Agreement To Enter Into Housing Assistance Payments Contract

(1) Provisions. (a) Prior to the commencement of any rehabilitation under this Part, the Agency must enter into an Agreement with the Owner which contains among other requirements the following: 1. A statement that the owner agrees to bring the unit(s) into compliance with the Housing Quality Standards or other standards approved for the Program in accordance with the work write-up. The work write-up and cost estimate will be an attachment to the Agreement. 2. A date by which rehabilitation will have commenced and a deadline date by which the rehabilitation will be completed and the unit(s) ready for occupancy. 3. An anticipated Contract Rent which will be paid to the Owner after rehabilitation is completed and the Contract is executed. 4. The term of the Contract. 5. If there are units in the building which will not be assisted under the Program, a statement that the Owner agrees to bring the unassisted units into compliance with the Housing Quality Standards specified in 0700-3-1-.04 or other standards established for this program by the completion date referred to in Rule 0770-3-2-.04(b). 6. The Form of Contract, as an exhibit. (2) Preparation and Execution. (a) The Agreement must be prepared by the Agency in the form prescribed by HUD and include all required information in paragraph (a) of this section and a provision specifying the Owner’s responsibility for making relocation payments to Families temporarily displaced. The Agency will provide the Owner with one executed copy of the Agreement and retain at least one copy for its records.