Common use of Term of Agreement and Performance Milestones Clause in Contracts

Term of Agreement and Performance Milestones. A. Term of Agreement: With the exception of the grant closeout procedures set forth in Exhibit B, Section 6, the Subrecipient shall complete the Approved Project(s) activities on or before the expenditure deadline identified on the STD 213 of this Agreement and identified below. Time is of the essence in order to ensure complete and compliant Projects before grant close out. All Project applications must be submitted to the Department by: 12/31/2021. Upon review and approval or rejection of all Project applications, the Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in its sole and absolute discretion. All Grant Funds must be expended by: April 30, 2025 This Agreement will expire on: August 31, 2050 B. Performance Milestones: Subrecipient shall adhere to the performance milestones below. Time is of the essence with respect to all such milestones. 1. No later than six (6) months after execution of this Agreement, Subrecipient shall initiate the PSP to develop a list of qualified multifamily development Projects for submission to the Department for Project funding review and possible funding approval. 2. No later than June 30, 2021, Subrecipient shall have at least one Project application submitted to the Department for review and possible funding approval. 3. No later than December 31, 2021, Subrecipient shall submit all Project applications for Activity Funds. 4. No later than December 31, 2022, Subrecipient shall satisfy all conditions required for the Department to issue NTPs for all Approved Projects. 5. No later than April 30, 2023, Subrecipient shall provide evidence of active construction for all Approved Projects. 6. No later than January 31, 2025, Subrecipient shall provide a copy of the Certificate of Occupancy for all Approved Projects. 7. No later than April 30, 2025, Subrecipient shall provide all required closeout documentation as detailed in Exhibit B, Section 6 herein, for all Approved Projects. 8. The Subrecipient must maintain compliance with the Housing Element requirements detailed in Health and Safety Code (HSC) 50829 and 50830 for the duration of this Agreement. Failure to meet performance milestones: If any performance milestones listed above are not met, the Department reserves the right to withhold further payments to Subrecipient until such time as satisfactory progress is made toward meeting the performance measures. Subrecipient shall diligently work with DR-MHP staff to submit: (a) a written mitigation plan specifying the reason for the delay; (b) the actions to be taken to complete the task that is the subject of the missed measure deadline; and, (c) the date by which the completion of said task will occur. The Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in its sole and absolute discretion if the Department determines the Subrecipient is unable to meet the performance milestones in a timely manner following the failure to meet said milestones. The Department reserves all rights and remedies available to it in case of a default by Subrecipient of its responsibilities and obligations under the terms of this Agreement. All remedies available to the Department are cumulative and not exclusive. C. The Subrecipient and its Contractors and Developers, as applicable, shall adhere to all performance and Project milestones as established above and in each Approved Project NTP.

Term of Agreement and Performance Milestones. A. Term of Agreement: With the exception of the grant closeout procedures set forth in Exhibit B, Section 6, the Subrecipient shall complete the Approved Project(s) activities on or before the expenditure deadline identified on the STD 213 of this Agreement and identified below. Time is of the essence in order to ensure complete and compliant Projects before grant grants close out. All Project applications must be submitted to the Department by: 12/31/202112/31/2022. Upon review and approval or rejection of all Project applications, the Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion. Expenditure Deadline: All Grant Funds must be expended by: April 30August 31, 2025 2026 This Agreement will expire on: August 31, 20502051 B. Performance Milestones: Subrecipient shall adhere to the performance milestones below. Time is of the essence with respect to all such milestones. 1. No later than six (6) months after execution of this Agreement, Subrecipient shall initiate the PSP to develop a list of qualified multifamily development Projects for submission to the Department for Project funding review and possible funding approval. 2. No later than June 30, 20212022, Subrecipient shall have at least one Project application submitted to the Department for review and possible funding approval. 3. No later than December 31, 20212022, Subrecipient shall submit all Project applications for Activity Funds. 4. No later than December 31, 20222023, Subrecipient shall satisfy all conditions required for the Department to issue NTPs for all Approved Projects. 54. No later than April 30, 20232024, Subrecipient shall provide evidence of active construction for all Approved Projects. 