Section 7564 - Mortgage Assistance Standard Agreement(a) A grantee under this Article shall execute a Mortgage Assistance Standard Agreement (MASA) with the Department.(b) The MASA shall contain the following terms and conditions: (1) Where funds committed under the MASA are to be used for development assistance pursuant to Article 6 prior to allocation as mortgage assistance to eligible households, the MASA shall contain the terms and conditions set forth in Section 7584.(2) The grantee shall indicate the estimated income levels of the households that will receive mortgage assistance and such information shall be consistent with the information provided in the approved application, pursuant to Section 7542(c)(3).(3) Prior to fund disbursement to eligible households, the grantee shall identify each eligible household which will occupy an assisted unit and the amount of mortgage assistance funds for each household.(4) On or before the sale or conveyance of a newly constructed assisted unit to an eligible household, or on or before the Department's disbursement of funds for an assisted unit to be rehabilitated, the grantee shall ensure that the eligible household which will own and/or occupy the assisted unit executes the Deferred Payment Loan agreement and related documents pursuant to Article 5.(5) Conditions for the disbursement of mortgage assistance funds to, or on behalf of, eligible households, including the allocation to eligible households of funds which have been used for development assistance shall be specified in the MASA.(6) For the duration of the MASA, the grantee shall not sell or convey the project, or any portion thereof or interest therein, except as specifically provided in the Agreement.(7) In the event of a breach of any of its conditions or covenants by the grantee or its successors in interest, the Department shall have the option to enforce the Agreement by any proceeding at law or in equity. The Department may, at its option, require the grantee or its successor in interest to repay immediately to the State the total amount of the loan then due with simple interest at 10% per annum.(8) A requirement that the grantee submit a performance report to the Department for each stage of the project. Each report shall describe the progress of the project, and shall include the estimated time to completion and a detailed itemized breakdown of grant and other expenditures. The Department shall have the right, without charges or royalty, to publish and distribute all reports, data, memoranda, bulletins or manuals developed or written by the grantee or its offices, employees or agents in its implementation of the project.(9) A provision that all books, records, documents and files of the grantee which are maintained for the project shall be available upon notice for inspection by the Department and its representatives.Cal. Code Regs. Tit. 25, § 7564
Note: Authority cited: Section 50697(d), Health and Safety Code. Reference: Sections 50696 and 50697.5, Health and Safety Code.