STATE OF NEW JERSEY, DEPARTMENT OF COMMUNITY AFFAIRS LANDLORD GRANT AGREEMENT LANDLORD RENTAL REPAIR PROGRAM ( LRRP )

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1 STATE OF NEW JERSEY, DEPARTMENT OF COMMUNITY AFFAIRS LANDLORD GRANT AGREEMENT LANDLORD RENTAL REPAIR PROGRAM ( LRRP ) THIS AGREEMENT is made by and between the STATE OF NEW JERSEY, DEPARTMENT OF COMMUNITY AFFAIRS, having offices at 101 South Broad Street, Trenton, NJ (hereinafter STATE or DCA ) and LANDLORD (hereinafter LANDLORD ) for property and units (hereinafter PROPERTY ) as identified in Exhibit 1. WHEREAS, through the Disaster Relief Appropriations Act of 2013, Public Law 113-2, the U.S. Congress appropriated funds to the U.S. Department of Housing and Urban Development ( HUD ) for its Community Development Block Grant Disaster Recovery Program ( CDBG- DR Program ) to assist the State of New Jersey and other states impacted by Superstorm Sandy; WHEREAS, in accordance with the laws and regulations governing the CDBG-DR Program, STATE has submitted an Action Plan to HUD, which Action Plan was approved on April 29, 2013, through which STATE has created the Fund for Rehabilitation of Small Rental Properties, more commonly referred to as the Landlord Rental Repair Program (hereinafter LRRP ), to provide grants to existing and new owners of affordable rental properties with one to twenty-five (25) units requiring rehabilitation. LRRP will help landlords whose rental housing units were damaged by Superstorm Sandy to recover, enabling them to offer rental housing at affordable rates to low-to-moderate income households; WHEREAS, LRRP provides grants of CDBG-DR Program funds ( Grant Funds ) to eligible landlords in amounts up to $50,000 per affordable rental housing unit to pay eligible costs of rehabilitation work in excess of resources currently or hereafter received or available to the LANDLORD including, but not limited to, insurance proceeds, FEMA assistance, SBA assistance, and non-profit corporations or associations assistance (which are considered duplicative benefits under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, (42 U.S.C. 5155)); WHEREAS, the LRRP grant is provided for a property containing between one and twenty-five (25) damaged rental housing units, and this Agreement pertains to the rehabilitation or reconstruction of ALL units identified for Grant Funds in Exhibit 1 of the PROPERTY owned by LANDLORD. NOW THEREFORE, IN CONSIDERATION OF THE PROMISES, COVENANTS AND AGREEMENTS SET FORTH HEREIN, THE PARTIES AGREE AS FOLLOWS: 1

