Common use of Unearned Payments Clause in Contracts

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. Mennonite Housing Rehabilitation Services, Inc. (Mennonite Housing) Signature Title of Mennonite Housing Officer Date CITY OF WICHITA By Xxxxxxx X. Xxxxxxx, Mayor Date ATTEST: Xxxxx Xxxxxxx, City Clerk Date Approved as to Form: Xxxxxxxx Xxxxxx, Date City Attorney and Director of Law Exhibit B PERFORMANCE CRITERIA AND CONTRACT OBJECTIVES It is mutually agreed and understood by the City of Wichita and Mennonite 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 $205,000 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 000 X. Xxxxxxx, PIN 00135632 Approximately 2320 N. Volutsia, PIN 00170194, (West ½ of Xxx 00, Xxxxxxxx Xxxxxxx Addition) Approximately 2319 N. Erie, PIN 00170194, (East ½ of Xxx 00, Xxxxxxxx Xxxxxxx Addition) 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 if the entitlement funds to the City of Wichita under the HOME Investment Partnerships Program (24 CFR Part 92) are suspended or terminated. Mennonite Housing Rehabilitation Services, Inc. (Mennonite Housing) Signature Title of Mennonite Housing Officer Date CITY OF WICHITA By Xxxxxxx X. Xxxxxxx, Mayor Date ATTEST: Xxxxx Xxxxxxx, City Clerk Date Approved as to Form: Xxxxxxxx Xxxxxx, Date City Attorney and Director of Law Exhibit B PERFORMANCE CRITERIA AND CONTRACT OBJECTIVES It is mutually agreed and understood by the City of Wichita and Mennonite Xxxxxxxxx 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 $205,000 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 000 X. Xxxxxxx1057 N. Ohio (Lots 45-47, PIN 00135632 Approximately 2320 N. Volutsia, PIN 00170194, (West ½ of Xxx 00, Xxxxxxxx Xxxxxxx Addition) Approximately 2319 N. Erie, PIN 00170194, (East ½ of Xxx 00, Xxxxxxxx Xxxxxxx AdditionWabash 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 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. Mennonite Housing Rehabilitation Services, Inc. (Mennonite Housing) Signature Title of Mennonite Housing Officer Date CITY OF WICHITA By Xxxxxxx X. Xxxxxxx, Mayor Date ATTEST: Xxxxx Xxxxxxx, City Clerk Date Approved as to Form: Xxxxxxxx Xxxxxx, Date City Attorney and Director of Law Exhibit B PERFORMANCE CRITERIA AND CONTRACT OBJECTIVES It is mutually agreed and understood by the City of Wichita and Mennonite Xxxxxxxxx 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 $205,000 225,426 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 000 607 X. Xxxxxxx, PIN 00135632 Approximately 2320 N. Volutsia, PIN 00170194Xxx, (West ½ of Xxx 00, Xxxxxxxx Xxxxxxx AdditionFinal Address Number to be assigned by MABCD) Approximately 2319 N. Erie, PIN 00170194, 2015 X. Xxxxxxx (East ½ of Xxx 00, Xxxxxxxx Final Address Number to be assigned by MABCD) Approximately 2035 X. Xxxxxxx Addition(Final Address Number to be assigned by MABCD) 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 if the entitlement funds to the City of Wichita under the HOME Investment Partnerships Program (24 CFR Part 92) are suspended or terminated. Mennonite Housing Rehabilitation Services, Inc. (Mennonite Housing) Signature Title of Mennonite Housing Officer Date CITY OF WICHITA By Xxxxxxx X. Xxxxxxx, Mayor Date ATTEST: Xxxxx Xxxxxxx, City Clerk Date Approved as to Form: Xxxxxxxx Xxxxxx, Date City Attorney and Director of Law Exhibit B PERFORMANCE CRITERIA AND CONTRACT OBJECTIVES It is mutually agreed and understood by the City of Wichita and Mennonite Xxxxxxxxx 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 $205,000 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 000 X. Xxxxxxx, PIN 00135632 Approximately 2320 N. Volutsia, PIN 00170194, (West ½ of Xxx 00, Xxxxxxxx Xxxxxxx Addition) Approximately 2319 N. Erie, PIN 00170194, (East ½ of Xxx 00, Xxxxxxxx Xxxxxxx Addition) 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”.