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other project specific services necessary to enable an individual property to close (presuming <br />that Paris Living or one of its consultant(s) performs that actual service). Paris Living agrees <br />that its fees will not exceed amounts allowable as costs that can be charged against the <br />administrative or project related soft costs of the Program or against third party 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 15 units to be completed as specified in <br />the contract between the City 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 />ADMINISTRATNE FEES <br />ACTIVITY* <br />1. General Management and Oversight of contract <br />2. Information Services <br />3. Affirmative Marketing <br />4. Record Keeping <br />5. Financial Management <br />6. Administrative Environmental <br />TOTAL: <br />BILLING MILESTONES** <br />AMOUNT % OF TOTAL <br />ALLOWED CONTRACT FEE <br />$7,750 <br />$3,000 <br />$ 200 <br />$ 800 <br />$ 200 <br />$ 50 <br />1. 2°d home loan completed and reimbursed by TDHCA <br />2. St" home loan completed and reimbursed by TDHCA <br />3. 10" home loan completed and reimbursed by TDHCA <br />4. 13t" home loan completed and reimbursed by TDHCA <br />5. 15"' (or last) home completed and reimbursed by TDHCA <br />TOTAL: 15 home loans completed <br />64.58% <br />25.00% <br />1.67% <br />6.67% <br />1.67% <br />0.41 % <br />100.00% <br />% OF <br />CONTRACT FEE <br />10% <br />20% <br />34% <br />23% <br />13% <br />100%** <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 the City at <br />each loan closing as project related soft costs. See below. <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 HUD rules). UNDER THE RESERVATION SYSTEM, THE <br />ADMINISTRATIVE FEE (4% OF THE HARD COSTS EXPENDED, MAXIMUN OF $800 <br />PER LOAN) WILL BE BILLED TO TDHCA UPON THE CLOSING OF EACH LOAN <br />PROCESSED. <br />SOFT COST FEES PER LOAN CLOSED <br />Soft Costs are fees charged to each down payment assistance loan for work activities <br />preparatory to closing. Soft costs are paid outside of closing. Soft costs may vary by loan <br />closing and applicant. Therefore the following list of fees is the maximum that can be charged <br />to each loan for soft costs. However, it is agreed that Paris Living will not charge mare than <br />13 u <br />