2 1. LRRP GRANT: The STATE agrees to provide a grant in an amount up to the maximum specified in Exhibit 1, for the benefit of the LANDLORD which shall be used for the purposes of rehabilitation or, in some cases, the reconstruction and/or elevation of the PROPERTY, including all identified and eligible units, located at the address(es) noted in Exhibit DUPLICATION OF BENEFITS: CDBG-DR Program rules require that LANDLORD receive no more funds than needed for rehabilitation or reconstruction of the PROPERTY. A duplication of benefits ( DOB ) analysis has been performed to account for all of the funds that the LANDLORD received for LRRP work on the PROPERTY including, but not limited to insurance, FEMA and SBA assistance, and any assistance from other sources (e.g., non-profit corporations and associations). The LANDLORD has reviewed and accepts the DOB analysis and understands that the grant award amount reflects adjustments made as a result of that analysis. The DOB analysis and grant award calculation are attached at Exhibit 1. The LANDLORD understands and agrees that the amount of the award shown in Exhibit 1 is subject to change upon completion of construction based upon the actual cost of the work performed on the PROPERTY and any changes in the funds the LANDLORD receives from other sources after the date the original duplication of benefits calculation was completed. 3. REPRESENTATIONS BY LANDLORD: LANDLORD hereby makes the following material representations which have been relied upon by the STATE as essential to its determination of the eligibility of the LANDLORD to receive the Grant Funds: A. LANDLORD attests that the PROPERTY sustained damage as a result of Superstorm Sandy and requires rehabilitation, reconstruction or elevation. B. LANDLORD affirms that the PROPERTY has twenty-five (25) rental units or less. C. LANDLORD attests that he/she has truthfully and completely provided all necessary information and documentation, including the amounts and sources of any insurance, FEMA assistance, SBA assistance, or other funds for the rehabilitation, reconstruction or elevation of the PROPERTY, to the STATE in support of his/her application to receive Grant Funds. D. LANDLORD attests that he/she has not received any federal disaster funds conditioned on obtaining flood insurance or, if he/she has received federal disaster funds conditioned on obtaining flood insurance, LANDLORD has maintained requisite flood insurance. E. For properties with three (3) or more units, LANDLORD has registered with the Bureau of Housing Inspection and holds a valid DCA Green Card. LANDLORD acknowledges and agrees that if any of the representations made by LANDLORD under this Paragraph 3 are willfully false or fraudulent, the STATE may immediately declare LANDLORD in default of the Grant Agreement, allowing for the remedies in Paragraph 18. 2

3 4. COVENANTS BY LANDLORD: A. LANDLORD pledges to use contractors licensed by the State of New Jersey, who are not debarred. B. LANDLORD pledges to rent the PROPERTY to household(s) whose aggregate income does not exceed 80 percent of the median income of the applicable county, as determined by HUD (use of uncapped income limits is applicable) ( LMI household ), within sixty (60) calendar days of project completion, for a minimum term of one (1) year for forprofit LANDLORDS, or five (5) years for non-profit LANDLORDS. In the event that the PROPERTY is not rented within the prescribed period, the LANDLORD may request an extension that may be granted at the discretion of DCA. C. LANDLORD pledges that rent(s) shall be considered affordable rates, which is defined as not to exceed 30 percent of the monthly income for a household earning 80 percent of the median income for the applicable county, as determined by HUD, after project completion. D. If required by Federal Emergency Management Agency flood zone requirements or by the municipality where the PROPERTY is located, and PROPERTY is deemed substantially damaged, LANDLORD pledges to elevate PROPERTY to one (1) foot above the base flood elevation, or as determined by local ordinance, whichever is greater ( Elevation Standards ), within one (1) year from the date of the grant award, unless granted an extension by the STATE in writing. E. LANDLORD pledges to comply with the DCA Affirmative Fair Housing Marketing Plan and the requirements of the Fair Housing Act (42 U.S.C et seq.), prohibiting discrimination based on race, color, religion, sex, national origin, familial status, or disability. DCA shall provide technical assistance on these requirements. F. LANDLORD shall permit authorized representatives of DCA and the LRRP program manager to access the site. During construction, LANDLORD will not interfere in repair areas and will schedule any visits to the construction site to minimize safety risks. G. LANDLORD will truthfully and completely provide all necessary information and documentation pertaining to prospective tenants to DCA prior to lease execution. LANDLORD must utilize the model lease provided by DCA or have the LANDLORD s lease amended to include LRRP requirements. All leases and income documentation are subject to review and approval by DCA. LANDLORD acknowledges and agrees that if he/she fails to perform any of the above covenants, the STATE may immediately declare LANDLORD in default of the Grant Agreement, allowing for the remedies in Paragraph TERM OF COVENANTS: LANDLORD shall sign a Declaration of Restrictive Covenants that the STATE will record against the title of the PROPERTY to run with the land to guarantee compliance with all Program requirements. The compliance period will begin on the first day of an approved lease for the last housing unit rented on the PROPERTY, and will expire after: A. One (1) year for for-profit landlords; B. Five (5) years for non-profit landlords; and 3

