess of one hundred fifty thousand dollars shall have submitted to the Department certification from the State Auditor that the Recipient has an
accounting system adequate to effect compliance with the terms and conditions of the grant or contract.
5.13 RESIDENTIAL ANTI/DISPLACEMENT AND RELOCATION ASSISTANCE PLAN APPROVAL. If the Recipient is a unit of
local government,they shall submit to the Department,for its review and approval,a Residential Anti/Displacement and Relocation Assistance Plan
for the community in which the project is located,consistent with the requirements of Section 104(d)of the Housing and Community Development
Act of 1974,as amended. The Department's approval must be obtained prior to release of funds under this Contract
ARTICLE 6
REPRESENTATIONS AND WARRANTIES OF RECIPIENT
To induce the Department to make the Award referred to in this Master Contract and subsequent Funding Agreements executed under this Master
Contract,the Recipient represents,covenants and warrants that:
6.1 AUTHORITY. The Recipient is duly authorized and empowered to execute and deliver the Master Contract,the Funding Agreement(s),
and all Related Documents. All action on the Recipient's part,such as appropriate resolution of its governing board for the execution and delivery of
the Master Contract,has been effectively taken and will be taken upon execution and delivery of each Funding Agreement. If the Recipient is other
than a unit of general local government of the State of Iowa,the Recipient is duly organized in a legal form and validly exists under the laws of the
State of Iowa and is in good standing, and has complied with all applicable laws of the State of Iowa. If the Recipient is accepting the funds as a
Community Housing Development Organization,the Recipient is organized and operating in accordance with the regulations at 24 CFR part 92.
6.2 FINANCIAL INFORMATION All financial statements and related materials concerning each Activity provided to the Department are
true and correct in all material respects and completely and accurately represent the subject matter thereof as of the effective date of the statements
and related materials,and no material adverse change has occurred since that date.
6.3 APPLICATION. The contents of the Approved Housing Fund Application the Recipient submitted to the Department for approval for
HOME funding is a complete and accurate representation of the Activity as of the date of submission and there has been no material adverse change
in the organization,operation,or key personnel of the Recipient since the date the Recipient submitted its Approved Housing Fund Application to the
Department.
6.4 CLAIMS AND PROCEEDINGS There are no actions, lawsuits or proceedings pending or, to the knowledge of the Recipient,
threatened against the Recipient affecting in any manner whatsoever their rights to execute the Master Contract or subsequent Funding Agreements
or the ability of the Recipient to make the payments required under the Master Contract and Funding Agreements,or to otherwise comply with the
obligations of the Recipient contained under the Master Contract and Funding Agreements. There are no actions,lawsuits or proceedings at law or in
equity, or before any governmental or administrative authority pending or, to the knowledge of the Recipient, threatened against or affecting the
Recipient or any property involved in the Activities.
6.5 PRIOR AGREEMENTS The Recipient has not entered into any verbal or written contracts, agreements or arrangements of any kind
which are inconsistent with the Master Contract or Funding Agreements.
6.6 EFFECTIVE DATE. The covenants, warranties and representations of this Article are made as of the Effective Date of this Master
Contract and shall be deemed to be renewed and restated by the Recipient at the time of execution of each subsequent Funding Agreement and at the
time of each advance or request for disbursement of HOME funds.
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Contract Number:06-HM-126
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ARTICLE 7
COVENANTS OF THE RECIPIENT
7.1 AFFIRMATIVE COVENANTS. Until the Activity has been closed out,audited(as required),and approved by the Department,all loans
repaid,and affordability requirements maintained for the appropriate length of time,the Recipient covenants with the Department that:
(a) WORK AND SERVICES. The Recipient shall perform work and services detailed in each Approved Housing Fund Application by
the dates described in the Funding Agreement's Exhibit A"Program Schedule."
(b) REPORTS. The Recipient shall prepare, review and sign the requests and reports as specified below, together with any reports
required in any Funding Agreement, in the form and content specified by the Department. The requests and reports shall be submitted to
the Department by the dates specified below. The Recipient shall review all reimbursement requests and verify that claimed expenditures
are Eligible Costs. The Recipient shall maintain documentation adequate to support the claimed costs.
REPORT DUE DATE
Project Set-Up Reports As needed
Payment Voucher As needed
Housing Recipient Quarterly Performance Reports 15th of the month following the end of each calendar quarter.(original and one
copy)
Match Report As Match is incurred(as applicable)
Final Pavment Voucher Upon completion of activity
Project Completion Report Within 60 days of drawing final payment
Section 3 Report Within 60 days of the Work Completion Date
Audit Report(where required by OMB Circular A-133) Within 30 days of Audit Completion or nine months after the end of the audit
period,whichever is earlier
Project Financial Report showing all sources and Within 3 months after the end of each fiscal year,for each fiscal year
uses of funds_(for all for-profit projects where audits from the Contract Effective Date through the date of the Project
are not required by OMB Circular A-133) Completion Report
Annual Certification Form,as required by On the anniversary of the Work Completion Date,throughout the Term
24 CFR 92.252 and 92.504(d)(1) of Affordability(i.e.,until the Funding Agreement Expiration Date)
The Department reserves the right to require more frequent submission of the Housing Recipient Quarterly Performance Report than as shown above
if,in the opinion of the Department,more frequent submissions would help improve the Recipient's HOME program.
(c) RECORDS. The Recipient shall adhere to the following record requirements:
(j) REQUIRED RECORDS. The Recipient shall maintain books,records,documents and other evidence pertaining to all
costs and expenses incurred and revenues received under this Master Contract and its Funding Agreements in sufficient detail to
reflect all costs, direct and indirect, of labor,materials,equipment, supplies, services and other costs and expenses of whatever
nature, for which payment is claimed under this Master Contract and its Funding Agreements. The Recipient shall maintain
books, records and documents in sufficient detail to demonstrate compliance with applicable sections of 24 CFR 92.508, the
Master Contract and its Funding Agreements.
