14-Reservation system participant to the Texas Dept of Housing

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NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, including the Recitals, which are contractual in nature, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties, each intending to be legally bound, hereby agree as follows: ARTICLE I DEFINITIONS Unless the context clearly indicates otherwise, capitalized terms used shall have the meanings ascribed to them in this Contract, provided that certain capitalized terms used and not defined herein shall have the meanings ascribed to them in or for purposes of the HOME Rule. In the event of a conflict between the Program Requirements with respect to the meaning of a defined term, the meaning given by HUD shall control. The meanings of the capitalized terms used herein and not defined in the Program Requirements are set forth herein. ARTICLE II RESERVATION SYSTEM PARTICIPATION Section 2.1 Term This Contract shall be effective upon its execution and delivery and shall remain in full force and effect for twenty four (24) months ("Term" or "Contract Term") to begin on the day this Contract is executed by an authorized representative of the Department and end on , 201_, unless earlier terminated or amended in accordance with the provisions herein. Section 2.2 Reservation Svstem Access A. This Contract is entered into in accordance with the rules at 10 TAC §53.26. Execution of this Contract does not guarantee the availability of funds to carry out the activities described herein. To the extent that the Department makes HOME funds available for the eligible activities specified in subsection D of this section, the RSP shall have access to the Department's Housing Contract System (https://contract.tdhca.state.tx.us/alligator/Login.m) to make a Reservation of funds in accordance with the terms and conditions herein. B. An RSP shall have access to submit a household for a Reservation of Funds on any business day during the Term of this Contract, provided sufficient funds are available. C. For any Household that is approved for a Commitment of Funds, the RSP must enter into an agreement with Department to govern the provision of approved funds and specify the applicable Program Requirements ("Household Commitment Contract"). The Household Commitment Contract is attached hereto as Exhibit A. D. Notwithstanding any other provision of this Contract to the contrary, the total of all payments and other obligations incurred by Department under this Contract shall not exceed the amounts available under the Reservation System after making all appropriate adjustments and provisions for other obligations, limitations, costs, and expenses. 2 of 25 2010-0015 67