Common use of Project Requirements Clause in Contracts

Project Requirements. The Borrower will comply with the specific Project Requirements as listed in Exhibit 1. All development activities shall be performed in material compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement (the "Budget"). Eligible development expenses, pursuant to the Project Requirements as detailed in Exhibit 1 and Budget as detailed in Exhibit 2 incurred after approval of the funding by Common Council, shall be eligible for reimbursement by the City from proceeds of the Loan. This Agreement shall become effective upon the date first stated above. The City’s agreement to provide the Borrower with AHF funds to partially finance this specific local Project is based on the Borrower having submitted documentation demonstrating that all necessary financing has been secured, an adequate budget and feasible project schedule have been established, and construction is scheduled to start, as evidenced by a building permit, within twelve (12) months of the agreement date. The Borrower certifies that all necessary project financing has been firmly committed at the time of execution of this Agreement. The Borrower further agrees to furnish all information, reports, and recommendations regarding the development activities conducted under this Agreement and reasonably requested by the City including, but not limited to, financial statements and reports, reports related to development activities and beneficiaries, and any other reports or documents reasonably requested. Any other reports or documents shall be provided within ten (10) business days after the Borrower receives the City's written request, unless the parties agree in writing to a longer period. In addition, the Borrower will respond to questions regarding the community’s need for the Borrower’s development activities and related services and the cost of such development activities, including questions from City officials or employees, as defined in Sec. 2.40 (3)(i), MGO.

Project Requirements. The Borrower will comply with the specific Project Requirements as listed in Exhibit 1. All development activities The Borrower shall be performed in material compliance with develop the applicable budget, project for the City as detailed in Exhibit 2 of this Agreement (the "Budget"). Eligible development expenses, pursuant to the Project Requirements as detailed specified in Exhibit 1 and Budget as detailed in Exhibit 2 incurred after approval of the funding by Common Council, shall be eligible for reimbursement by the City from proceeds of the Loanany amendments thereto. This Agreement shall become effective upon execution by the date first stated aboveMayor, on behalf of the City of Madison. The In accordance with the Regulations, the City’s agreement Agreement to provide the Borrower with AHF CDBG funds to partially finance this specific local Project is based on the Borrower having submitted documentation demonstrating that all necessary financing has been secured, an adequate budget and feasible project schedule have been established, and construction and/or any rehabilitation is scheduled to start, as evidenced by a building permit, start within twelve (12) months of the agreement date. Additional underwriting considerations by the City may include, but are not limited to, debt coverage ratio, secured loan to value ratio, reasonable capital and operating cost budgets, adequate reserves, reasonable return on investment and acceptable level of risk. The Borrower certifies that all necessary project financing has been firmly committed secured at the time of execution of this Agreement. Expenses incurred for eligible development activities pursuant to the Project Requirements, but before the execution of this Agreement, may be reimbursed by the City, but only if they are incurred after approval of the funding by Common Council. No payments shall be made for development activities pursuant to this Agreement until the Agreement is fully executed. The Borrower shall develop the Project as specified in Exhibit 1 of this Agreement. All development activities shall be performed in compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement. The Borrower further agrees to furnish all information, reports, and recommendations regarding the development project activities conducted under this Agreement and reasonably requested by the City including, but not limited to, financial statements and reports, reports related to development activities and beneficiaries, and any other reports or documents reasonably requested. Any other reports or documents shall be provided within ten five (105) business days after the Borrower receives the City's written request, unless the parties agree in writing to a longer period. The Borrower agrees to make its staff and records available to employees of the U.S. Department of Housing and Urban Development and the Comptroller General at any time. In addition, the Borrower will respond to questions regarding the community’s need for the Borrower’s development activities and related services and the cost of such development activities, including questions from City officials or employees, as defined in Sec. 2.40 (3)(i), MGO.