(ii) RECORD RETENTION REQUIREMENTS. The Recipient shall maintain records for a period of five (5) years
beyond the date upon which the affordability requirements applicable under 24 CFR 92.252 and 24 CFR 92.254 expire or the
Work Completion Date if there are no long term affordability requirements applicable. Records shall be retained beyond the
prescribed period if any litigation or audit is begun or if a claim is instituted involving this Master Contract and its Funding
Agreements covered by the records. In these instances,the records shall be retained until the litigation, audit or claim has been
finally resolved or until the end of the required period,whichever is later. Records covering displacements and acquisition must
be retained for at least five years after the date by which all persons displaced from the property and all persons whose property is
acquired for the Activity have received the final payment to which they are entitled in accordance with 24 CFR 92.353.
(d) ACCESS TO RECORDS/INSPECTIONS The Recipient shall,without prior notice and during regular business hours,permit HUD
or its representatives, the General Accounting Office or its representatives, the Department, its representatives, or the State Auditor to
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examine,audit and/or copy(i)any plans and work details pertaining to any Activity,(ii)all of the Recipient's books,records and accounts,
and (iii) all other documentation or materials related to this Master Contract, its Funding Agreements, and Related Documents; the
Recipient shall provide proper facilities for making such examination and/or inspection.
(e) USE OF HOME FUNDS. The Recipient shall expend funds received under this Master Contract and its Funding Agreements only
for the purposes and activities described in its Approved Housing Fund Application,this Master Contract and its Funding Agreements,and
as approved by the Department.
(f) DOCUMENTATION. The Recipient shall.deliver to the Department,upon request,(i)copies of all contracts or agreements relating
to each Activity,(ii)invoices,receipts,statements or vouchers relating to each Activity,(iii)a list of all unpaid bills for labor and materials
in connection with each Activity,and(iv)budgets and revisions showing estimated Activity costs and funds required at any given time to
complete and pay for each Activity.
(g) NOTICE OF PROCEEDINGS The Recipient shall promptly notify the Department of the initiation of any claims, lawsuits or
proceedings brought against the Recipient.
(h) INDEMNIFICATION. The Recipient shall indemnify and hold harmless the Department, its officers and employees from and
against any and all losses in accordance with Attachment A,"HOME Program General Provisions,"dated April 25,2003.
(i) NOTICE TO DEPARTMENT In the event the Recipient becomes aware of any material alteration in an Activity funded under this
Master Contract,initiation of any investigation or proceeding involving an Activity funded under this Master Contract,or any other similar
occurrence,the Recipient shall promptly notify the Department.
0) PROJECT FEES. The Recipient shall ensure the prompt payment of all appraisal,survey,recording,title, license,permit and other
fees and expenses incurred incident to the funding award.
(k) CERTIFICATIONS AND ASSURANCES The Recipient certifies and assures that the Activities funded under this Master Contract
will be conducted and administered in compliance with all applicable federal and state laws,regulations and orders. Certain statutes are
expressly made applicable to activities assisted under the Act by the Act itself,while other laws not referred to in the Act may be applicable
to such activities by their own terms. The Recipient certifies and assures compliance with the applicable orders, laws and implementing
regulations,including but not limited to,the following:
(i) The National Affordable Housing Act of 1990;and Department of Housing and Urban Development regulations which
implement the HOME Program at 24 CFR 92.
(ii) Financial Management guidelines issued by the U.S. Office of Management and Budget,OMB Circular A-122("Cost
Principles for Nonprofit Organizations:'); OMB Circular A-87 ("Principles for Determining Costs Applicable to Grants and
Contracts with State, Local and Federally recognized Indian Tribal Governments"); OMB Circular A-133 ("Single Audit Act
Amendment of 1996"): Attachment B, Attachment F, paragraph 2 of Attachment H, and Attachment O; and the following
requirements of the Code of Federal Regulations, 24 CFR Part 85 ("Administrative Requirements for Grants and Cooperative
Agreements to State, Local and Federally Recognized Indian Tribal Governments"): §§85.6, 85.12, 85.20, 85.22, 85.26, 85.32
through 85.34, 85.36, 85.44, 85.5 1, and 85.52. Administrative requirements applying to non-profit organizations are: §§ 84.2,
84.5, 84.13 through 84.16, 84.21, 84.22, 84.26 through 84.28, 84.30, 84.31, 84.34 through 84.37, 84.40 through 84.48, 84.51,
84.60 through 84.62,84.72,and 84.73.
(iii) Title VI of the Civil Rights Act of 1964 as amended(Public Law 88-352;42 U.S.C. 2000d et seq.); Title VIII of the
Civil Rights Act of 1968 as amended(Public Law 90-284;42 U.S.C.3601 et seq.);the Iowa Civil Rights Act of 1965;Iowa Code
section 1913.7, and Executive Order#34, dated July 22, 1988; Presidential Executive Order 11063, as amended by Executive
Order 12259; Presidential Executive Order 11246, as amended; Section 504 of the Rehabilitation Act of 1973 as amended (29
U.S.C.794);the Americans with Disabilities Act,as applicable,(P.L. 101-336,42 U.S.C. 12101-12213;the Age Discrimination
Act of 1975 as amended(42 U.S.C.6101 et seq.);and related Civil Rights and Equal Opportunity statutes;and regulations which
implement these laws.
