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CITY's 2008-09 FEZ program year amounts expended by CONTRACTOR in <br />carrying out said program for fiscal year 2008-09 pursuant to this Agreement up to <br />a maximum aggregate payment of Eighty One Thousand Six Hundred Thirty <br />Dollars ($81,630) for CONTRACTOR'S performance in accordance with the <br />payment schedule attached hereto as "Exhibit A". Payments shall be made to <br />CONTRACTOR through the submission of periodic invoices, in a form prescribed <br />by CITY, detailing such expenses. CONTRACTOR agrees to submit the above- <br />stated document to the FEZ Navigator Office, 1000 E. Santa Ana Blvd., Suite 200, <br />Santa Ana, CA 92701. CITY shall pay such invoices within thirty (30) days after <br />receipt thereof provided CITY is satisfied that such expenses have been incurred <br />within the scope of this Agreement and that CONTRACTOR is in compliance with <br />the terms and conditions of this Agreement. <br />CITY has the right to de-obligate the. funds hereunder and take such funding <br />back .from CONTRACTOR due to any of the following .reasons: (a) lack of <br />performance by CONTRACTOR; (b) lack of fiscal accountability of <br />CONTRACTOR; or (c) decrease in available funding: <br />III. PROGRAM INCOME - <br />A. .For the purposes of this: Article:(III) "Program income," shall mean <br />gross income received by the CONTRACTOR directly generated from the <br />use of FEZ funds; except.as provided below in Paragraph IILC. When such <br />income is generated. by an activity that is only partially assisted with FEZ <br />funds, the income shall be prorated°to reflect the' percentage of FEZ funds - <br />used. <br />Program income ihcludes, buf is not limited to each of the following: <br />1. Proceeds from the disposition by sale or long term lease of real <br />property purchased or improved with FEZ funds; <br />2. Proceeds from the disposition of equipment purchased with FEZ <br />funds. <br />3. Gross income from the use or rental of real or personal property <br />acquired by the CONTRACTOR with FEZ funds, less the costs <br />incidental to the generation of such income; <br />4. Gross income from the use or rental of real property owned by the <br />CONTRACTOR that was constructed or improved with FEZ funds, <br />less the costs incidental to the generation of such income; <br />5. Payments of principal and interest on loans made using FEZ funds; <br />6. Proceeds from the sale of loans made with FEZ funds; <br />7. Proceeds from the sale of obligations secured by loans made with <br />FEZ funds; <br />8. Interest earned on funds held in a revolving fund account; <br />9. Funds collected through special assessments made against <br />properties owned and occupied by households not of low and <br />Page 6 of 14 <br />