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$1,800 in total soft cost fees to each loan assisted. iJNDER THE RESERVATION SYSTEM,
<br />THE SOFT COST MAXIMUMS FOR EACH ITEM WILL REMAIN THE SAME, EXCEPT
<br />THAT PARIS LIVING WILL NOT CHARGE MORE THAN $1,500 IN TOTAL SOFT
<br />COSTS TO EACH LOAN ASSISTED.
<br />MAXMIUM
<br />ACTIVITY
<br />FEE
<br />1.
<br />Application Intake and Processing
<br />$ 600
<br />2.
<br />Preparation of Loan Documents
<br />100
<br />3.
<br />Site Environmental Clearance
<br />400
<br />4.
<br />Project Document Preparation
<br />100
<br />5.
<br />Property Inspection
<br />350
<br />6.
<br />Schedule of Values
<br />100
<br />7.
<br />Credit Report
<br />50
<br />8.
<br />Homebuyer Counseling
<br />300
<br />TOT
<br />AL ALLOWABLE BY TDHCA RULES:
<br />$2,000
<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 City 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 length and term of the
<br />City's contract with TDHCA including any extensions to thereof, whichever period is longer.
<br />7. It is expressly understood and agreed by the Parties to this Agreement, that Paris Living
<br />is an independent contractor, and as such, Paris Living agrees to release, defend, indemnify and
<br />hold the City of Paris, its elected officials, officers and employees harmless from and against
<br />all damages, injuries, claims, property damage, losses, demands, suits, judgments and costs
<br />including reasonable and necessary attorney's fees of any kind or character which arises from
<br />or are related to this Agreement or the services to be provided by Paris Living, its consultants,
<br />sub-consultants, employees or contractors under this Agreement.
<br />8. Paris Living shall obtain a Directors and Officers liability insurance policy in the
<br />minimum amount of One Million Dollars ($1,000,000) insuring Paris Living, its directors,
<br />officers, employees, consultants and subcontractors against any claims, demands, lawsuits,
<br />settlements or costs, including reasonable attorney's fees, arising from the negligent actions or
<br />inactions or intentional wrongful actions committed by Paris Living or its directors, officers,
<br />agents, employees, consultants and or subcontractors related to this Agreement or the services
<br />to be provided pursuant to this Agreement.
<br />9. Paris Living further agrees to administer the Homebuyer Assistance Program for the
<br />City of Paris in strict compliance with the terms and requirements of the TDHCA HOME
<br />PROGRAM, Home Contract No. 1001224 attached hereto and incorporated herein as Exhibit
<br />«A
<br />10. Paris Living further agrees that at any time during normal business hours and upon
<br />forty-eight (48) hours notice, Paris Living shall make available to representatives of the City
<br />for examination all of its records, and the records of any consultant or subcontractor hired or
<br />retained by Paris Living to administer this Program, with respect to matters covered by this
<br />Agreement, and will permit such representatives of the City to audit, examine, copy and make
<br />
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