Exhibit_C_-_Definitions_ _Acronyms_6-5-2015.pdf

AG-5241-S-15-0001, Exhibit C

DEFINITIONS AND ACRONYMS

A. DEFINITIONS:

Agency. The Rural Housing Service (RHS) within the Rural Development (RD) mission area of the U.S. Department of Agriculture or its successor agency, which administers Section 502 loans and Section 504 loans.

Borrower. A recipient who is indebted under the Section 502 and 504 programs.

Case File. A file established for each loan application to contain all documents used for loan origination and/or loan servicing.

Contracting Officer (CO). A person with authority to enter into, administer, and or terminate agreements, and make related determinations and findings on behalf of the government. Note:

The Contracting Officer is the only individual who can legally bind the government.

Contractor. A private attorney or law firm operating under this agreement to provide specific supplies or service to the government. The term used in this agreement refers to the prime contractor.

Deed in Lieu of Foreclosure. A method of liquidation by which title to the security property is conveyed to the Agency by the borrower.

Defective Service. A service output that does not meet the standard of performance associated with the Agreement.

Deliverable. Anything that can be physically delivered, but may include non-manufactured things such as meeting minutes or reports.

Housing Director. Individual with the overall leadership providing direction for Housing Programs within the State.

Point of Contact (POC). An employee of the U.S. Government who acts as the Contracting Officer’s representative for technical matters, providing technical direction and discussion as necessary with respect to the specification or statement of work, and monitoring the progress and quality of contractor performance. This individual has authority to provide technical direction to the Firm as long as that direction is within the scope of the agreement, does not constitute a change, and has no funding implications. This individual does NOT have authority to change the terms and conditions of the agreement.

Quality Control. All necessary measures taken by the Contractor to assure that the quality of an end product or service shall meet agreement requirements.

Subcontractor. One that enters into an agreement with a prime contractor. The Government does not have privity of agreement with the subcontractor. Performance of work by subcontractors in accordance with the agreement requirements is the responsibility of the Prime Contractor.

B. ACRONYMS:

AGAR Agriculture Federal Acquisition Regulation ARO After Receipt of Order CFR Code of Federal Regulations CO Contracting Officer CPM Contract Program Manager FAR Federal Acquisition Regulation HUD U.S. Department of Housing and Urban Development POC Point of Contact PRS Performance Requirements Summary QC Quality Control RD Rural Development RHS Rural Housing Service SFHS Single Family Housing Staff USC United States Code.

USDA United Stated Department of Agriculture.