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5/05 <br />SUBRECIPIENT's obligations and responsibilities set forth in this paragraph "XI. <br />REVERSION OF ASSETS," and in paragraph "XII. TERMINATION" and other requirements <br />pertaining to program income shall not be affected by the termination of this Agreement and shall <br />survive the date of termination of this Agreement for such period of time as CITY and/or HUD <br />deems necessary for the responsibilities, duties and obligations to be performed and completed to <br />the satisfaction of CITY and HUD. <br />XIL TERMINATION <br />A. This Agreement may be terminated on thirty (30) days' written notice by either <br />party. In the event of such termination, SUBRECIPIENT shall only be entitled to reimbursement <br />for approved expenses incurred to the effective date of termination. <br />B. This Agreement may be suspended or tenninated by CITY upon five (5) days' <br />written notice for violation by SUBRECIPIENT of Federal Laws governing the use of Community <br />Development BIock Grant Funds. In the event of such suspension or tennination, SUBRECIPIENT <br />shall only be entitled to reimbursement for approved expenses incurred up to the effective date of <br />suspension or tennination. <br />C. Pursuant to 24 CFR 85.43, in the event SUBRECIPIENT defaults by failing to fulfill <br />all or any of its obligations hereunder, CITY may declare a default and termination of this <br />Agreement by written notice to SUBRECIPIENT, which default and tennination shall be effective <br />on a date stated in the notice which is to be not less than ten (10) days after certified mailing or <br />personal service of such notice, unless such default is cured before the effective date of termination <br />stated in such notice. If tenninated for cause, CITY shall be relieved of further liability or <br />responsibility under this Agreement, or as a result of the tennination thereof, including the payment <br />of money, except for payment for approved expenses incurred for services satisfactorily and timely <br />perfonned prior to the mailing or service of the notice of tennination, and except for reimbursement <br />of (1) any payments made for services not subsequently performed in a timely and satisfactory <br />manner, and (2) costs incurred by CITY in obtaining substitute perfonnance. <br />D. The grant of funds under this Agreement may be terninated for convenience in <br />accordance with 24 CFR 85.44. <br />E. The grant of funds under this Agreement may be terminated due to the non- <br />performance of SUBRECIPIENT and/or failure of SUBRECIPENT to perform the work described <br />in Exhibits A and B or failure to meet the performance standards and program goals set forth <br />therein. <br />F. In the event this Agreement is terminated as set forth in subparagraphs XILA. <br />through XII.E., inclusive, SUBRECIPIENT agrees to immediately return to CITY upon CITY's <br />demand and prior to any adjudication of SUBRECIPIENT's rights, any and all funds not used, and <br />to comply with paragraph "XI. REVERSION OF ASSETS" of this Agreement. <br />13 <br />