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ADMINISTRA'TION <br />Administrator may expend funds provided under this contract for reasonable administrative and <br />planning costs incurred directly related to this contract, in accordance with Sections 3, 4, and 5 of <br />this contract and 24 C.F.R §92.207 in an amount of HOME funds that is not more than four <br />percent (4%) or Eight Tlaousand and No/100 Dollars ($8,000.00) of the total amount of project <br />funds received under this contract. Administrator shall be allowed to draw up to ten percent (10%) of the actual allowable <br />administrative costs incurred at the initial stage of the Contract, with the remaining ninety <br />percent (90%) funded on a pro-rata basis, based on project fund disbursements. <br />HOMEBUYER TRAINING PROGRAM <br />Administrator must provide a Homeblryer Counseling Program to all homebuyers assisted under <br />this contract. The local Homebuyer Counseling Program may include; but is not limited to, <br />Financial Management, Homebuyer purchase process such as, preparing for homeownership, <br />shopping for a home, obtaining a mortgage, closing, post purchase counseling and foreclosure <br />prevention. Administrator shall maintain a file containing all activity relating to efforts made to <br />guide recipients toward homeownership. <br />HOME Contract #1000930 <br />Page 19 of 21 <br />- 000121 <br />