(iv) Fair Housing Act, Public Law 90-284. The Fair Housing Act is part of Title VIII of the Civil Rights Act of 1968 as
amended(42 U.S.C.3601 et seq.);Section 3 of the Housing and Urban Development Act of 1968 as amended(12 U.S.C. 1701u);
and regulations which implement these laws.
(v) Executive Orders 11625, 12432, and 12138 as amended, to encourage the use of minority and women's business
enterprises in connection with activities funded under the program.
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(vi) Davis-Bacon Act, as amended (40 U.S.C. 276a - 276a-5), where applicable under 24 CFR 92.354; Contract Work
Hours and Safety Standards Act (40 U.S.C. 327 et seq.); the Copeland Anti-Kickback Act(18 U.S.C. 874); the Department of
Defense Reauthorization Act of 1986;and regulations which implement these laws.
(vii) Requirements for the Notification, Evaluation, and Reduction of Lead-Based Paint Hazards in Federally Owned
Residential Property and Housing Receiving Federal Assistance;Final Rule(24 CFR Part 35 et al.).
(viii) Fair Labor Standards Act and implementing regulations.
(ix) Uniform Relocation Assistance and Real Property Acquisition Policies Act of 1970, as amended, (URA)(42 U.S.C.
4601 -4655)and implementing regulations.
(x) National Environmental Policy Act of 1969 and implementing regulations.
(xi) Government-wide Restriction on Lobbying Certification [Section 319 of Public Law 101-1211 and implementing
regulations.
(xii) Hatch Act(regarding political partisan activity and federally funded activities)and implementing regulations.
(xiii) Housing Fund Administrative Rules adopted by the Iowa Department of Economic Development, 261 Iowa
Administrative Code,Chapter 25.
(xiv) Housing Fund Management Guide.
(1) MAINTENANCE OF PROJECT PROPERTY AND INSURANCE. The Recipient and any of its Subrecipients shall maintain
project property(s)in good repair and condition,ordinary wear and tear excepted,and shall not suffer or commit waste or damage upon the
property. The Recipient or its Subrecipient shall pay for and maintain insurance as is customary in their industry. This insurance shall be
in an amount not less than the full insurable value of the property. A Subrecipient of the Recipient shall name the Recipient and
Department as a mortgagee and/or an additional loss payee,as appropriate, and the Recipient shall name the Department as a mortgagee
and/or additional loss payee,as appropriate.
7.2 NEGATIVE COVENANTS During the term of this Master Contract and Funding Agreements entered into hereunder, the Recipient
covenants with the Department that it shall not, without the prior written disclosure to and prior written consent of the Department, directly or
indirectly:
(a) ASSIGNMENT. Assign,waive or transfer any of its rights,powers,duties or obligations under this Master Contract or any Funding
Agreements or Related Documents.
(b) PROPERTY/COLLATERAL Sell, transfer, convey, assign, encumber or otherwise dispose of any of the real property or other
collateral securing any loan or other investment produced under this Master Contract or its Funding Agreements.
(c) RESTRICTIONS. Place or permit any restrictions, covenants or any similar limitations on the real property and/or other collateral
securing any loan or other investment instrument produced under this Master Contract or its Funding Agreements,other than as expressly
permitted or required by the Master Contract or its Funding Agreements.
(d) REMOVAL OF COLLATERAL.- Remove from an Activity site or the State all or any part of the collateral securing any loan or
other investment instrument produced under this Master Contract or its Funding Agreement.
(e) BUSINESS OWNERSHIP If the Recipient is other than a local government,materially change the ownership,structure or control
of the business affecting any Activity funded under this Master Contract, including but not limited to, entering into any merger or
consolidation with any person, firm or corporation or permitting substantial distribution, liquidation or other disposal of business assets
directly associated with an Activity. Changes in the business ownership, structure or control which do not materially affect any Activity
shall require forty-five(45)days prior written notice to the Department,but not written consent of,the Department. The materiality of the
change and whether or not the change affects any Activity funded under this Master Contract shall be determined by the Department.
(f) ADMINISTRATION Cease administering the activities funded under this Master Contract and subsequent Funding Agreements.
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ARTICLE 8
DEFAULT AND REMEDIES
8.1EVENTS OF DEFAULT Any of the following shall constitute an Event of Default under this Master Contract or a Funding Agreement:
(a) MATERIAL MISREPRESENTATION If at any time any representation, warranty or statement made or furnished to the
Department by, or on behalf of the Recipient in connection with this Master Contract, its Funding Agreements,or any Related Documents
to induce the Department to make an award to the Recipient shall be determined by the Department to be incorrect, false, misleading or
erroneous in any material respect when made or furnished and shall not have been remedied to the Department's satisfaction within thirty
(30)days after written notice by the Department is given to the Recipient.
(b) NONPAYMENT. If the Recipient fails to make a payment when due under the terms of this Master Contract or its Funding
Agreements within thirty(30)days following written notice of such overdue payment is given to the Recipient by the Department.
(c) NONCOMPLIANCE If there is a failure by the Recipient to comply with any of the covenants,terms or conditions contained in this
Master Contract,its Funding Agreements,or any Related Documents executed pursuant to the Master Contract or Funding Agreements.
(d) WORK COMPLETION DATE If an Activity,in the sole reasonable judgment of the Department,is not completed on or before the
Funding Agreement Expiration Date,as specified in Article 1.1 and Exhibit A of its Funding Agreement.
(e) LACK OF AFFORDABILITY If an Activity fails to maintain affordability of the HOME-assisted housing for the periods described
in 24 CFR 92.252 or 24 CFR 92.254 as applicable.
(f) MISSPENDING. If the Recipient expends HOME fund proceeds for purposes not described in the Approved Housing Fund
Application,this Master Contract or its Funding Agreements,or as authorized by the Department.
