Laserfiche WebLink
b. Service loans made to City residents: <br />1. Direct the Community Reinvestment Fund ("CRF") to collect such <br />payments pursuant to a contract dated July 2, 2000 between Consultant <br />and CRF (the "CRF Contract"). <br />2. Direct CRF to take such action pursuant to the CRF Contract if there is an <br />uncured default by a borrower under a loan pursuant to an Installment <br />Loan Program. <br />3. Receive all payments made by borrowers to CRF; <br />4. Disburse all payments received by Consultant as directed, in writing, by <br />the HRA which may include disbursing the funds pursuant to one of the <br />loan programs described in this Agreement. <br />c. Assist City residents considering rehabilitation, including property visits, meet <br />with homeowners and potential contractors, suggest alternatives for rehabilitation <br />to homeowners, educate homeowners on the construction bid process, assist <br />homeowners to evaluate bids and work completed and construction progress. <br />d. Provide HRC housing information to City residents, including information on <br />emergency assistance, housing rehabilitation, first time homebuyers and limited <br />rental information; <br />e. Assist the HRA in developing programs to purchase and rehabilitate homes; <br />£ Coordinate these services out of Consultant's NorthMetro office; and <br />g. Have Consultant's staff visit residences as determined necessary by Consultant. <br />2. Term. This Agreement shall be in full force and effect from January 1, 2009 and <br />shall continue through December 31, 2009, unless otherwise terminated as set forth below. <br />3. Compensation. <br />Loan Administration. For services provided under this Agreement, the <br />HRA shall pay to the Consultant Thirty Thousand Dollars ($30,000.00) <br />within thirty (30) days after execution of this Agreement. <br />The Consultant shall receive compensation for administering the 1V�IFA Programs <br />directly from the Minnesota Housing Finance Agency and not from the HRA. <br />4. Termination. Notwithstanding any other provision hereof to the contrary, this <br />Agreement may be terminated as follows: <br />a. The parties, by mutual written agreement, may terminate this Agreement at any <br />time in which case the parties shall agree to the amount of fees payable to <br />Consultant. <br />fb.us.3166730.04 2 <br />