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<br />Manager for Development Services or his/her designee. <br /> <br />c. Reserved. <br /> <br />d. Inspections. Developer shall inspect the Property to <br />assure that it meets Housing Quality Standards and conforms with <br />the applicable federal, state and/or local requirements and this <br />Agreement. The City reserves the right to inspect the Property at <br />any time during the period of time set forth in Section 3 of this <br />Agreement. Such inspection shall occur at least annually during <br />said period of time. <br /> <br />2. Disbursement of Funds. 24 CFR 92.504(c) (10). Developer shall <br />not request disbursement of any portion of the Grant until the <br />funds are needed to pay eligible costs. The total amount to be <br />placed into escrow shall be limited to the amount needed. The <br />City shall have the right to disapprove any request if the City <br />determines the request is for an ineligible item or is otherwise <br />not in compliance with or is inconsistent with this Agreement. <br /> <br />Grant proceeds used for actual costs shall be placed in an non- <br />interest bearing escrow account with united States Escrow or at <br />such other institution as City requires in compliance with federal <br />regulations found at 24 CFR 511 (the "Escrow Account"). Upon <br />wri tten request of Developer, City will request disbursement of <br />funds from the escrow account. All funds disbursed to Developer <br />shall be received by Developer in trust and Developer agrees that <br />the same shall be used only for the payment of these items <br />contemplated by the particular disbursement. <br /> <br />3. Minimum Use Period. 24 CFR 574.310 (c) . Developer agrees <br />that the Property will be used as a facility to provide housing or <br />assistance for individuals with AIDS or related diseases for a <br />period of not less than 10 years. <br /> <br />4. Eliaible Occupants. 24 CFR 574.3. 24 CFR 573.310(e). <br /> <br />Occupancy of the Property shall be limited to Eligible Persons and <br />their Families. For the purpose of this Agreement: <br /> <br />a. <br />related <br />Family. <br /> <br />"Eligible Person" shall mean a person with AIDS or a <br />disease who is a low-income individual, and the person's <br /> <br />b. "family" shall mean a household composed of one or two <br />related persons. The term "Family" also includes a person who is <br />determined to be important to the care or well-being of the <br />Eligible Person, and the surviving member or members of any family <br />described in this paragraph who were living in a dwelling unit on <br />the Property with the person with AIDS at the time of his or her <br />death. <br /> <br />Straight Talk Development Agreement <br />7/18/2007 <br /> <br />2 <br />