2010-096 RES APPROVING AMENDMENT OF AGREEMENT BETWEEN THE CITY OF PARIS AND PARIS LIVING TO ADMIN HOMEBUYER PROGRAM CONTRACT NO 1001224

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preparation, c oi7ental, homebnver couilselinQ, home i °ctions, or oCher project specific sen,ices necessalv to enable an uldividual property to close ~,,iesuming that Paris LivinR or one of its collsultant(s) perfonlls that actual se;ti-ice). Pans LivinL, azrees that its fees will noi e~ceed an.ounts allowable as eosts that can be charged aL'alnst the administrative or prolect relatea soft costs of the ProQrain or at7aiilst third party panicipants. Further it is understood that while tl,~.e administrative costs wili be charQed for accomplishing certain administrative tasks, that TDHCA requires that any administrative draw processed to TDHCA not exceed the percentage of projects coinpleted and drawn. Therefore, Paris Living will bill the City and prepare subsequent documentation for reimbursement from TDHCA to the City based upon the following acneral activity categories and per the following milestones: [NOTE: the following milestones are based upon 20 units to be completed as specified in the contract between the Coty of Paris and TDHCA. If that contract should be amended to increase or decrease the number of units to be completed, the Uillins milestones will be adjusted propoi-tionately.] % OF TOTAL ACTNITY* CONTRACT FEE 1. Affirmative Marketing 25% 2 Administration of the Pro;ram/Record Keeping 36% 3. Financial ManaQement 'g% 4. Administrative Environmental 01 % TOT.AL: 100% °'o OF BILLING MILESTQivES*'" CONTRACT FEE 1, 2°d home loan completed and reimbursed by TDHCA 10% 2. 5`I' home loan completed and reimbursed Uy TDHCA 1 5% 3. 10"' home loaiz completed aiid reimbursed by TDHCA 25% : 4. 15"' home loan completed and reimbursed by TDHCA 25% 5. 19`'home loan completed and reimbursed by TDHCA 20% 6. 20°i (or last) home completed and reimbursed by TDHCA 5% °aT* TOTAL: 20 home loans comoleted 100 _ *these cateQories reflect work activity for managing the homebuyer program in general. Activities and work associated with individual loans and projects will be billed to each loan closing as project related soft costs. Such activities would include suc11 items as: document preparation, individual property file reviews, eilviromllental checklist preparation, and document deliverv_ **If the total contract is not completed the total administrative fees charged to the City aild subsequently to TDIICA for reinlbtusement under the Administrative fee portion of the contract with the City will be i11 an amount that is the sanie percentage as the total nuinber of loans completed (as per the HLTD rules). Further, the City understands and a,-,rees that Paris Living may, upoi1 u-ritten approval from the City Mazla;er of the City of Paris, subcontract poi Lions oi the administration of the Proaram to other entities, with the understandinL tha± Paris Livina has the ultiniate rarn. responsibility and liability to the City for the administration of the ProL 6. Par,s Living, and the Ci?}- agree that the pe.-iod of this Agreement will be for a minimum of tluce vears from the agreei7lent si7ning date or to coincide with tlle length and teizli of the ever period is lon~er. whicll Citv's contract with TDHCA incltidina any extensions to thereof.