4 C. Presentation of proof of elevation to DCA, if required. At the expiration of the compliance period, the terms of the Declaration of Restrictive Covenants shall be deemed satisfied. 6. LRRP GRANT PROJECT PROCESS: LANDLORD agrees to the scope of work (represented in Exhibit 1 under Total Development Cost ) as prepared by a LRRP program manager. Payment of the Grant Funds will be made to LANDLORD upon DCA s verification that construction costs are necessary and reasonable. LANDLORD is responsible for obtaining all necessary and required permits and using contractors registered in the State of New Jersey. LANDLORD will obtain certificate(s) of occupancy for PROPERTY and completed Flood Elevation Certificate, if applicable, within one (1) year from the date of Grant Award signing. LANDLORD will affirmatively seek and place a tenant (LMI household) at an affordable rate in the unit for a minimum of a one-year or a five-year lease, as applicable. 7. PAYMENTS TO LANDLORD: LANDLORD agrees as follows: A. LANDLORD shall directly receive Grant Funds for the reimbursement portion of the award and for work completed under engagement of LANDLORD s own/existing contractor, and in accordance with state and federal laws and regulations. B. For PROPERTY where work has been completed prior to the LRRP application date, as allowed by HUD guidance dated July 30, 2013, a reimbursement grant for eligible LRRP expenses shall be allowed. C. For PROPERTY where the rehabilitation work is not complete, Grants Funds shall be paid to LANDLORD upon completion of all rehabilitation or reconstruction improvements and delivery of a certificate of occupancy and Flood Elevation Certificate for all LRRP assisted units, unless an interim payment is specifically authorized by DCA. D. Total Grant Award is comprised of the Total Development Cost, as set forth in Exhibit 1, and a fifteen percent (15%) contingency, not to exceed a maximum grant amount of $50,000 per affordable rental housing unit. LANDLORD may request up to the maximum grant amount supported by actual costs. In the event that the total cost of the rehabilitation or reconstruction work exceeds the Grant Award, LANDLORD is responsible for securing funds to complete all construction work necessary to obtain a certificate of occupancy. 8. TENANT RELOCATION: Costs incurred for tenant relocation, including but not limited to move-in and move-out costs, will be paid for by LANDLORD. 9. NO ASSIGNMENT: LANDLORD shall not assign his/her obligations or interest under this Grant Agreement. 10. DEFERRAL OF EXERCISE OF STATE S RIGHTS: No delay or omission by the STATE to exercise any right or power shall impair the STATE regarding such right or power, or 4

5 shall be construed to be a waiver thereof. The STATE may exercise any such right and power from time to time and as often as may be deemed expedient by the STATE. 11. GOVERNING LAW AND JURISDICTION: The rights and obligations of the parties, and the terms and conditions of this Grant Agreement shall be governed by the laws of the State of New Jersey. LANDLORD hereby consents to the jurisdiction of the Superior Court of New Jersey and agrees that any lawsuits of any nature pertaining to this Grant Agreement shall be brought in that Court only. 12. AMENDMENTS MUST BE IN WRITING: This Grant Agreement, the Exhibits attached hereto, and the Declaration of Restrictive Covenants constitute the entire agreement between the STATE and the LANDLORD, and supersede all prior agreements, representations and/or understandings, whether oral or written. The terms and conditions of this Grant Agreement may only be amended by written agreement signed by the STATE and LANDLORD. 13. RISK OF LOSS: LANDLORD shall insure the PROPERTY with insurance companies licensed to do business in New Jersey in such a manner and against such loss, damage and liability to third parties as is customary. 14. OTHER DOCUMENTATION REQUIREMENTS: LANDLORD shall execute any other documents, including but not limited to the Declaration of Restrictive Covenants, as applicable, required by STATE to process the Grant Funds. 15. COOPERATION BY LANDLORD: LANDLORD shall use good faith and best efforts to cooperate with the program administrators and to timely respond to requests or provide documentation, approvals and inspections as necessary. 16. AVAILABILITY OF FUNDS: LANDLORD recognizes and agrees that funding awarded under this Grant Agreement is expressly dependent upon the availability of CDBG-DR funds from HUD for the LRRP. Neither DCA, nor the State of New Jersey shall be liable for the failure to provide funding for any grant awarded hereunder because of the absence of CDBG-DR funding from HUD for the LRRP. 17. DEFAULT: Any one of the following events shall constitute a default under this Grant Agreement: A. Failure to perform any covenant or promise under this Grant Agreement; B. Making any false or misleading representation or warranty in this Grant Agreement, in the application for the Grant, or in any report, certificate, financial statement or other document furnished in connection with the PROPERTY; C. Seizure or foreclosure of PROPERTY pursuant to process of law, unless stayed or bonded within thirty (30) calendar days of the occurrence of same; or D. If any default, as defined hereunder, has occurred and remains uncured under any other agreement entered into between the STATE and the LANDLORD. 18. REMEDIES UPON DEFAULT: Upon a default, the STATE, after giving notice and 5

