Unearned Payments Sample Clauses

Unearned Payments. Under this contract unearned payments may be suspended or terminated if the entitlement funds to the City under HOME (24 C.F.R. Part 92) are suspended or terminated.

Unearned Payments. Under this contract unearned payments may be suspended or terminated if the entitlement funds to the City of Wichita under the HOME Investment Partnerships Program (24 CFR Part 92) are suspended or terminated. Signature Title of Mennonite Housing Officer Date By ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Mayor Date ATTEST: ▇▇▇▇▇ ▇▇▇▇▇▇▇, City Clerk Date Approved as to Form: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Date City Attorney and Director of Law It is mutually agreed and understood by the City of Wichita and ▇▇▇▇▇▇▇▇▇ Housing Rehabilitation Services, Inc., hereinafter referred to as the "City" and "Developer" (or Mennonite Housing), that execution of this contract obligates the Developer to the following performance requirements. In return for the $76,700 remuneration stated herein, the Developer agrees to undertake an affordable housing program, which will result in the acquisition and redevelopment of sites as follows: Approximately 1057 N. Ohio (Lots 45-47, Wabash Addition – exact street address to be assigned by MABCD when building permit issued.) A single-family home is to be constructed on each site described. The single-family home(s) must be sold to (an) income-eligible owner-occupant buyer(s). If any of the single-family homes are not sold as described, within a period of nine (9) months following issuance of a Certificate of Occupancy by the City of Wichita, the unsold home(s) must be converted to a single unit HOME-assisted rental project as described in Section IV of this Exhibit “B”.

Unearned Payments. Under this contract unearned payments shall be suspended or terminated upon refusal to accept any additional conditions that may be imposed by the CITY at any time, or upon the expiration or other termination of this contract.

Unearned Payments. Under this contract unearned payments may be suspended or terminated if the entitlement funds to the City of Wichita under the HOME Investment Partnerships Program (24 CFR Part 92) are suspended or terminated. Signature Title of Officer Date By ▇▇▇▇ ▇▇▇▇▇▇, Mayor Date ATTEST: ▇▇▇▇▇ ▇▇▇▇▇▇▇, City Clerk Date Approved as to Form: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇, City Attorney Date and Director of Law of the City of Wichita It is mutually agreed and understood by the City of Wichita and Power CDC, Inc., hereinafter referred to as the "City" and "Developer" (or Power CDC) respectively, that execution of this contract obligates the Developer to the following performance requirements. The Developer, a Community Housing Development Organization (CHDO), is receiving this grant funding as CHDO Set-Aside Funding, under HOME regulations, as specified in 24 CFR 92.300. In return for the $126,926 remuneration stated herein, the Developer agrees to undertake an affordable housing program, which will result in the acquisition of existing vacant homes or vacant lots located within the boundaries of any of the City’s six Local Investment Areas. Existing structures acquired for redevelopment must be vacant and unoccupied for a period of at least 90 days, and must be demolished with a new single-family home to be constructed on each site. Vacant lots owned by the Developer are eligible for development with funding provided under this agreement, provided they are located within a local investment area. Vacant lots must also be re-developed with a new single family home on each site. A minimum of four new single-family homes are to be constructed/developed and sold to eligible owner-occupant homebuyers. Housing constructed under this agreement must be re-sold to HOME-compliant owner-occupant buyers, with down payment and closing costs assistance provided through the City's HOMEownership 80 program. The City will hold the deed restrictions for this HOME assistance. (24 CFR 92.254, Qualification as Affordable Housing, Homeownership.) The Developer represents and agrees that its purchase of the properties and its other undertakings pursuant to this Agreement are, and will be, for the purpose of redevelopment of such property and not for speculation. The Developer represents and agrees that it will remain the owner of the properties until it reaches agreement with a prospective buyer(s) of the properties and, by mutual agreement, the Developer will transfer title to the prospective buyer. All H...

