Home
Forms Library
CDBG Piggyback Program Performance and Completion Guaranty

CDBG Piggyback Program Performance and Completion Guaranty 2025

CDBG Piggyback Program Performance and Completion Guaranty Preview on Page 1

Show details

4 out of 5

31 votes

The document is a Performance and Completion Guaranty related to the CDBG Piggyback Program, outlining the obligations of a Guarantor to ensure the completion and financial responsibilities associated with a multifamily residential rental project in Louisiana. It details the conditions under which the Guarantor must fulfill these obligations, including guaranteeing construction completion, payment of costs, and indemnifying the Office of Community Development (OCD) against losses. The Guaranty is binding and enforceable, emphasizing that it remains effective despite any changes in Borrower's circumstances.

Here's how it works

01. Edit your form online

Type text, add images, blackout confidential details, add comments, highlights and more.

02. Sign it in a few clicks

Draw your signature, type it, upload its image, or use your mobile device as a signature pad.

03. Share your form with others

Send it via email, link, or fax. You can also download it, export it or print it out.

The best way to edit CDBG Piggyback Program Performance and Completion Guaranty in PDF format online

Ease of Setup

DocHub User Ratings on G2

Ease of Use

DocHub User Ratings on G2

Adjusting documents with our comprehensive and intuitive PDF editor is easy. Make the steps below to fill out CDBG Piggyback Program Performance and Completion Guaranty online quickly and easily:

Log in to your account. Sign up with your email and password or register a free account to test the product prior to upgrading the subscription.
Upload a form. Drag and drop the file from your device or import it from other services, like Google Drive, OneDrive, Dropbox, or an external link.
Edit CDBG Piggyback Program Performance and Completion Guaranty. Easily add and underline text, insert pictures, checkmarks, and signs, drop new fillable areas, and rearrange or remove pages from your document.
Get the CDBG Piggyback Program Performance and Completion Guaranty completed. Download your updated document, export it to the cloud, print it from the editor, or share it with others via a Shareable link or as an email attachment.

Benefit from DocHub, the most straightforward editor to quickly manage your documentation online!

be ready to get more

Complete this form in 5 minutes or less

Get form

Got questions?

We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a performance and completion guaranty?

Contract and performance bonds guarantee the successful completion of a contract, whereas a completion bond guarantees the successful completion of an entire project. A project that requires a completion bond could also require separate contract bonds to guarantee successful completion of certain parts of that project.

What is a performance guaranty?

A performance guarantee is a contractual clause that ensures one party fulfills their obligations as specified, often by providing financial assurance or a form of security. It serves to protect the other party against losses or damages if the obligations are not met satisfactorily.

What is the difference between completion guarantee and performance guarantee?

Whereas completion bonds create a guarantee between the obligor and its lender as obligee, performance bonds create a guarantee between the obligor and the contractual obligee. The obligee receives compensation for any losses incurred if the obligor breaches the contractual terms of the agreement.

What is the difference between guaranty of payment and performance and collection?

If the guarantor binds itself to pay immediately upon default of the primary obligor, it has given a guaranty of payment. If it binds itself to pay only after attempts to obtain payment from the primary obligor have failed, it is a guarantor of collection.

Can CDBG loans be forgiven?

If the grantee awards CDBG homeownership assistance as a loan, can it be forgivable? Yes. A grantee may require the homeowner to remain in the unit for a selected period after it is purchased. If the homeowner does so, the balance of the loan is forgiven.

How does a performance guarantee work?

A Performance Guarantee is issued by an insurance company or bank to an employer on behalf of the contractor to guarantee the full and due performance of the works by the contractor as set out in the contract data.

CDBG Piggyback Program Performance and Completion Guaranty 2025

Here's how it works