6 reasonable opportunity to cure the default may, in its sole discretion, do any of the following: A. Terminate this Grant Agreement; B. File an action at law against LANDLORD to obtain a judgment to recover the full amount of any Grant Award; or C. Pursue any other remedies against the LANDLORD including any civil and criminal remedies allowed by law. The STATE s rights under this Paragraph 18 shall survive termination of the Grant Agreement. Failure by the STATE to seek the prompt performance of LANDLORD s obligations under this Grant Agreement is not a waiver by the STATE of any of its rights hereunder. 19. INDEMNIFICATION: LANDLORD assumes all risks and responsibilities for all claims, demands, suits, actions, recoveries, and judgments (including related expenses), and for all damages sustained by reason of property loss, personal injury or any other losses which arise from or result directly or indirectly from this Grant Agreement. LANDLORD agrees to indemnify and hold harmless the STATE and its respective members, agents, officers, employees and servants from all losses, claims, damages, liabilities, and costs whatsoever brought by any person or entity, and caused by, related to, arising or purportedly arising out of or from the PROPERTY. The provisions of this Paragraph 19 shall survive the expiration or earlier termination of this Grant Agreement. 20. LEGAL ACTION: If a lawsuit or other action of any kind is instituted by or on behalf of the STATE against the LANDLORD related to this Grant Agreement, LANDLORD agrees to pay additional sums that a court may adjudge for reasonable attorney fees, and to pay all costs and other fees incurred by or on behalf of the STATE for this lawsuit or other action. 21. COMPLY WITH ALL LAWS: LANDLORD will comply with all federal, state and municipal laws, regulations and rules applicable to the PROPERTY, whether or not cited herein. 22. MISCELLANEOUS: A. All notices and other communications shall be in writing and shall be deemed duly given when ed, with confirmation of notification, when personally delivered, or when sent by United States mail, registered or certified, return receipt requested, postage prepaid, to the addresses set forth hereunder: DCA: Director, Sandy Recovery Division, Department of Community Affairs 101 South Broad Street, PO Box 823 Trenton, NJ LANDLORD: [Mailing Address per Exhibit 1] B. The rights and remedies of the STATE under this Agreement shall be subject to the New Jersey Tort Claims Act, N.J.S.A. 59:1-1, et seq., and the New Jersey Contractual Liability Act, N.J.S.A. 59:13-1 et seq., the provisions of which are incorporated by reference. 6

7 C. Incorporating Exhibits 1-3 i. EXHIBIT 1: LANDLORD AWARD CALCULATION ii. EXHIBIT 2: FLOOD INSURANCE REQUIREMENT iii. EXHIBIT 3: SUBROGATION AND ASSIGNMENT AGREEMENT iv. EXHIBIT 4: SUFFICIENT FUNDS ACKNOWLEDGMENT 7

