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to account for receipt, obligation, distribution and expenditure of CDBG-CV Funds pursuant to <br />applicable 2 CFR 200.302 requirements. <br />E. Audit Report Requirements. SUBRECIPIENT agrees that if SUBRECIPIENT <br />expends Seven Hundred Fifty Thousand Dollars ($750,000) or more in federal funds, <br />SUBRECIPIENT shall have an annual audit conducted by a certified public accountant in <br />accordance with the standards as set forth and published by the United States Office of <br />Management and Budget. SUBRECIPIENT shall provide CITY with a copy of said audit by <br />April 1 of the year following the program year in which this Agreement is executed. <br />F. Compliance with Law/Program Income. SUBRECIPIENT acknowledges that <br />one source of funds being provided by CITY for said Program are received by CITY pursuant to <br />CDBG-CV, and that distribution and expenditure of these CDBG-CV Funds shall be in <br />accordance with the CDBG REGS and all pertinent regulations issued by agencies of the federal <br />government, including, but not limited to, all regulations found at Title 24 of the Code of Federal <br />Regulations. Any Program income received by SUBRECIPIENT shall be returned to CITY, <br />unless otherwise provided for in this Agreement. SUBRECIPIENT agrees to comply fully with <br />all federal, state and local laws and court orders applicable to its operation and administration of <br />said Program, whether or not referred to in this Agreement. <br />G. Debarment. To protect the public interest and ensure the integrity of Federal <br />programs, CITY may only conduct business with responsible persons and may not make any <br />award or permit any award to any party which is debarred or suspended or is otherwise excluded <br />from or ineligible for participation in Federal assistance programs under Executive Order 12549, <br />"Debarment and Suspension". See also 24 CFR 570.609. SUBRECIPIENT must review and <br />sign Exhibit C "Debarment", which is attached hereto and incorporated herein by this reference. <br />SUBRECIPIENT shall be in good standing, without suspension by the California Secretary of <br />State, Franchise Tax Board or Internal Revenue Service. Any change in the corporate status or <br />suspension of SUBRECIPIENT shall be reported immediately to CITY. <br />H. Confidentiality. Without prejudice to any other provisions of this Agreement, <br />SUBRECIPIENT shall, where applicable, maintain the confidential nature of information <br />provided to it concerning participants in accordance with the requirements of federal and state <br />law. However, SUBRECIPIENT shall submit to CITY or its representatives, all records <br />requested, including audit, examinations, monitoring and verifications of reports submitted by <br />SUBRECIPIENT, costs incurred and services rendered hereunder. <br />L Independent Contractor. SUBRECIPIENT agrees that the performance of <br />obligations hereunder is rendered in its capacity as an independent contractor and that it is in no <br />way an agent of CITY. <br />J. Violation of Terms and Conditions. SUBRECIPIENT agrees that if <br />SUBRECIPIENT violates any of the terms and conditions of this Agreement or any prior <br />Agreement whereby Program Funds were received by SUBRECIPIENT, or if SUBRECIPIENT <br />reports inaccurately, or if on audit there is a disallowance of certain expenditures, <br />SUBRECIPIENT agrees to remedy the acts or omissions causing the disallowance and repay <br />Fe <br />