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<br />m. Final inspection is made. <br /> <br />r,. Cor,tractcw provides c,wr,et' with; 1 year warranty, releases <br />from all sub contractors and suppliers. <br /> <br />o. Assist owner in the complete payment to contractor. <br /> <br />p. Aid applicant in exercising a 1 year warranty made by the <br />contt'actm' wher, necessary. <br /> <br />4.3 Approval Of Grant Application <br /> <br />If the rehabilitation grant amount is sufficient to repair the <br />structut'e tc' local c,:>des, the application shall be presented to <br />the Housing Board. When signed it will be considered approved. <br /> <br />4.4 Grant Cancellation <br /> <br />An approved rehabilitation grant may be cancelled because the <br />applicant has requested cancellation, or is unwilling or unable <br />to proceed with the rehabilitation work. <br /> <br />The City may cancel a rehabilitation grant if it is determined <br />that irlfclrmatioY'1 given is incorrect or irlcomplete. <br /> <br />In either event the City will prepare a letter of cancellation <br />and mail to owner. City will retain a copy. <br /> <br />4.5 Grant Repayment <br /> <br />Eligibility for receiving a rehabilitation grant is based on the <br />non-sale or transfer of the property for a period of four years <br />following construction completion. Should the property be sold <br />prior to the end of the fourth year, the owner will be required <br />to repay the principal amount of the grant in the following way: <br /> <br />a. If sold within the first year, the total amount is due. <br /> <br />b. If sold during the second year, 75~ is due. <br /> <br />c. If sold during the third year, 50~ is due. <br /> <br />d. If sold during the fourth year, 25~ is due. <br /> <br />e. After the fourth arn",iversat'y of completion of con- <br />struction, the grant is forgiven and this lien is <br />considered null and void by the City of Paris. <br /> <br />-9- <br />