8 IN WITNESS WHEREOF and intending to be legally bound, the LANDLORD and the STATE signed this document as of the date reported. LANDLORD I certify that the foregoing statements made by me are true. I am aware that if any of the foregoing statements made by me are willfully false, I am subject to punishment. By: (Applicant Signature) DATE: PRINT: By: (Co-Applicant Signature) DATE: PRINT: NOTARY: DATE STATE OF NEW JERSEY, DEPARTMENT OF COMMUNITY AFFAIRS By: DATE PRINT: 8

9 EXHIBIT 1 LANDLORD AWARD CALCULATION Landlord/Owner Name: Landlord/Owner Phone #: Damaged Property Address: Application ID Number: Landlord/Owner Mailing Address: Damaged Property Lot & Block #: STEP I. AWARD CALCULATION 1. TOTAL DEVELOPMENT COST Amount a. Total Number of Units # b. Total Completed Repairs (from Work in Place Report/WIP) $0.00 c. Reconstruction Estimate (1b. or 1c. completed, not both) $0.00 d. Estimated Cost to Complete (from PM ECR Report) $0.00 e. Estimated Elevation Cost (if applicable/substantial damage) $0.00 f. TOTAL DEVELOPMENT COST (sum of 1b or1c + 1d + 1e) $0.00 g. Construction Contingency (15% of Total Development Cost) $0.00 h. Total Not-to-Exceed Development Cost $ FUNDS AVAILABLE FROM OTHER SOURCES CONSIDERED A DUPLICATION OF BENEFITS Amount a. FEMA $0.00 b. SBA Loan (amount accepted) $0.00 c. Property Insurance $0.00 d. National Flood Insurance Program $0.00 e. ICC $0.00 f. Private non-profit sources $0.00 g. Other (NOT personal funds): $0.00 h. TOTAL FUNDS AVAILABLE FROM OTHER SOURCES $ AWARD CALCULATION Amount a. Maximum Award (Total Not-to-Exceed Development Cost minus other sources of funding) (1h - 2h) $0.00 b. Program Cap ($50,000 per rental unit) $50, c. GRANT AWARD (Lesser of 3a or 3b) $0.00 9

10 STEP II. GRANT DISBURSEMENT CALCULATION Amount 4a. Maximum Eligible completed repairs (lesser of WIP or applicant-attested receipts for work prior to Application Date with documentation) $0.00 4b. Ineligible completed repairs $0.00 4c. Grant Award from 3c $0.00 4d. Reimbursement Award (Lesser of 4a or 4c) $0.00 4e. Remaining Construction Award (4c - 4d) $0.00 STEP III: ADDITIONAL UNMET NEED Amount 5a. Estimated Cost to Complete/Reconstruct ((1c or 1d) + 1e + 1g) $0.00 5b. Remaining Construction Award (4e) $0.00 5c. Additional Unmet Need (5a - 5b - 2h) $0.00 I certify that to the best of my knowledge the information contained in this document is neither false nor misleading. Applicant Signature: Date: Co-Applicant Signature: Date: Landlord Advisor Signature: Date: 10

