Form Hud 52531a - Pbv Agreement To Enter Into Housing Assistance Payments Contract - New Construction Or Rehabilitation Page 4

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1.6
Schedule of Completion
A.
Timely Performance of Work: The owner agrees to begin work no later than the
date for commencement of work as stated in section 1.4. In the event the work is
not commenced, diligently continued and completed as required under this
Agreement, the PHA may terminate this Agreement or take other appropriate
action. The owner agrees to report promptly to the PHA the date work is
commenced and furnish the PHA with progress reports as required by the PHA.
B.
Time for Completion: All work must be completed no later than the end of the
period stated in section 1.4. Where completion in stages is provided for, work
related to units included in each stage shall be completed by the stage completion
date and all work on all stages must be completed no later than the end of the
period stated in section 1.4.
C.
Delays: If there is a delay in the completion due to unforeseen factors beyond the
owner’s control as determined by the PHA, the PHA agrees to extend the time for
completion for an appropriate period as determined by the PHA in accordance
with HUD requirements.
1.7
Changes in Work
A.
The owner must obtain prior PHA approval for any change from the work
specified in Exhibit B which would alter the design or quality of the rehabilitation
or construction. The PHA is not required to approve any changes requested by
the owner. PHA approval of any change may be conditioned on establishment of
a lower initial rent to owner as determined by PHA in accordance with HUD
requirements.
B.
If the owner makes any changes in the work without prior PHA approval, the
PHA may establish lower initial rents to owner as determined by the PHA in
accordance with HUD requirements.
C.
The PHA may inspect the work during rehabilitation or construction to ensure that
work is proceeding on schedule, is being accomplished in accordance with the
terms of the Agreement, meets the level of material described in Exhibit B and
meets typical levels of workmanship for the area.
Page 4 of 17
HUD 52531A
Agreement, Part 1 of 2
Previous Editions are obsolete
Project-based Voucher Program

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