Project Requirements. The Borrower will comply with the specific Project Requirements as listed in Exhibit 1. All development activities shall be performed in material compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement (the "Budget"). Eligible development expenses, pursuant to the Project Requirements as detailed in Exhibit 1 and Budget as detailed in Exhibit 2 incurred after approval of the funding by Common Council, shall be eligible for reimbursement by the City from proceeds of the Loan. This Agreement shall become effective upon the date first stated above. The City’s agreement to provide the Borrower with AHF funds to partially finance this specific local Project is based on the Borrower having submitted documentation demonstrating that all necessary financing has been secured, an adequate budget and feasible project schedule have been established, and construction is scheduled to start, as evidenced by a building permit, within twelve (12) months of the agreement Agreement date. The Borrower certifies that all necessary project financing has been firmly committed at the time of execution of this Agreement. The Borrower further agrees to furnish all information, reports, and recommendations regarding the development activities conducted under this Agreement and reasonably requested by the City including, but not limited to, financial statements and reports, reports related to development activities and beneficiaries, and any other reports or documents reasonably requested. Any other reports or documents shall be provided within ten (10) business days after the Borrower receives the City's written request, unless the parties agree in writing to a longer period. In addition, the Borrower will respond to questions regarding the community’s need for the Borrower’s development activities and related services and the cost of such development activities, including questions from City officials or employees, as defined in Sec. 2.40 (3)(i), MGO.

Project Requirements. The Borrower will comply with the specific Project Requirements as listed in Exhibit 1. All development activities shall be performed in material compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement (the "Budget"). Eligible development expenses, pursuant to the Project Requirements as detailed in Exhibit 1 and Budget as detailed in Exhibit 2 incurred after approval of the funding by Common Council, shall be eligible for reimbursement by the City from proceeds of the Loan. This Agreement shall become effective upon the date first stated above. The City’s agreement to provide the Borrower with AHF funds to partially finance this specific local Project is based on the Borrower having submitted documentation demonstrating that all necessary financing has been secured, an adequate budget and feasible project schedule have been established, and construction is scheduled to start, as evidenced by a building permit, within twelve (12) months of the agreement date. The Borrower certifies that all necessary project financing has been firmly committed at the time of execution of this Agreement. The Borrower further agrees to furnish all information, reports, and recommendations regarding the development activities conducted under this Agreement and reasonably requested by the City including, but not limited to, financial statements and reports, reports related to development activities and beneficiaries, and any other reports or documents reasonably requested. Any other reports or documents shall be provided within ten (10) business days after the Borrower receives the City's written request, unless the parties agree in writing to a longer period. In addition, the Borrower will respond to questions regarding the community’s need for the Borrower’s development activities and related services and the cost of such development activities, including questions from City officials or employees, as defined in Sec. 2.40 (3)(i), MGO.

Project Requirements. The Borrower will comply with the specific Project Requirements as listed in Exhibit 1. All development activities shall be performed in material compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement (the "Budget"). Eligible development expenses, pursuant to the HOME Regulations and Project Requirements as detailed in Exhibit 1 and Budget as detailed in Exhibit 2 incurred after approval of the funding by Common Council, shall be eligible for reimbursement by the City from proceeds of the Loan. This Agreement shall become effective upon the date first stated above. The In accordance with the HOME Regulations, the City’s agreement to provide the Borrower with AHF and HOME funds to partially finance this specific local Project is based on the Borrower having submitted documentation demonstrating that all necessary financing has been secured, an adequate budget and feasible project schedule have been established, and construction is scheduled to start, as evidenced by a building permit, within twelve (12) months of the agreement date. The Borrower certifies that all necessary project financing has been firmly committed at the time of execution of this Agreement. The Borrower further agrees to furnish all information, reports, and recommendations regarding the development activities conducted under this Agreement and reasonably requested by the City including, but not limited to, financial statements and reports, reports related to development activities and beneficiaries, and any other reports or documents reasonably requested. Any other reports or documents shall be provided within ten (10) business days after the Borrower receives the City's written request, unless the parties agree in writing to a longer period. SAMPLE In addition, the Borrower will respond to questions regarding the community’s need for the Borrower’s development activities and related services and the cost of such development activities, including questions from City officials or employees, as defined in Sec. 2.40 (3)(i), MGO.