11 EXHIBIT 2 FLOOD INSURANCE REQUIREMENT By accepting these Grant Funds, LANDLORD is a recipient of Federal funds. As long as the PROPERTY is located within a Special Flood Hazard Area after the completion of the project, LANDLORD is required to maintain flood insurance for the life of the structure for an amount equal to the lesser of the project cost, or the maximum limit of coverage made available for the PROPERTY. Flood insurance coverage on the PROPERTY must be maintained during construction and throughout the life of the PROPERTY regardless of subsequent transfers of ownership. LANDLORD should record this requirement to ensure that future purchasers of the PROPERTY are notified of this requirement in perpetuity (recommended language is provided below). Notification to future owners of this requirement is the responsibility of the LANDLORD. Should the LANDLORD not maintain Flood Insurance, the LANDLORD will not be eligible for Federal Assistance in a future disaster. Should the LANDLORD fail to notify a subsequent owner of the requirement to maintain Flood Insurance on the property and a future disaster occurs, the Federal Government may seek repayment of the full Grant Award from the LANDLORD. RECEIVED AND ACKNOWLEDGED: APPLICANT SIGNATURE NAME DATE CO-APPLICANT SIGNATURE NAME DATE Recommended language which may be recorded in the County Records: This property has received Federal rebuilding assistance in the form of HUD CDBG-DR funds. Federal law requires that flood insurance coverage on this property must be maintained during the life of the property regardless of transfer of ownership of such property. Pursuant to 42 U.S.C. 5154a, failure to maintain flood insurance on this property may prohibit the owner from receiving Federal disaster assistance with respect to this property in the event of a flood disaster. The Property Owner is also required to maintain this property in accordance with the floodplain management criteria of 44 CFR Part 60.3 and municipal ordinances. 11

12 EXHIBIT 3 SUPERSTORM SANDY RECOVERY SUBROGATION AND ASSIGNMENT AGREEMENT LANDLORD RENTAL REPAIR PROGRAM This Subrogation and Assignment Agreement (hereinafter the "Agreement") is made by and between STATE OF NEW JERSEY, DEPARTMENT OF COMMUNITY AFFAIRS, hereinafter STATE, having offices at 101 South Broad Street, Trenton, NJ , and the LANDLORD, hereinafter LANDLORD, as noted in Exhibit 1 with mailing address as noted in Exhibit 1 In consideration of LANDLORD s receipt of funds or the commitment by the State to provide funds (collectively, LRRP Grand Funds ) under the CDBG-DR Program, administered by the STATE, LANDLORD hereby assigns to the STATE all of LANDLORD's future rights to reimbursement and any and all payments received from any grant, subsidized loan, or insurance policy of any type or coverage, including but not limited to, any reimbursement or relief program related to or administered by the Federal Emergency Management Agency ("FEMA") or the Small Business Administration ("SBA") or Increased Cost Compliance ( ICC ) (singularly, a "Disaster Program" and collectively, the "Disaster Programs") where those payments or reimbursements would have been the basis for the calculation of LANDLORD's Grant Award under the grant agreement executed between the State and the LANDLORD under the Landlord Rental Repair Program ( LRRP ) and that are determined in the sole discretion of the CDBG- DR Program to be a duplication of benefits ("DOB") as provided in this Agreement. When the LANDLORD first becomes aware of any such payment or reimbursement, whether they arise from Insurance, FEMA, the SBA, ICC or any other funding source, he/she shall immediately notify the STATE, which will determine in its sole discretion if such a payment or reimbursement constitutes a DOB. If some or all of the payments or reimbursements are determined to be a DOB, that portion shall be paid to or retained by the STATE as provided in this Agreement. LANDLORD agrees to assist and cooperate with the STATE if STATE elects to pursue any of the claims that LANDLORD has against insurers for reimbursement of DOB Proceeds under any such policies. LANDLORD s assistance and cooperation shall include but shall not be limited to: allowing suit to be brought in the name of or on behalf of the LANDLORD and providing any additional documentation with respect to such consent, allowing for his/her deposition(s), providing documents, producing records and other evidence, testifying at trial and any other form of assistance and cooperation reasonably requested by the STATE. LANDLORD 12