(g) INSURANCE If loss,theft,damage or destruction of any substantial portion of the property of the Recipient occurs for which there
is either no insurance coverage or for which,in the opinion of the Department,there is insufficient insurance coverage.
(h) BUSINESS CHANGES If there is a material change in the ownership, structure or control of the Recipient, which occurs without
the prior written disclosure to and if required,written permission of the Department.
(i) ABANDONMENT If the Recipient abandons the Activity(ies)assisted under the Funding Agreement.
0) INSECURITY. If the Department in good faith deems itself insecure and reasonably believes,after consideration of all the facts and
circumstances then existing, that the prospect of payment and satisfaction of the obligations under this Master Contract and its Funding
Agreements,or the performance of or observance of the covenants in this Master Contract and its Funding Agreements,or the value of its
collateral is or will be materially impaired.
(k) FAILURE TO PROVIDE ENFORCEMENT. If the Recipient has failed to provide an appropriate means of enforcement for an
Activity.
8.2 NOTICE OF DEFAULT In the event of a default,the Department shall issue a written notice of default providing therein a fifteen(15)
day period in which the Recipient shall have an opportunity to cure,provided that cure is possible and feasible.
8.3 REMEDIES UPON DEFAULT If,after opportunity to cure,the default remains,the Department shall have the right,in addition to any
other rights and remedies available to it,to do one or more of the following:
(a) exercise any remedy provided by law,
(b) upon the happening of any Event of Default,the Department shall have the right,in addition to any rights and remedies available to it
under any of the Related Documents, to require immediate repayment of the full amount of funds disbursed to the Recipient under this
Master Contract or any Funding Agreement plus interest without presentment, demand, protest, notice of protest, notice of intention to
accelerate or other notice of any kind,all of which are expressly waived by the Recipient.
8.4 FAILURE TO MEET PERFORMANCE TARGETS. If the Recipient is determined by the Department to be in default of this Master
Contract or its Funding Agreements due to meeting less than one hundred percent(100%)of the performance targets,described in Exhibit A of the
Funding Agreement(s), the Department may require full repayment or, at its discretion, the Department may permit repayment of HOME fund
proceeds which allows partial credit for the performance targets which have been met, or the Department may require other remedies that the
Department determines to be appropriate. In the event of repayments for a Funding Agreement which contains both a grant and a loan, the
repayments shall first be made of funds derived from the grant portion of the Funding Agreement. If there are insufficient funds to cover the default
repayment from the grant portion,the Department may require repayment of some or all of the loan. If the Funding Agreement specifies the activity
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for which repayment is being required, the repayment will be considered to be a repayment of that activity's funds, in the same manner as herein
described.
ARTICLE 9
INCORPORATED DOCUMENTS
9.1 DOCUMENTS INCORPORATED BY REFERENCE. The Recipient shall comply with the terms and conditions of the following
documents which are hereby incorporated by reference:
1. Funding Agreements and any Exhibits executed referencing this Master Contract,dated upon execution.
2. Attachment A,"HOME Program General Provisions,"dated February 3,2006.
3. Agreement for Covenants and Restrictions,as applicable.
4. Approved Housing Fund Application.
9.2 ORDER OF PRIORITY. In the event of a conflict between documents of this Master Contract, the following order of priority shall
govern:
1. Articles I through 10 herein.
2. Funding Agreements referencing this Master Contract.
3. Attachment A,"HOME Program General Provisions,"dated February 3,2006.
4. Agreement for Covenants and Restrictions,as applicable.
5. Approved Housing Fund Application.
ARTICLE 10
MISCELLANEOUS
10.1 BINDING EFFECT. This Master Contract,its Funding Agreements,and Related Documents shall be binding upon and shall inure to the
benefit of the Department and Recipient and their respective successors, legal representatives and assigns. The obligations, covenants,warranties,
acknowledgments, waivers, agreements,terms, provisions and conditions of this Master Contract shall be jointly and severally enforceable against
the parties to this Master Contract.
10.2 SURVIVAL OF CONTRACT. If any portion of this Master Contract or its Funding Agreements is held to be invalid or unenforceable,
the remainder shall be valid and enforceable. The provisions of this Master Contract and its Funding Agreements shall survive the execution of all
instruments herein mentioned and shall continue in full force until the Activity is completed as determined by the Department.
10.3 GOVERNING LAW AND CHOICE OF FORUM This Master Contract and its Funding Agreements shall be interpreted in accordance
with the laws of the State of Iowa,and any action relating to the Master Contract and its Funding Agreements shall only be commenced in the Iowa
District Court for Polk County. This provision shall not be construed as waiving any immunity to suit or liability, including without limitation
sovereign immunity in State or Federal court,which may be available to the Department or the State of Iowa.
10.4 NOTICES. Whenever this Master Contract or its Funding Agreements requires or permits any notice or written request by one party to
another, it shall be in writing,enclosed in an envelope,addressed to the party to be notified at the address heretofore stated(or at such other address
as may have been designated by written notice),properly stamped,sealed and deposited in the United States Mail. Any such notice given hereunder
shall be deemed delivered upon the earlier of actual receipt or two(2)business days after posting. The Department may rely on the address of the
Recipient set forth heretofore,as modified from time to time,as being the address of the Recipient.
10.5 WAIVERS. No waiver by the Department of any default hereunder shall operate as a waiver of any other default or of the same default on
any future occasion. No delay on the part of the Department in exercising any right or remedy hereunder shall operate as a waiver thereof. No single
or partial exercise of any right or remedy by the Department shall preclude future exercise thereof or the exercise of any other right or remedy.
10.6 LIMITATION. It is agreed by the Recipient that the Department shall not,under any circumstances,be obligated financially under this
Master Contract and its Funding Agreements except to disburse funds according to the terms of the Master Contract.