Unearned Payments. Under this contract unearned payments may be suspended or terminated if the entitlement funds to the City of Wichita under the HOME Investment Partnerships Program (24 CFR Part 92) are suspended or terminated. Signature Title of Hope Enterprise, Inc. Officer Date By ▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, Mayor Date ATTEST: ▇▇▇▇▇ ▇▇▇▇▇▇▇, City Clerk Date Approved as to Form: ▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇, Date City Attorney and Director of Law It is mutually agreed and understood by the City of Wichita and Hope Enterprise, Inc., hereinafter referred to as the "City" and "Developer", that execution of this contract obligates the Developer to the following performance requirements. In return for the $104,905 remuneration stated herein, the Developer agrees to undertake an affordable housing program, which will result in the acquisition and redevelopment of sites as follows: Approximately 1456 ▇. ▇▇▇ (Lots ▇▇▇-▇▇▇-▇▇▇ Strong Now Ash St., ▇▇▇▇▇ Addition to Wichita, Sedgwick County, Kansas. – Exact street address to be assigned by MABCD when building permit issued.) A single-family home is to be constructed on each site described. The single-family home(s) must be sold to (an) income-eligible owner-occupant buyer(s). If any of the single-family homes are not sold as described, within a period of nine (9) months following issuance of a Certificate of Occupancy by the City of Wichita, the unsold home(s) must be converted to a single unit HOME-assisted rental project as described in Section IV of this Exhibit “B”.

Unearned Payments. Under this contract, unearned payments may be suspended or terminated upon refusal to accept any additional conditions that may be imposed by the City or if it is determined that the transient guest tax revenues are not sufficient to meet all budgeted services and activities of the total transient guest tax budgets which are established for the year under which this contract is in effect.

Unearned Payments. Unearned payments under this Agreement may be suspended or terminated upon refusal to accept any additional conditions that may be imposed by HUD at any time, or if the Grant to the City under the Act is suspended or terminated. Unearned payments received by the Contractor will be returned to the City. All interest on funds advanced to the Contractor will be returned to the City.

Unearned Payments. Under this contract unearned payments may be suspended or terminated if the entitlement funds to the City of Wichita under the HOME Investment Partnerships Program (24 CFR Part 92) are suspended or terminated. Signature Title of Officer Date By ▇▇▇▇ ▇▇▇▇▇▇, Mayor Date ATTEST: ▇▇▇▇▇ ▇▇▇▇▇▇▇, City Clerk Date Approved as to Form: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇, City Attorney Date and Director of Law of the City of Wichita Specific HOME-assisted units that are the subject of this agreement are as follows:

Unearned Payments. Under this contract unearned payments may be suspended or terminated if the entitlement funds to the City of Wichita under the HOME Investment Partnerships Program (24 CFR Part 92) are suspended or terminated. Signature Title of Officer Date By ▇▇▇▇ ▇▇▇▇▇▇, Mayor Date ATTEST: ▇▇▇▇▇ ▇▇▇▇▇▇▇, City Clerk Date Approved as to Form: ▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇▇▇, City Attorney Date and Director of Law of the City of Wichita Specific HOME-assisted units that are the subject of this agreement are as follows: Lot 22, Block 1, Power CDC 3rd Addition to the City of Wichita, Sedgwick County, Kansas (also known as ▇▇▇▇ ▇. ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇) Lot 9, Block 1, Power CDC 3rd Addition to the City of Wichita, Sedgwick County, Kansas (also known as ▇▇▇▇ ▇. ▇▇▇▇▇ Circle, Wichita, Kansas) Lot 29, Block 1, Power CDC 3rd Addition to the City of Wichita, Sedgwick County, Kansas (also known as ▇▇▇▇ ▇. ▇▇▇▇▇ Circle, Wichita, Kansas) Lot 6, Block 1, Power CDC 3rd Addition to the City of Wichita, Sedgwick County, Kansas (also known as ▇▇▇▇ ▇. ▇▇▇▇▇ Circle, Wichita, Kansas)