13 further agrees to assist and cooperate in the STATE receiving and/or seeking to collect any DOB Proceeds that the LANDLORD would be entitled to under any applicable Disaster Program. If requested by the STATE, LANDLORD agrees to execute any additional documents and instruments as may be requested by the STATE to further and better assign the LANDLORD s rights to the STATE and to take, or cause to be taken, all actions and to do, or cause to be done, all things requested by the STATE to consummate and make effective the purposes of this Agreement. LANDLORD explicitly agrees to allow the STATE to request from any company with which LANDLORD held insurance policies, or other entity to which the LANDLORD applied for or is receiving funds related to damage to the LANDLORD s PROPERTY, including but not limited to, FEMA, the SBA or any other entity, any of the following information or documents: public or confidential information or documents determined to be reasonably necessary by the STATE to monitor/enforce its interest in the rights assigned to it under this Agreement and the grant agreement. The LANDLORD further agrees to provide written consent to the STATE for such company or entity to release such information to the STATE. If LANDLORD hereafter receives any DOB Proceeds in excess of the specific amount listed on the DOB Affidavit, and if the LANDLORD s LRRP Grant award would have been less if these DOB proceeds had been taken into account at the time of the DOB calculation, the LANDLORD hereby agrees to immediately reimburse such amount to the STATE. In the event that the LANDLORD receives or is scheduled to receive any payments or reimbursements not listed on its DOB Affidavit ("Subsequent Proceeds"), LANDLORD shall immediately notify the State, which shall determine the amount, if any, that such Subsequent Proceeds are to be considered Subsequent DOB Proceeds. Subsequent DOB Proceeds shall be disbursed as follows: 1. If the LANDLORD has received full payment of the Grant Funds, any Subsequent DOB Proceeds shall be retained by the STATE up to the amount of the Grant Funds. 2. If the LANDLORD has received no payment of the Grant Funds, any Subsequent DOB Proceeds shall be used by the STATE to reduce payments of the Grant Funds to the LANDLORD, and any remaining Subsequent DOB Proceeds shall be returned to the LANDLORD. 3. If the LANDLORD has received a portion of the Grant Funds, any Subsequent DOB Proceeds shall be used, retained and/or disbursed in the following order: (A) Subsequent DOB Proceeds shall first be used to reduce any remaining payments of the Grant Funds, and Subsequent DOB Proceeds in such amount shall be returned to the LANDLORD; and 13

14 (B) any remaining Subsequent DOB Proceeds shall be retained by the STATE. 4. If the STATE makes the determination that the LANDLORD does not qualify to participate in the LRRP or the LANDLORD decides not to participate in the LRRP, the Subsequent DOB Proceeds shall be returned to the LANDLORD and this Agreement shall terminate. Once the STATE has recovered an amount equal to the Grant Funds paid to or on behalf of the LANDLORD, the STATE will reassign to LANDLORD any rights assigned to the STATE pursuant to this Agreement. I certify that the foregoing statements made by me are true. I am aware that if any of the foregoing statements made by me are willfully false, I am subject to punishment. APPLICANT: Signature Name (Print) Date: CO-APPLICANT: Signature Name (Print) Date: 14

15 EXHIBIT 4 SUFFICIENT FUNDS ACKNOWLEDGMENT In connection with my application to the LRRP, I, the Landlord, attest, to the best of my knowledge and my belief, as follows: Applicant Initial Acknowledgments I am aware that the estimated total cost to complete construction for reconstructing or rehabilitating the damaged property is <<$ >> I am aware that I have received a grant award in the amount of <<$ >> from the LRRP. I certify that I will provide sufficient funds above and beyond the aforementioned grant award to pay for any and all construction costs required to complete my project under the LRRP. I understand that I am required to complete construction, including all applicable elevation requirements, within one (1) year from the date of grant award. I understand that failure to meet the construction timeline may require the repayment of my grant award, in accordance with this Grant Agreement and the LRRP policies and procedures. I certify that the foregoing statements are true. I am aware that by knowingly and willingly making false or fraudulent statements, I am subject to appropriate civil or criminal penalties allowed by law, including but not limited to, the DCA and/or the State of New Jersey bringing action to recover all or a portion of the amount of HUD CDBG-DR funds received under this agreement. APPLICANT SIGNATURE NAME (Print) DATE CO-APPLICANT SIGNATURE NAME (Print) DATE 15