10.7 HEADINGS. The headings in this Master Contract and its Funding Agreements are intended solely for convenience of reference and shall
be given no effect in the construction and interpretation of this Master Contract,its Funding Agreements,or Related Documents.
10.8 INTEGRATION. This Master Contract, its Funding Agreements, and Related Documents contain the entire understanding between the
Recipient and the Department and any representations that may have been made before or after the signing of this Master Contract and its Funding
Agreements,which are not contained herein,are nonbinding,void and of no effect. None of the parties have relied on any such prior representation
in entering into this Master Contract or its Funding Agreements.
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10.9 COUNTERPARTS. This Master Contract and its Funding Agreements may be executed in any number of counterparts, each of which
shall be deemed to be an original,but all of which together shall constitute but one and the same instrument.
10.10 TIME IS OF THE ESSENCE Time is of the essence with respect to the performance of the terms of this
Agreements,and Related Documents. Master Contract, its Funding
IN WITNESS WHEREOF,the parties have executed this Master Contract as of the Effective Date first stated.
RECIPIENT:Waterloo
BY: Timothy J. Hurley, Mayor
Mayor Typed Name and Title
City of Waterloo
City Hall-715 Mulberry St.
Waterloo,IA 50703
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT:
BY:
SANDY EHRIG,DIVISION ADMINISTRATOR
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ATTACHMENT A
GENERAL PROVISIONS
HOME INVESTMENT PARTNERSHIP(HOME)PROGRAM
February 3,2006
1.0 AMENDMENT.
(a) WRITING REQUIRED. This Master Contract and its Funding Agreements may only be amended through written prior
approval of the Department. Examples of situations where amendments are required include time extensions for completion of the
activity, changes to the activity including,but not limited to,alteration of existing approved activity or substitution or alteration of
other forms of matching or Other Funds(as defined in section 1.3 of the Funding Agreement(s)).
(b) UNILATERAL MODIFICATION. Notwithstanding paragraph "a" above, the Department may unilaterally modify the
Contract or its Funding Agreements at will in order to accommodate any change in the Act or any change in the interpretation of
the Act or any applicable federal, state or local laws,regulations,rules or policies. A copy of such unilateral modification will be
given to the Recipient as an amendment to this Contract and its Funding Agreements.
(c) IDED REVIEW. The Department will consider whether an amendment request is so substantial as to necessitate
reevaluating the Department's original funding decision. An amendment will be denied if it substantially alters the circumstances
under which the funding was originally approved or if it does not meet requirements set forth in 261 Iowa Administrative Code,
Chapter 25 or HOME Regulations 24 CFR Part 92.
2.0 AUDIT REQUIREMENTS.
(a) SINGLE AUDIT. If the Recipient is required by OMB Circular A-133 to have a Single Audit, the Recipient shall ensure
that an audit is performed in accordance with the Single Audit Act Amendment of 1996,OMB Circular A-133, as applicable, the
Department's administrative rules for the Housing Fund program (261 Iowa Administrative Code 25), and the Housing Fund
Management Guide. The Recipient shall provide a copy of the audit results to the Department.
(b) ADDITIONAL AUDIT. As a condition of the award to the Recipient, the Department reserves the right to require the
Recipient to submit to a post completion audit and review in addition to the audit required above. The Recipient shall provide a
copy of the audit results to the Department.
3.0 COMPLIANCE WITH LAWS AND REGULATIONS The Recipient shall comply with all applicable State and federal laws,
rules,ordinances,regulations and orders.
4.0 INELIGIBILE COSTS. If the Department determines at any time,whether through monitoring,audit,closeout procedures or by
other means or process that the Recipient has expended funds for costs which are not Eligible Costs, the Recipient will be notified of the
questioned costs and given an opportunity to justify questioned costs prior to the Department's final determination of the disallowance of
costs. Appeals of any determinations will be handled in accordance with the provisions included in subrule 261 Iowa Administrative Code,
25.11(6). If it is the Department's final determination that costs previously paid by the Department are not Eligible Costs under the terms of
the Contract and its Funding Agreements, the expenditures will be disallowed and the Recipient shall repay to the Department any and all
ineligible costs. In the instance of a Funding Agreement containing both a grant and a loan, the grant is to be repaid first, and loan funds
repaid if additional repayment is required after the grant funds have been exhausted. If the ineligibility occurs on an activity which is
specified in the budget,the funds will be repaid in accordance with the budget amount,in the same order as described herein.
5.0 SUSPENSION. When the Recipient has failed to comply with the Master Contract or any Funding Agreement, award conditions
or standards,the Department may,on reasonable notice to the Recipient,suspend the Contract and withhold future payments,or prohibit the
Recipient from incurring additional obligations of HOME funds. Suspension may continue until the Recipient completes the corrective
action as required by the Department. The Department may allow such necessary and proper costs which the Recipient could not reasonably
avoid during the period of suspension provided the Department concludes that such costs meet the provisions of HUD regulations issued
pursuant to OMB Circular A-87.
6.0 TERMINATION.
(a) FOR CAUSE. The Department may terminate the Contract or any Funding Agreement in whole, or in part,whenever the
Department determines that the Recipient has failed to comply with the terms and conditions of the Contract.
(b) FOR CONVENIENCE. The Department or the Recipient may terminate the Contract or any Funding Agreement in whole,
or in part, when all parties agree that the continuation of the Funding Agreement activity would not produce beneficial results
commensurate with the future disbursement of funds.
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(c) DUE TO REDUCTION OR TERMINATION OF HOME FUNDS. At the discretion of the Department,the Contract or
any Funding Agreement may be terminated in whole,or in part, if there is a reduction or termination of HOME funds provided to
the State by the federal government or appropriated to the Department by the legislature.
