Cal. Code Regs. Tit. 25, § 8058 - Disbursement of Loan Funds

(a) Upon deferred payment loan approval and request by the local entity, the department shall disburse funds for deferred payment loans loan account approved by the department.

(b) Requests for deferred payment loan funds shall be on Form HCD O-003, California Housing Rehabilitation Program for Owner-Occupied Housing (CHRP-O), Request for Funds, dated 8/90, as set forth in subdivision (c) of this section. This request for funds form is provided by the department. The information on any request shall be subject to verification by the department.

(c) Copy of Form HCD O-003, California Housing Rehabilitation Program for Owner-Occupied Housing (CHRP-O), Request for Funds, dated 8/90.

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CALIFORNIA HOUSING REHABILITATION PROGRAM
For Owner-Occupied Housing (CHRP-O)
REQUEST FOR FUNDS
To:	FROM:
Department of Housing and Community Development	(Local Entity):_____________
Division of Community Affairs, CHRP-O	(Address):__________
P.O. Box 952054	______________
Sacramento, CA 94252-2054	_______________
ATTN: Senior Program Manager	_____________

	Loan Funds	Grant Funds
	Requested	Requested
Contact No:______________	$________	$__________
		( )Draw #1	( ) Draw #2

Borrower Name:___________________	Payee Name/Address:
Borrower Loan No:_______________	_
	_
	_
	_
Cumulative Date:

				Total	Balance
Total Fund	Total Amount	Loan Funds	Grant Funds	Approved this	Remaining
Commitment	of Prior	Requested for	Requested for	Request for	in Funds
by HCD	Drawdowns	Disbursement	Disbursement	Disbursement	Commitment
$______	$ ______	$ ______	$______	$______	$_______

I, the undersigned, do hereby certify that the abovecosts were/will be incurred in the performance of the above-numbered contract and, if address is not payee, do also certify that the above addressee is authorized to act as agent of the payee for the purpose of receiving and depositing the above stated sum.

SIGNED _________________________	TITLE _________________________
BY _____________________________	DATED _________________________
____________DO NOT WRITE BELOW THIS LINE____________

The work performed for which this billing is prepared in accordance with all provisions of Contract #____________ between ____________ and HCD and is approved for payment. Please disburse funds in the total amount of $__________________, payable to payee indicated above. Please phone 323-3178 when the warrent is received by HCD Accounting.

Date: _	_
	Senior Program Manager
PCA/Index: _	Fund No. _

(d) Deferred payment loan funds shall only be disbursed for approved deferred payment loans in accordance with the following:

(1) In the event the local entity is not certified to approve deferred payment loans, the local entity shall submit to the department with Form HCD O-003, California Housing Rehabilitation Program for Owner-Occupied Housing (CHRP-O), Request for Funds, dated 8/90, the loan file completed pursuant to Subdivision 8057(e)(1) for which funds are being requested.

(2) In the event the local entity is certified to approve deferred payment loans, the local entity shall submit to the department with Form HCD O-003, California Housing Rehabilitation Program for Owner-Occupied Housing (CHRP-O), Request for Funds, dated 8/90, a description of the deferred payment loan for which funds are being requested.

(e) Deferred payment loan funds shall be deposited and maintained in a separate, interest-bearing escrow account, which shall include only funds transferred pursuant to this subchapter.

(f) Prior to the disbursement of deferred payment loan funds, the local entity shall ensure that the documents specified in section8056(c) are completed, executed and recorded.

Notes

Cal. Code Regs. Tit. 25, § 8058

Note: Authority cited: Section 50668.5(g), Health and Safety Code. Reference: Sections 50661, 50662 and 50663, Health and Safety Code.

1. New section filed 11-30-89 as an emergency; operative 11-30-89 (Register 89, No. 49). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 3-30-90.
2. New section refiled 3-26-90 as an emergency; operative 3-30-90 (Register 90, No. 16). A Certificate of Compliance must be transmitted to OAL within 120 days or emergency language will be repealed by operation of law on 7-30-90.
3. New section filed 7-26-90 as an emergency; operative 7-26-90 (Register 90, No. 38). A Certificate of Compliance must be transmitted to OAL by 11-23-90 or emergency language will be repealed by operation of law on the following day.
4. Amendment of subsection (a) filed 8-27-90 as an emergency; operative 8-27-90 (Register 90, No. 42). A Certificate of Compliance must be transmitted to OAL by 12-26-90 or emergency language will be repealed by operation of law on the following day.
5. New section refiled 11-16-90 as an emergency; operative 11-16-90 (Register 90, No. 51). A Certificate of Compliance must be transmitted to OAL by 3-18-91 or emergency language will be repealed by operation of law on the following day.
6. Readoption of 8-27-90 order filed 12-21-90 as an emergency; operative 12-21-90 (Register 91, No. 7). A Certificate of Compliance must be transmitted to OAL by 4-22-91 or emergency language will be repealed by operation of law on the following day.
7. Certificate of Compliance as to 11-30-89 order, readopted and operative on 3-30-90, 7-26-90 and 11-16-90, including amendment of subsections (a), (b), (d), (e), and (f) transmitted to OAL 11-30-90 and filed 12-31-90 (Register 91, No. 7).