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<br /> <br /> <br /> <br /> <br /> preparation. orental, homebuver counseling, home i °ctions, or other project specific <br /> ul7 <br /> ser ices necessary to enable an ' dividual property to close ~~,resuming that Paris Living or one <br /> of its consultant(s) performs that actual service). Paris Living agrees that its fees will not <br /> exceed amounts allowable as costs that can be charged against the administrative or project <br /> related soft costs of the Program or against third pat ,,y participants. <br /> Further it is understood that while the administrative costs will be charged for accomplishing <br /> certain administrative tasks, that TDHCA requires that any administrative draw processed to <br /> TDHCA not exceed the percentage of projects completed and drawn. Therefore, Paris Living <br /> will bill the City and prepare subsequent documentation for reimbursement from TDHCA to <br /> the City based upon the following general activity categories and per the following milestones: <br /> [NOTE: the following milestones are based upon 20 units to be completed as specified in <br /> the contract between the Coty of Paris and TDHCA. If that contract should be amended <br /> to increase or decrease the number of units to be completed, the billing milestones will be <br /> adjusted proportionately.] <br /> % OF TOTAL <br /> CONTRACT FEE <br /> ACTIVITY* <br /> 25% <br /> I. Affirmative Marketing J5% <br /> 2. Administration of the Program/Record Keeping % <br /> 3. Financial Management 38 38% <br /> 4. Administrative Environmental 101 <br /> TOTAL: <br /> % OF <br /> CONTRACTFEE <br /> BILLING MILESTONES*' <br /> 1 % <br /> 1, 2nd home loan completed and reimbursed by TDHCA 10% <br /> 2 5`i' home loan completed and reimbursed by TDHCA 25% <br /> 3. 10°i home loan completed and reimbursed by TDHCA 25% <br /> 4. 15`x' home loan completed and reimbursed by TDHCA 25% <br /> 5. 19"' home loan completed and reimbursed by TDHCA <br /> 6. 20`x' (or last) home completed and reimbursed by TDHCA 5% <br /> 1 5% <br /> TOTAL: 20 home loans completed - <br /> *these categories reflect work activity for managing the homebuyer program in general. <br /> Activities and work associated with individual loans and projects will be billed to each loan <br /> closing as project related soft costs. Such activities would include such items as: document <br /> preparation, individual property file reviews, environmental checklist preparation, and <br /> document delivery. <br /> **If the total contract is not completed the total administrative fees charged to the City and <br /> subsequently to TDHCA for reimbursement under the Administrative fee portion of the <br /> contract with the City will be in an amount that is the same percentage as the total number of <br /> loans completed (as per the I-IUD rules). <br /> 5. Further, the City understands and agrees that Paris Living may, upon written approval <br /> from the City Manager of the City of Paris, subcontract portions of the administration of the <br /> Program to other entities, with the understanding that Paris Living has the ultimate <br /> responsibility and liability to the Citv for the administration of the Program. <br /> 6. Paris Living and the City agree that the period of this Agreement will be for a minimum <br /> of three years from the agreement signing date or to coincide with the lcngth and term of the <br /> City's contract with TDHCA including any extensions to thereof, whichever period is longer. <br /> - 197 <br />