(d) DUE TO WITHDRAWAL OF DEPARTMENT AUTHORITY. At the discretion of the Department,the Contract or any
Funding Agreement may be terminated in whole or in part if the Department's authorization to operate is withdrawn or there is a
material alteration in the programs administered by the Department.
(e) DUE TO FAILURE TO PERFORM. At the discretion of the Department,the Contract or any Funding Agreement may be
terminated in whole,or in part,if the Recipient is unable to file project set-up forms to commit funds within 180 days of the signing
of the contract.
7.0 PROCEDURES UPON TERMINATION.
(a) NOTICE. The Department shall provide written notice to the Recipient of the decision to terminate, the reason(s)for the
termination,and the effective date of the termination. If there is a partial termination due to a reduction in funding,the notice will
set forth the change in funding and the changes in the approved budget. The Recipient shall not incur new obligations beyond the
effective date of the termination and shall cancel as many outstanding obligations as possible. The Department's share of
noncancellable obligations which the Department determines were properly incurred prior to notice of cancellation will be Eligible
Costs.
(b) RIGHTS IN PRODUCTS. All finished and unfinished documents,data,reports or other material prepared by the Recipient
under the Contract shall,at the Department's option,become the property of the Department.
(c) RETURN OF FUNDS. The Recipient shall return to the Department all unencumbered funds within one week of receipt of
the notice of termination. Upon notice by, and at the discretion of, the Department, the Recipient shall return to the account
identified by the Department all HOME funds which were drawn against the Funding Agreement activity. Any costs previously
paid by the Department which are subsequently determined to be unallowable through audit, monitoring, or closeout procedures
shall be returned to the Department within thirty(30)days of the date of the detenmination of the disallowance.
8.0 ENFORCEMENT EXPENSES The Recipient shall pay upon demand any and all reasonable fees and expenses of the
Department, including the fees and expenses of their attorneys, experts and agents, in connection with the exercise or enforcement of any of
the rights of the Department under this Contract or any Funding Agreement.
9.0 INDEMNIFICATION. The Recipient shall indemnify and hold harmless the State of Iowa, the Department, its officers and
employees, from and against any and all losses, including losses accruing or resulting from any and all claims subcontractors, laborers and
any other person,firm or corporation furnishing or supplying work,services,materials or supplies in connection with the performance of this
Contract and its Funding Agreements, and from any and all claims and losses accruing or resulting to any person, firm or corporation who
may be injured or damaged by the Recipient in the performance of this Funding Agreement.
10.0 CONFLICT OF INTEREST The Conflict of Interest provisions found at 24 CFR 92.356 shall apply in the conduct of the
HOME program. In the procurement of property and services by the Recipient,the conflict of interest provisions in 24 CFR 85.36 and OMB
Circular A-110, as appropriate, apply. In all cases not governed by 24 CFR 85.36 or OMB Circular A-I 10, the provisions found at
24 CFR 92.356 apply. Chapter 6813, Code of Iowa, the "Iowa Public Officials Act," shall be adhered to by the Recipient, its officials and
employees.
11.0 USE OF DEBARRED SUSPENDED OR INELIGIBLE CONTRACTORS OR SUBRECIPIENTS. HOME funds shall not
be used directly or indirectly to employ,award contracts to,or otherwise engage the service of,or fund any contractor or Subrecipient during
any period of debarment, suspension, or placement in ineligible status under the provisions of 24 CFR Part 24 or any applicable law or
regulation of the Department of Labor.
12.0 EQUAL OPPORTUNITY AND FAIR HOUSING The Recipient shall comply with the provisions of 24 CFR 92.350
concerning Equal Opportunity and Fair Housing provisions of Federal law. The Recipient shall comply with the provisions of federal, state
and local law and regulations to insure that no employee or applicant for employment is discriminated against because of race,religion,color,
age,sex,national origin,disability,or familial status.
13.0 CERTIFICATION REGARDING GOVERNMENT-WIDE RESTRICTION ON LOBBYING. The Recipient certifies,to the
best of his or her knowledge and belief,that:
(a) No Federal appropriated funds have been paid or will be paid,by or on behalf of the Recipient,to any person for influencing
or attempting to influence an officer or 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.
HOME General Provisions
Format Approved February 2006
Contract Number:06-HM-126
Page 14 of 14
(b) If any funds other than Federal appropriated funds have been paid or will be paid to any person for influencing or attempting
to influence an officer or employee of any agency,a Member of Congress,an officer or employee,or an employee of a Member of
congress in connection with this Federal contract, grant, loan,or cooperative agreement,the Recipient shall complete and submit
Standard Form-LLL,'Disclosure Form to Report Federal Lobbying"in accordance with its instruction.
(c) The Recipient shall require that the language of this certification be included in the award documents for all subawards at all
tiers(including subcontracts, subgrants, and contracts under grants, loans, and cooperative agreements)and that all Subrecipients
shall certify and disclose accordingly.
This certification is a material representation of fact upon which reliance was placed when this transaction was made or entered
into. This certification is a prerequisite for making or entering into this transaction imposed by section 1352,title 31, U.S. Code.
Any person who fails to file the required certification shall be subject to a civil penalty of not less than$10,000 and not more than
$100,000 for each such failure.
14.0 POLITICAL ACTIVITY No portion of program funds shall be used for any partisan political activity or to further the election
or defeat of any candidate for public office. Neither the program nor the funds provided therefore, nor the personnel employed in the
administration of this Contract or its Funding Agreements,shall be in any way or to any extent,engaged in the conduct of political activities
in contravention of The Hatch Act(5 U.S.C. 15).
