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City of Santa Ana 06-CaIHome-184 Page 4 of 5 EXHIBIT C 10. Monitorinq Aqreement Upon the State's approval of Recipient's Loan Servicing Plan and CalHome Reuse Account Plan, the Recipient shall enter into a twenty (20) year CalHome Program Reuse Account Monitoring Agreement (Monitoring Agreement). This Monitoring Agreement allows the State to: obtain necessary reporting information; review and approve changes to Loan Servicing Procedures or CalHome Reuse Account Plans; and to perform monitoring of CalHome program operations and accounts. 11. Compliance with Laws and Requlations Contractor agrees that at all times its acts with respect to the CalHome Program, CalHome activities, and use of funds committed herein shall be in conformity with all laws applicable to the CalHome Program including those of the State of California, all federal laws, all local rules or ordinances, all requirements of the CalHome Program including the CalHome statutes and Regulations. 12. Disencumbrance of Funds Funds authorized by this Agreement may be disencumbered in whole or in part if funds are not expended within the time frames specified in Exhibit A, Section 4.A; Completion Dates. 13. Waiver No waiver of any breach of this Agreement shall be held to be a waiver of any prior or subsequent breach. Any remedy afforded in this Agreement shall be taken and construed as cumulative, and in addition to, any other remedy provided therein or by law. The failure of the State to enforce at any time the provisions of this Agreement or to require at any time performance by the Contractor of such provisions shall in no way be construed to be a waiver of such provisions nor to affect the validity of this Agreement or the right of the State to enforce these provisions. 14. Litiqation A. If any provision of this Agreement, or underlying obligation, is held invalid by a court of competent jurisdiction, such invalidity, at the sole discretion of the State, shall not affect any other provisions of this Agreement and the remainder of this Agreement shall remain in full force and effect. Therefore, the provisions of this Agreement are, and shall be, deemed severable. B. The Contractor shall notify the State immediately of any claim or action undertaken by or against it which affects or may affect this Agreement or the State, and shall take such action with respect to the claim or action as is consistent with the terms of this Agreement and the interests of the State. t.