65. No later than January May 31, 20252026, Subrecipient shall provide a copy of the Certificate of Occupancy for all Approved Projects. 76. No later than April 30August 31, 20252026, Subrecipient shall provide all required closeout documentation as detailed in Exhibit B, Section 6 herein, for all Approved Projects. 87. The Subrecipient must maintain compliance with the Housing Element requirements detailed in Health and Safety Code (“HSC”) Sections 50829 and 50830 for the duration of this Agreement. Failure to meet performance milestones: If any performance milestones listed above are not met, the Department reserves the right to withhold further payments to Subrecipient until such time as satisfactory progress is made toward meeting the performance measures. Subrecipient shall diligently work with DR-MHP staff to submit: (a) a written mitigation plan specifying the reason for the delay; (b) the actions to be taken to complete the task that is the subject of the missed measure deadline; and, (c) the date by which the completion of said task will occur. The Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion if the Department determines the Subrecipient is unable to meet the performance milestones in a timely manner following the failure to meet said milestones. The Department reserves all rights and remedies available to it in case of a default by Subrecipient of its responsibilities and obligations under the terms of this Agreement. All remedies available to the Department are cumulative and not exclusive. C. The Subrecipient and its Contractors and Developers, as applicable, shall adhere to all performance and Project milestones as established above and in each Approved Project NTP.

Term of Agreement and Performance Milestones. A. Term of Agreement: With the exception of the grant closeout procedures set forth in Exhibit B, Section 6, the Subrecipient shall complete the Approved Project(s) activities on or before the expenditure deadline identified on the STD 213 of this Agreement and identified below. Time is of the essence in order to ensure complete and compliant Projects before grant grants close out. All Project applications must be submitted to the Department by: 12/31/202112/31/2022. Upon review and approval or rejection of all Project applications, the Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion. Expenditure Deadline: All Grant Funds must be expended by: April 30August 31, 2025 2026 This Agreement will expire on: August 31, 20502051 B. Performance Milestones: Subrecipient shall adhere to the performance milestones below. Time is of the essence with respect to all such milestones. 1. No later than six (6) months after execution of this Agreement, Subrecipient shall initiate the PSP to develop a list of qualified multifamily development Projects for submission to the Department for Project funding review and possible funding approval. 2. No later than June 30, 20212022, Subrecipient shall have at least one Project application submitted to the Department for review and possible funding approval. 3. No later than December 31, 20212022, Subrecipient shall submit all Project applications for Activity Funds. 4. No later than December 31, 20222023, Subrecipient shall satisfy all conditions required for the Department to issue NTPs for all Approved Projects. 5. No later than April 30, 20232024, Subrecipient shall provide evidence of active construction for all Approved Projects. 6. No later than January May 31, 20252026, Subrecipient shall provide a copy of the Certificate of Occupancy for all Approved Projects. 7. No later than April 30August 31, 20252026, Subrecipient shall provide all required closeout documentation as detailed in Exhibit B, Section 6 herein, for all Approved Projects. 8. The Subrecipient must maintain compliance with the Housing Element requirements detailed in Health and Safety Code (“HSC”) Sections 50829 and 50830 for the duration of this Agreement. . C. Failure to meet performance milestones: If any performance milestones listed above are not met, the Department reserves the right to withhold further payments to Subrecipient until such time as satisfactory progress is made toward meeting the performance measures. Subrecipient shall diligently work with DR-MHP staff to submit: (a) a written mitigation plan specifying the reason for the delay; (b) the actions to be taken to complete the task that is the subject of the missed measure deadline; and, (c) the date by which the completion of said task will occur. The Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion if the Department determines the Subrecipient is unable to meet the performance milestones in a timely manner following the failure to meet said milestones. The Department reserves all rights and remedies available to it in case of a default by Subrecipient of its responsibilities and obligations under the terms of this Agreement. All remedies available to the Department are cumulative and not exclusive. C. D. The Subrecipient and its Contractors and Developers, as applicable, shall adhere to all performance and Project milestones as established above and in each Approved Project NTP.