15.0 INCLUSION IN SUBCONTRACTS The Recipient will include the provisions of the preceding paragraphs of Section 12.0,
Section 13.0, and Section 14.0 in every subcontract unless exempt by the State of Iowa, and said provisions will be binding on each
subcontractor. The Recipient will take such action with respect to any subcontract as the State of Iowa may direct as a means of enforcing
such provisions including sanctions for noncompliance. In the event the Recipient becomes involved in or is threatened by litigation with a
subcontractor or vendor as a result of such direction by the State of Iowa, the Recipient may request the State of Iowa to enter into such
litigation to protect the interests of the State of
Iowa.
HOME General Provisions
Format Approved February 2006
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT
HOME INVESTMENT PARTNERSHIP(HOME) PROGRAM
FUNDING AGREEMENT
FUNDING AGREEMENT NUMBER: 06-HM-126-69
HOME MASTER CONTRACT NUMBER: 06-HM-126
ACTIVITY TYPE: ADDI-Assisted Homebuyer Program
AWARD TYPE: GRANT
HOME FUNDS AWARD AMOUNT: $100,000
ADDI AMOUNT: $100,000
EFFECTIVE DATE: March 29,2006
WORK COMPLETION DATE: March 31,2008
FUNDING AGREEMENT EXPIRATION DATE: As specified in Section 1.1
THIS HOME INVESTMENT PARTNERSHIP (HOME) PROGRAM FUNDING AGREEMENT is made by and
between the IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT, 200 East Grand Avenue, Des Moines, Iowa 50309
('Department"or"IDED")and Waterloo('Recipient").
WHEREAS,the Department is designated to receive,administer,and disburse HOME funds;and
WHEREAS, the Recipient currently has executed or is in the process of executing a Master Contract with the
Department to accept and administer the HOME funds specified in this Agreement, and has submitted an application for such
funding to the Department;
NOW, THEREFORE, the Recipient accepts the terms and conditions set forth in this Funding Agreement and the
Master Contract for this Funding Agreement. In consideration of the mutual promises contained in the Master Contract and this
Funding Agreement and other good and valuable consideration,it is agreed as follows:
ARTICLE 1
TERMS OF AWARD
1.1 TIME OF PERFORMANCE The services of the Recipient are to commence as of the Effective Date specified
above and the Recipient agrees to undertake the services in a manner that will ensure timely completion of the Activity. This
agreement is completed when the Department determines the activity has been completed in accordance with the requirements of
the HOME program regulations contained in 24 CFR Part 92. Specifically,the Funding Agreement is in effect from the Effective
Date specified above and continues through the Term of Affordability as specified in Exhibit A of the Funding Agreement. The
Term of Affordability commences upon the actual Work Completion Date specified in Exhibit A. The Funding Agreement
Expiration Date is the same as the last date of the Term of Affordability.
1.2 MAXIMUM PAYMENTS. It is expressly understood and agreed that the maximum amounts to be paid to the
Recipient by the Department for any item of work or service shall conform to the budget as presented in Exhibit A, "Program
Schedule." It is further understood and agreed that the total of all payments to the Recipient by the Department for all work and
services required under this Funding Agreement shall not exceed the HOME funds Award Amount unless modified by written
amendment of this Funding Agreement as provided in Section 1.0 of the General Provisions, Attachment A of the Master
Contract.
1.3 OTHER FUNDS. The Recipient agrees to provide contributions to the Activity as defined in the "Other Funds"
column of the budget shown on Exhibit A, 'Program Schedule." Expenditures above this level, necessary to complete the
statement of work and services, shall be paid with Other Funds. Reports of the Other Funds expended shall be included in the
financial report required in Article 7.1(b)Reports,of the Master Contract.
1.4 ADDITIONAL DEED RESTRICTION REQUIREMENTS None.
Prepared by:Terry Vestal
HOME Grant Funding Agreement
Format Approved February 2006
Funding Agreement Number:06-HM-126-69
Page:2
ARTICLE 2
SECURITY
2.1 SECURITY INSTRUMENTS.
(a) Rental Pro erties• Single Projects The Recipient shall ensure the execution of all appropriate Security
Instruments for this Funding Agreement in the Department's favor,as required by the Department. The following
Instruments shall be prepared,executed,and appropriately recorded/filed for this Funding Agreement:
(i) Agreement for Covenants and Restrictions.
(b) Rental Properties: Multiple Projects The Recipient shall ensure the execution of individual Security Instruments
for each assisted property in the Recipient's favor, attaching all necessary program requirements to each assisted
property. The following Instruments shall be prepared, executed, and appropriately recorded/filed for each
assisted property as applicable:
(i) Mortgage(if said assistance is in the form of a loan from the Recipient);
(ii) Promissory Note(if said assistance is in the form of a loan from the Recipient);
(iii) Agreement for Covenants and Restrictions.
(c) Homebuyer Assistance Properties The Recipient shall ensure the execution of individual Security Instruments for
each assisted property in the Recipient's favor, attaching all necessary program requirements to each assisted
property. The following Instruments shall be prepared, executed, and appropriately recorded/filed for each
assisted property:
(i) Mortgage, if said assistance is in the form of a forgivable loan from the Recipient and as required
for purposes of securing recapture provisions,-
(ii) Promissory Note,if said assistance is in the form of a forgivable loan from the Recipient;
(iii) Agreement for Covenants and Restrictions,in instances where resale provisions apply.
(d) Owner-Occupied Rehabilitation Assistance Properties The Recipient shall ensure the execution of individual
Security Instruments for each assisted property in the Recipient's favor, attaching all necessary program
requirements to each assisted property. The following Instruments shall be prepared, executed,and appropriately
recorded/filed for this Funding Agreement:
(i) Mortgage,if said assistance is in the form of a forgivable loan from the Recipient;
(ii) Promissory Note,if said assistance is in the form of a forgivable loan from the Recipient.
