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<br />e <br /> <br />e <br /> <br />12. Files: <br />· SETH shall prepare and review file for completeness to ensure all necessary documentation is <br />included. Within 90 days of completion of the program, the files will be delivered to the City of <br />La Porte. <br />· Records shall be maintained for a period of 5 years after the Period of Affordability. Should the <br />SETH and/or the City of La Porte terminate or end any agreements to administer the Homebuyers <br />Program, all files shall become the property of the City of La Porte. <br /> <br />Compensation <br />Compensation for the above mentioned will occur upon a drawdown schedule mutually agreed upon by the City of <br />La Porte and SETH. This work shall not exceed seventeen thousand five hundred dollars ($17,500) without prior <br />authorization from the City. In addition, a status report and invoices shall be submitted monthly. <br /> <br />Executing this agreement signifies that all parties agree and understand the terms and responsibilities expressed in this <br />document, the scope of services, and the program description. This also means that SETH will operate the Single- <br />Family New Construction program and Down payment assistance/Closing Costs program in accordance with all <br />applicable rules and regulations of the Department of Housing and Urban Development (BUD), the County, and the <br />City. <br /> <br />Entire Agreement <br />This instrument contains the entire Agreement between the parties related to the rights herein granted and obligations <br />herein assumed. Any oral or written representations or notifications concerning this instrument shall be of no force or <br />effect excepting a subsequent modification in writing signed by both parties hereto. The headings herein are for <br />convenience only and shall have no significance in the interpretation hereof. <br /> <br />Severability <br />If any section, sentence, phrase, clause, or any part of any section, sentence, phrase, or clause, of this Agreement <br />shall, for any reason, not be legally or factually valid, such invalidity shall not affect the remaining portions of this <br />Agreement. <br /> <br />Effective Date <br />This agreement shall be in effect from and after its passage and approval. <br /> <br /> <br />eting City Manager <br />orte, Texas <br /> <br />)i~~ <br />o e <br /> <br />v~ '-//-3-0;;'" <br />Ron Williams, Executive Director ate <br />Southeast Texas Housing Finance Corp. <br /> <br />ATTEST: <br /> <br />Lj}J~~ <br /> <br />1~-1-o'). <br />Date <br /> <br />