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I . SUBRECIPIENT must submit, no later than ninety (90) calendar days after the end <br />date of the period of performance, all financial, performance, and other reports as <br />required by the terms and conditions of the Federal award; <br />2. Unless the CITY authorizes an extension, SUBRECE?IENT must liquidate all <br />obligations incurred under the Federal award not later than ninety (90) calendar days <br />after the end date of the period of performance as specified in the terms and <br />conditions of the Federal award; <br />3. SUBRECIPIENT must promptly refund any balances of unobligated cash that the <br />CITY paid in advance or paid and that is not authorized to be retained by <br />SUBRECIPIENT for use in other projects (See OMG Circular A-129 and 2 CFR <br />200.345); <br />4. SUBRECIPIENT must account for any real and personal property acquired with <br />Federal funds or received from the Federal government in accordance with 2 CFR <br />200.310-200,316 and 200.329; and, <br />5, The CITY should complete all closeout actions for the Federal award no later than <br />one year after receipt and acceptance of all required final reports. <br />XVH. VALIDITY AND SEVERABILII Y <br />The invalidity in whole or in part of any provision of this ARGREEMENT shall not void or affect <br />the validity of any other provision of this AGREEMENT. Whenever possible, each provision of <br />this AGREEMENT shall be interpreted in such manner as to be effective and valid under <br />applicable law, but if any provision of this AGREEMENT is held to be prohibited by or invalid <br />under applicable law, such provision shall be ineffective only to the extent of such prohibition or <br />invalidity, without invalidating the remainder of such provisions of this AGREEMENT, <br />XVIII. LAWS GOVERNING THIS AGREEMENT <br />This AGREEMENT shall be governed by and construed in accordance with the taws of the State <br />of California, and all applicable federal laws and regulations, <br />XIX. WAIVER <br />No delay or omission by the CITY hereto to exercise any right or power accruing upon any <br />noncompliance or default by the SUBRECIPIENT with respect to any of the terms of this <br />AGREEMENT shall impair any such right or power or be construed to be a waiver thereof. A <br />waiver by either of the parties hereto of any of the covenants, conditions, or agreements to be <br />performed by the other shall not be construed to be a waiver of any succeeding breach thereof or <br />of any other covenant, condition, or agreement herein contained. <br />22 <br />