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B. The County has set aside certain moneys from the Affordable and Attainable Housing Tax revenues <br />for the creation and development of new affordable housing units within the boundaries of its <br />jurisdiction, and specifically, to fund capital projects in the County of Boulder meeting criteria <br />established by the Board of County Commissioners (the "Board") and consistent with Resolution 2023- <br />070 (the "Affordable Housing Grant Program"). <br />C. The Board has established an Affordable Housing Development Fund Advisory Committee <br />("Committee") to provide advisory support related to Affordable Housing Grant Program funds that will <br />be used for capital projects located within unincorporated Boulder County or any municipality therein <br />other than the Cities of Longmont and Boulder. <br />D. The Committee has recommended, and the BOCC has approved, funding for the capital projects <br />described in further detail on Exhibit A — Project Details & Use of Funds (each a "Project'). <br />AGREEMENT <br />1. Incorporation into Agreement. The Summary, Recitals, and Agreement Documents are <br />incorporated into this Agreement. <br />2. Use of Funds. Recipient will cause the Funding Amount to be used solely for the purposes <br />set forth on Exhibit A and in compliance with the terms of this Agreement. The Funding Amount <br />may not be used (a) to replace another source of funding that is appropriated, allocated or <br />otherwise available to support a Project or (b) make payments to a jurisdiction in order to relieve <br />performance obligations related to development of affordable housing. <br />3. Term. As to each Project, the term of this Agreement begins on the Start Date and is in effect <br />through its applicable Affordability Period, as defined in Exhibit A. <br />4. Payment of Grant Funding. County will disperse the Funding Amount for each Project in <br />accordance with Exhibit A — Project Details & Use of Funds. <br />5. Proiect Partners. Recipient may transfer the Funding Amount for a Project to a third party <br />governmental entity or nonprofit affordable housing provider for purposes of undertaking a Project <br />in strict compliance with this Agreement ("Project Partner") only if Recipient (a) causes the Project <br />Partner to comply with the terms of this Agreement, and (b) remains liable to the County for all <br />obligations hereunder. <br />6. Records. During the term of this Agreement and for five years thereafter, Recipient must collect <br />and retain adequate documentation and reasonable records related in any manner to this <br />Agreement and the Projects, including supporting documentation for all expenditures of the <br />Funding Amount, contracts, purchase orders, invoices, records, communications, financial <br />statements, notes and other written materials, electronic media files, and communications ("Project <br />Records") <br />7. Monitoring. County may access, audit, review and copy Project Records at any time for <br />purposes of confirming compliance with this Agreement. County may conduct periodic site visits of <br />a Project at reasonable times and upon at least 48 hours advance notice for purposes of confirming <br />compliance with this Agreement. <br />8. Event of Default. An "Event of Default" will occur if: <br />a. Recipient fails to perform any of its obligations under, or otherwise comply with the terms of, <br />this Agreement and does not cure such failure within 30 days after County provides written <br />notice specifying the non-compliance; <br />b. All or any part of Recipient's or a Project Partner's interest in a Project is transferred without the <br />County's prior written consent; <br />2 <br />Approved for use by the Boulder County Attorney's Office <br />