2.2 FILING. The Recipient shall file and record in a proper and timely manner any and all Security Instruments noted in
2.1 above,and promptly provide the Department with date-stamped originals of the recorded documents.
2.3 OTHER. The Recipient shall, at the Department's request, obtain and provide to the Department lien searches,
attorney's Opinion of Title reflecting the interests of the Department, a Certificate of Title, the HUD closing (financing)
statement,or any other Related Documents.
ARTICLE 3
GRANT TERMS AND CONDITIONS
3.1 THE AWARD. The Department agrees to provide a grant in the HOME Funds Award Amount stated above. The HOME
Funds Award Amount is to assist the Recipient in financing the Activity described in Exhibit A of this Funding Agreement. In
return for the Award Amount, the Recipient agrees to comply with the provisions of this Funding Agreement, the Master
Contract,and any Related Documents.
AT— ICLRE 4
INCORPORATED DOCUMENTS
4.1 DOCUMENTS INCORPORATED `REFERENCE. The Recipient shall comply with the terms and conditions
of the following documents which are hereby incorporated by this reference:
1. Master Contract Number 06-HM-126.
2. Attachment A,"HOME Program General Provisions,"dated February 3,2006.
3. Funding Agreement Program Schedule,Exhibit A.
4. Agreement for Covenants and Restrictions,as applicable.
5. Approved Housing Fund Application.
Prepared by:Terry Vestal
HOME Grant Funding Agreement
Format Approved February 2006
Funding Agreement Number:06-HM-126-69
Page:3
ARTICLE 5
REPRESENTATIONS
5.1 REPRESENTATIONS. The Recipient has submitted a Housing Fund Application to the Department. In approving
the application and awarding HOME Funds to the Recipient,the Department has relied upon the representations of the Recipient
as to the proposed activities;management and financial condition of the Recipient;investment of Other Funds;and other material
information contained in the Recipient's Housing Fund Application.
specified below.IN WITNESS WHEREOF, the parties have executed this Funding Agreement on the latest day and year
RECIPIENT: Water l o
BY' Timothy J. Hurley, Mayor
Signatur , or Typed Name
City of Waterloo
City Ha11-715 Mulbe St.
Waterloo,IA 50703
DATE: May 8, 2006
IOWA DEPARTMENT OF ECONOMIC DEVELOPMENT:
BY:
SANDY EHRIG,DIVISION ADMINISTRATOR DATE:
Prepared by:Terry Vestal
HOME Grant Funding Agreement
Format Approved February 2006
9,-522 SUBSTITUTE W GI VENDOR UPDATE FORM
625-1366 CPK-45933
(Please print or type except for signature)
In order for the State of Iowa to pay you the amount that is due to you and to comply with the IRS regulations
on reporting these payments, we are requesting the following information. Failure to provide this information will
result in withholding of payment.
BOX A BOX B
Are you/your business: YES NO Is your business: YES NO
Individual [I] % Corporation [C] %
or
Sole Proprietorship [S] % Partnership [P] %
Phone 1 1 1 1 1 1 1 1 1 1 1 1 1 Estate or Trust [E] %
Fax I I I I I I I I I I I I I Public Service Corp [U] %
If the answer to both was no, please complete Box B. Government [G] %
If you answered yes to either item, please provide Other [p] X
your Social Security number:
Please explain
I_u 1 1 1 1 1 1 1 1 Please provide us with your
AND Federal Employer Identification number:
Complete the Name and Address below: 1 41 21 16 101015 1312 17 I I I I
Last Name: Phone 13 11 19 1 12 ,911 1 14141219 I
I I I I I I I I I I I I I I I I
Fax 1311191 1219111 14141311
First Name:
1
I I I I I I I I I I I I I I I 1 MI I AND
Complete the Name and Address below:
Doing Business As: Firm:
I I I I I I I I I I I I I I I I I I I I I I I IC II ITIYI 101F1 IWIAITIEIRIL10101 I I I I I I I I
Address: Doing Business As:
I I I I I I I I I I I I I I I I I I I I I I I I I IC 101MIMiUiNII ITIY1 IDIEIVIEILIOIPIMIEINITI 1 I I
Address: Address:
I I I I I I I I I I I I I I I I I I I I I I I 1 1 IC IAIRINIEIGII IEI IAININIEI%I I—ISlUJITIE1210121
Address:
City: 1612101 IMlUlLIBIEIRIRIYI ISITIRIEIEITI I I I I I
I I I I I I I I I I I I I I I I I I I I I
City:
State: Zip: IW IA IT IE IR IL Q Q I I 1 1 1 1 1 1 1 1 I 1 1
I I I I I I I I I I I I I I State: Zip:
111Al 15 10 17 9 3 1 1 1 1 1 1
CERTIFICATION MUST BE SIGNED BY VENDOR
Certification—Under penalties of perjury, I certify that:
(1) The number shown on this form is my correct taxpayer identification number(or I am waiting for a number to be issued to me),and
(2) 1 am not subject to backup withholding because: (a) I am exempt from backup withholding, or (b) I have not been notified by the Internal
Revenue Service (IRS) that I am subject to backup withholding as a result of a failure to report all interest or dividends, or (c) the IRS has
notified me that I am no Ion r su ject to backup withholding.
Signature: Date,"
CF6R OFFICE SE ONLY(Refer to Procedure 270.450 for more details)
From: ❑ Add
Dept.
❑ Change
(Include vendor code and
changes only)
Contact ❑ Delete
Reason
Added For Purchasing
0 Yes ❑ No