MIDPEN HOUSING CORP (2) - Laserfiche WebLink

immediately upon issuance of the Certificate of Occupancy, the Certificate of Completion, or some other document acceptable to City. Contractor shall provide City with a housing completion report, including final Project funding sources/uses, and tenant profile described below on forms provided by the City within the first 180 days of the Compliance Period. Upon Contractor request to City, the due dates for these reports may be extended to accommodate a longer lease -up period as the case may be. Thereafter, on an annual basis during the Compliance Period, or more often if required by the City, Contractor will provide the City with all information necessary to monitor the Project relating to program compliance matters. Annual information required will include but is not necessarily limited to: evidence of continuing fire and liability insurance; annual certified financial audit; tenant incomes and rents; and any other compliance information as may be required by the City. 9. Property Standards. Construction of the Project must fully comply with all applicable local and State building codes and regulations. All HOME -funded projects also must meet property standards in 24 CFR 92.251 of the HOME Program Rules ("HOME"), including, but not limited to, inspection prior to issuance of a certificate of occupancy and inspection for habitability one year thereafter. Improvements to existing residential property must meet federal lead -based paint standards referenced in Exhibit C. 10. Agreement Term Extension. The parties to this Agreement hereby acknowledge and affirm that notwithstanding Section 4 Term and Termination, of this Agreement, the Term shall be coterminous with the expiration of the Affordability Covenant period or of the Compliance Period, whichever such event occurs later. 11. Quarterly Performance Reporting. During construction of the Project, Contractor shall submit to City a Quarterly Performance Report within 30 days of the end of each quarter. The report should be in the form of a narrative description of all activities performed in relation to the project including all development activities. The report should include a project time -line, including a schedule for completing milestones and/or tasks, and indicate the status of the project in relationship to this time- line. Contractor must document any changes from the time -line submitted with the original application. Quarterly performance reports will be provided to City during the course of the Project until after Project completion, even if all of the funds provided under this Agreement have been expended. This report requirement is in addition to any information submitted with requests for reimbursement. 12. Project Completion Reporting. Upon completion of the Project, Contractor shall provide reports depending on the Project type and in a format provided by City. Completion reports include, but are not limited to: Tenant Profile; a Project Completion audit or other audit required under tax credit requirements or other affordable funder performed by an independent certified public accountant identifying the sources and uses of all Project funds; Project Financial Completion Report (sources and uses of funding), which shows the total of all funds expended for the Project. Should Project financing involve tax credits or other financing requiring the preparation of a final Project Cost Audit ("Cost Audit"), Contractor shall provide a copy of such audit to City within the same timeframe prescribed by the funding source requiring such audit. 13. Affirmative Marketing. Projects containing five or more units, regardless of funding source, must comply with affirmative marketing responsibilities that meet federal and state requirements. Projects A-6 191\52\1543377.4