Common use of Loan Processing Clause in Contracts

Loan Processing. If a loan and/or grant application is approved, the County will: i. Conduct initial inspection of properties of eligible applicants and prepare inspection reports. ii. Assist eligible applicants with securing contractual services to undertake eligible work, including preparing bid packages, noticing the availability of bid packages, reviewing bids received, and confirming the contractor and any subcontractors are not on the list of debarred, suspended, or ineligible contractors. The County may assist the applicant in choosing a contractor from the County’s courtesy list of contractors or may assist the applicant in choosing a contractor who has a license from the State Contractor’s Board and a business license from the City of Walnut Creek. iii. Assist eligible applicants with the preparation of loan/grant application documents. iv. If a loan is being made, prepare the loan documents between the homeowner and the City, under which the homeowner evidences its obligation to repay the loan through the execution of a promissory note, which note is secured by a deed of trust that names the City as the beneficiary. If a grant is made, prepare the grant documents between the homeowner and the City. v. Verify the contractor’s general liability, automobile liability and workers’ compensation insurance coverage prior to each project start date. Contractor’s general liability policy must list the County and the City as additional insureds. vi. Verify the contractor’s licenses including a business license from the City, and evaluation of contractor’s qualifications. For work exceeding $2,000, verify that the contractor has a license from the State Contractor’s Board. vii. Coordinate the signing of Rehabilitation Contract with selected Contractor, prior to initiation of work. Upon signature, homeowner will be provided an anticipated timeline and completion date for the work. viii. Perform periodic inspections to determine that work is being performed in accordance with the contract between the homeowner and the contractor. ix. Perform final inspection to determine that the work has been completed in accordance with the terms of the contract between the homeowner and the contractor. x. If work is performed in accordance with homeowner’s contract with the contractor during the term of the contract, with homeowner’s agreement, make progress payments to contractor. Progress payments are to be made by the County within 30 days following its receipt of a request from the contractor for payment in the form of a payment voucher. If work is completed in accordance with homeowner’s contract with the contractor, with the homeowner’s agreement, (i) accept the work and make the semi-final payment to contractor, and (ii) record the Notice of Completion. The semi-final payment is to be made by the County within 30 days following its receipt of a request from the contractor for payment in the form of a payment voucher. Make the final payment to the contractor 35 days after the date the Notice of Completion is recorded.

Loan Processing. If a loan and/or grant application is approved, the County will: i. Conduct initial inspection of properties of eligible applicants and prepare inspection reports. ii. Assist eligible applicants with securing contractual services to undertake eligible work, including preparing bid packages, noticing the availability of bid packages, reviewing bids received, and confirming the contractor and any subcontractors are not on the list of debarred, suspended, or ineligible contractors. The County may assist the applicant in choosing a contractor from the County’s County‟s courtesy list of contractors or may assist the applicant in choosing a contractor who has a license from the State Contractor’s Contractor‟s Board and a business license from the City of Walnut CreekAntioch. iii. Assist eligible applicants with the preparation of loan/grant application documents. iv. If a loan is being made, prepare the loan documents between the homeowner and the City, under which the homeowner evidences its obligation to repay the loan through the execution of a promissory note, which note is secured by a deed of trust that names the City as the beneficiary. If a grant is made, prepare the grant documents between the homeowner and the City. v. Verify the contractor’s contractor‟s general liability, automobile liability and workers’ workers‟ compensation insurance coverage prior to each project start date. Contractor’s Contractor‟s general liability policy must list the County and the City as additional insureds. vi. Verify the contractor’s contractor‟s licenses including a business license from the City, and evaluation of contractor’s contractor‟s qualifications. For work exceeding $2,000, verify that the contractor has a license from the State Contractor’s Contractor‟s Board. vii. Coordinate the signing of Rehabilitation Contract with selected Contractor, prior to initiation of work. Upon signature, homeowner will be provided an anticipated timeline and completion date for the work. viii. Perform periodic inspections to determine that work is being performed in accordance with the contract between the homeowner and the contractor. ix. Perform final inspection to determine that the work has been completed in accordance with the terms of the contract between the homeowner and the contractor. x. If work is performed in accordance with homeowner’s homeowner‟s contract with the contractor during the term of the contract, with homeowner’s homeowner‟s agreement, make progress payments to contractor. Progress payments are to be made by the County within 30 days following its receipt of a request from the contractor for payment in the form of a payment voucher. If work is completed in accordance with homeowner’s homeowner‟s contract with the contractor, with the homeowner’s homeowner‟s agreement, (i) accept the work and make the semi-final payment to contractor, and (ii) record the Notice of Completion. The semi-final payment is to be made by the County within 30 days following its receipt of a request from the contractor for payment in the form of a payment voucher. Make the final payment to the contractor 35 days after the date the Notice of Completion is recorded.

Loan Processing. If a loan and/or grant application is approved, the County will: i. Conduct initial inspection of properties of eligible applicants and prepare inspection reports. ii. Assist eligible applicants with securing contractual services to undertake eligible work, including preparing bid packages, noticing the availability of bid packages, reviewing bids received, and confirming the contractor and any subcontractors are not on the list of debarred, suspended, or ineligible contractors. The County may assist the applicant in choosing a contractor from the County’s County‟s courtesy list of contractors or may assist the applicant in choosing a contractor who has a license from the State Contractor’s Contractor‟s Board and a business license from the City of Walnut Creek. iii. Assist eligible applicants with the preparation of loan/grant application documents. iv. If a loan is being made, prepare the loan documents between the homeowner and the City, under which the homeowner evidences its obligation to repay the loan through the execution of a promissory note, which note is secured by a deed of trust that names the City as the beneficiary. If a grant is made, prepare the grant documents between the homeowner and the City. v. Verify the contractor’s contractor‟s general liability, automobile liability and workers’ workers‟ compensation insurance coverage prior to each project start date. Contractor’s Contractor‟s general liability policy must list the County and the City as additional insureds. vi. Verify the contractor’s contractor‟s licenses including a business license from the City, and evaluation of contractor’s contractor‟s qualifications. For work exceeding $2,000, verify that the contractor has a license from the State Contractor’s Contractor‟s Board. vii. Coordinate the signing of Rehabilitation Contract with selected Contractor, prior to initiation of work. Upon signature, homeowner will be provided an anticipated timeline and completion date for the work. viii. Perform periodic inspections to determine that work is being performed in accordance with the contract between the homeowner and the contractor. ix. Perform final inspection to determine that the work has been completed in accordance with the terms of the contract between the homeowner and the contractor. x. If work is performed in accordance with homeowner’s homeowner‟s contract with the contractor during the term of the contract, with homeowner’s homeowner‟s agreement, make progress payments to contractor. Progress payments are to be made by the County within 30 days following its receipt of a request from the contractor for payment in the form of a payment voucher. If work is completed in accordance with homeowner’s homeowner‟s contract with the contractor, with the homeowner’s homeowner‟s agreement, (i) accept the work and make the semi-final payment to contractor, and (ii) record the Notice of Completion. The semi-final payment is to be made by the County within 30 days following its receipt of a request from the contractor for payment in the form of a payment voucher. Make the final payment to the contractor 35 days after the date the Notice of Completion is recorded.