Term of Agreement and Performance Milestones. A. Term of Agreement: With the exception of the grant closeout procedures set forth in Exhibit B, Section 6, the Subrecipient shall complete the Approved Project(s) activities on or before the expenditure deadline identified on the STD 213 of this Agreement and identified below. Time is of the essence in order to ensure complete and compliant Projects before grant grants close out. All Project applications must be submitted to the Department by: 12/31/202112/31/2022. Upon review and approval or rejection of all Project applications, the Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion. Expenditure Deadline: All Grant Funds must be expended by: April 30August 31, 2025 2026 This Agreement will expire on: August 31, 20502051 B. A. Performance Milestones: Subrecipient shall adhere to the performance milestones below. Time is of the essence with respect to all such milestones. 1. No later than six (6) months after execution of this Agreement, Subrecipient shall initiate the PSP to develop a list of qualified multifamily development Projects for submission to the Department for Project funding review and possible funding approval. 2. No later than June 30, 20212022, Subrecipient shall have at least one Project application submitted to the Department for review and possible funding approval. 3. No later than December 31, 20212022, Subrecipient shall submit all Project applications for Activity Funds. 4. No later than December 31, 20222023, Subrecipient shall satisfy all conditions required for the Department to issue NTPs for all Approved Projects. 54. No later than April 30, 20232024, Subrecipient shall provide evidence of active construction for all Approved Projects. 65. No later than January May 31, 20252026, Subrecipient shall provide a copy of the Certificate of Occupancy for all Approved Projects. 76. No later than April 30August 31, 20252026, Subrecipient shall provide all required closeout documentation as detailed in Exhibit B, Section 6 herein, for all Approved Projects. 87. The Subrecipient must maintain compliance with the Housing Element requirements detailed in Health and Safety Code (“HSC”) Sections 50829 and 50830 for the duration of this Agreement. Failure to meet performance milestones: If any performance milestones listed above are not met, the Department reserves the right to withhold further payments to Subrecipient until such time as satisfactory progress is made toward meeting the performance measures. Subrecipient shall diligently work with DR-MHP staff to submit: (a) a written mitigation plan specifying the reason for the delay; (b) the actions to be taken to complete the task that is the subject of the missed measure deadline; and, (c) the date by which the completion of said task will occur. The Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion if the Department determines the Subrecipient is unable to meet the performance milestones in a timely manner following the failure to meet said milestones. The Department reserves all rights and remedies available to it in case of a default by Subrecipient of its responsibilities and obligations under the terms of this Agreement. All remedies available to the Department are cumulative and not exclusive. C. A. The Subrecipient and its Contractors and Developers, as applicable, shall adhere to all performance and Project milestones as established above and in each Approved Project NTP.

Term of Agreement and Performance Milestones. A. Term of Agreement: With the exception of the grant closeout procedures set forth in Exhibit B, Section 6, the Subrecipient shall complete the Approved Project(s) activities on or before the expenditure deadline identified on the STD 213 of this Agreement and identified below. Time is of the essence in order to ensure complete and compliant Projects before grant grants close out. All Project applications must be submitted to the Department by: 12/31/202112/31/2022. Upon review and approval or rejection of all Project applications, the Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion. Expenditure Deadline: All Grant Funds must be expended by: April 30August 31, 2025 2026 This Agreement will expire on: August 31, 20502051 B. Performance Milestones: Subrecipient shall adhere to the performance milestones below. Time is of the essence with respect to all such milestones. 1. No later than six (6) months after execution of this Agreement, Subrecipient shall initiate the PSP to develop a list of qualified multifamily development Projects for submission to the Department for Project funding review and possible funding approval. 2. No later than June 30, 20212022, Subrecipient shall have at least one Project application submitted to the Department for review and possible funding approval. 3. No later than December 31, 20212022, Subrecipient shall submit all Project applications for Activity Funds. 4. No later than December 31, 20222023, Subrecipient shall satisfy all conditions required for the Department to issue NTPs for all Approved Projects. 5. No later than April 30, 20232024, Subrecipient shall provide evidence of active construction for all Approved Projects. 