Project Requirements. The Borrower will comply with the specific Project Requirements as listed in Exhibit 1. All development activities shall be performed in material compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement (the "Budget")Agreement. Eligible development expenses, pursuant to the Project Requirements as detailed in Exhibit 1 and Budget as detailed in Exhibit 2 incurred after approval of the funding by Common Council, shall be eligible for reimbursement by the City from proceeds of the Loan. This Agreement shall become effective upon the date first stated above. The City’s agreement to provide the Borrower with AHF funds to partially finance this specific local Project is based on the Borrower having submitted documentation demonstrating that all necessary financing has been secured, an adequate budget and feasible project schedule have been established, and construction is scheduled to start, as evidenced by a building permit, start within twelve (12) months of the agreement date. The Borrower certifies that all necessary project financing has been firmly committed at the time of execution of this Agreement. The Borrower further agrees to furnish all information, reports, and recommendations regarding the development activities conducted under this Agreement and reasonably requested by the City including, but not limited to, financial statements and reports, reports related to development activities and beneficiaries, and any other reports or documents reasonably requested. Any other reports or documents shall be provided within ten (10) business days after the Borrower receives the City's written request, unless the parties agree in writing to a longer period. In addition, the Borrower will respond to questions regarding the community’s need for the Borrower’s development activities and related services and the cost of such development activities, including questions from City officials or employees, as defined in Sec. 2.40 (3)(i), MGO.

Project Requirements. The Borrower will comply with the specific Project Requirements as listed in Exhibit 1. All development activities The Borrower shall be performed develop the project for the City as specified in material compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement (the "Budget"). Eligible development expenses, pursuant to the Project Requirements as detailed in Exhibit 1 and Budget as detailed in Exhibit 2 incurred after approval of the funding by Common Council, shall be eligible for reimbursement by the City from proceeds of the Loanany amendments thereto. This Agreement shall become effective upon execution by the date first stated aboveMayor, on behalf of the City of Madison. The In accordance with the Regulations, the City’s agreement 's Agreement to provide the Borrower with AHF HOME funds to partially finance this specific local Project is based on the Borrower having submitted documentation demonstrating that all necessary financing has been secured, an adequate budget and feasible project schedule have been established, and construction is scheduled to start, as evidenced by a building permit, start within twelve (12) months of the agreement date. Additional underwriting considerations by the City include, but are not limited to, debt coverage ratio, secured loan to value ratio, reasonable capital and operating cost budgets, adequate reserves, reasonable return on investment and acceptable level of risk. The Borrower certifies that all necessary project financing has been firmly committed secured at the time of execution of this Agreement. Expenses incurred for eligible development activities pursuant to the Project Requirements, but before the execution of this Agreement, may be reimbursed by the City, but only if they are incurred after approval of the funding by Common Council. No payments shall be made for development activities pursuant to this Agreement until the Agreement is fully executed. The Borrower shall develop the Project as specified in the Project Requirements, as detailed in Exhibit 1 of this Agreement. All development activities shall be performed in compliance with the applicable budget, as detailed in Exhibit 2 of this Agreement. The Borrower further agrees to furnish all information, reports, and recommendations regarding the development activities conducted under this Agreement and reasonably requested by the City including, but not limited to, financial statements and reports, reports related to development activities and beneficiaries, and any other reports or documents reasonably requested. Any other reports or documents shall be provided within ten five (105) business days after the Borrower receives the City's written request, unless the parties agree in writing to a longer period. In addition, the Borrower will respond to questions regarding the community’s 's need for the Borrower’s 's development activities and related services and the cost of such development activities, including questions from City officials or employees, as defined in Sec. 2.40 (3)(i), MGO.