6. No later than January May 31, 20252026, Subrecipient shall provide a copy of the Certificate of Occupancy for all Approved Projects. 7. No later than April 30August 31, 20252026, Subrecipient shall provide all required closeout documentation as detailed in Exhibit B, Section 6 herein, for all Approved Projects. 8. The Subrecipient must maintain compliance with the Housing Element requirements detailed in Health and Safety Code (“HSC”) Sections 50829 and 50830 for the duration of this Agreement. Failure to meet performance milestones: If any performance milestones listed above are not met, the Department reserves the right to withhold further payments to Subrecipient until such time as satisfactory progress is made toward meeting the performance measures. Subrecipient shall diligently work with DR-MHP staff to submit: (a) a written mitigation plan specifying the reason for the delay; (b) the actions to be taken to complete the task that is the subject of the missed measure deadline; and, (c) the date by which the completion of said task will occur. The Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion if the Department determines the Subrecipient is unable to meet the performance milestones in a timely manner following the failure to meet said milestones. The Department reserves all rights and remedies available to it in case of a default by Subrecipient of its responsibilities and obligations under the terms of this Agreement. All remedies available to the Department are cumulative and not exclusive. C. The Subrecipient and its Contractors and Developers, as applicable, shall adhere to all performance and Project milestones as established above and in each Approved Project NTP.

Term of Agreement and Performance Milestones. A. Term of Agreement: With the exception of the grant closeout procedures set forth in Exhibit B, Section 6, the Subrecipient shall complete the Approved Project(s) activities on or before the expenditure deadline identified on the STD 213 of this Agreement and identified below. Time is of the essence in order to ensure complete and compliant Projects before grant grants close out. All Project applications must be submitted to the Department by: 12/31/202112/31/2022. Upon review and approval or rejection of all Project applications, the Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion. Expenditure Deadline: All Grant Funds must be expended by: April 30August 31, 2025 2026 This Agreement will expire on: August 31, 20502051 B. A. Performance Milestones: Subrecipient shall adhere to the performance milestones below. Time is of the essence with respect to all such milestones. 1. No later than six (6) months after execution of this Agreement, Subrecipient shall initiate the PSP to develop a list of qualified multifamily development Projects for submission to the Department for Project funding review and possible funding approval. 2. No later than June 30, 20212022, Subrecipient shall have at least one Project application submitted to the Department for review and possible funding approval. 3. No later than December 31, 20212022, Subrecipient shall submit all Project applications for Activity Funds. 4. No later than December 31, 20222023, Subrecipient shall satisfy all conditions required for the Department to issue NTPs for all Approved Projects. 54. No later than April 30, 20232024, Subrecipient shall provide evidence of active construction for all Approved Projects. 65. No later than January May 31, 20252026, Subrecipient shall provide a copy of the Certificate of Occupancy for all Approved Projects. 76. No later than April 30August 31, 20252026, Subrecipient shall provide all required closeout documentation as detailed in Exhibit B, Section 6 herein, for all Approved Projects. 87. The Subrecipient must maintain compliance with the Housing Element requirements detailed in Health and Safety Code (“HSC”) Sections 50829 and 50830 for the duration of this Agreement. Failure to meet performance milestones: If any performance milestones listed above are not met, the Department reserves the right to withhold further payments to Subrecipient until such time as satisfactory progress is made toward meeting the performance measures. Subrecipient shall diligently work with DR-MHP staff to submit: (a) a written mitigation plan specifying the reason for the delay; (b) the actions to be taken to complete the task that is the subject of the missed measure deadline; and, (c) the date by which the completion of said task will occur. The Department reserves the right to reallocate unobligated Grant Funds within the DR-MHP program, in at its sole and absolute discretion if the Department determines the Subrecipient is unable to meet the performance milestones in a timely manner following the failure to meet said milestones. The Department reserves all rights and remedies available to it in case of a default by Subrecipient of its responsibilities and obligations under the terms of this Agreement. All remedies available to the Department are cumulative and not exclusive. C. A. The Subrecipient and its Contractors and Developers, as applicable, shall adhere to all performance and Project milestones as established above and in each Approved Project NTP.