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<br /> and (iv) fairly present the results of Developer's operations. Developer shall also provide the <br /> City with any other annual audit reports issued by other monitoring agencies. <br /> 605. Audits and Access to Records. Developer agrees that City, the U.S. Department of <br /> Housing and Urban Development, the Comptroller General of the United States or any of their <br /> authorized representatives shall have the right of access, upon reasonable notice, to any books, <br /> documents, papers, or other records of Developer which are pertinent to this Agreement in order <br /> to make audits, examinations, abstracts, excerpts or transcripts. Developer will maintain all <br /> books and records pertaining to this Agreement for a period of not less than five (5) years after <br /> all matters pertaining to this Agreement (i.e., audit, disputes or litigation) are resolved in <br /> accordance with applicable federal or state laws, regulations or policies, and when a period of <br /> affordability or recapture applies to Developer's activities, for a period of not less than five (5) <br /> years after the affordability or recapture period ends. <br /> 606. Termite Inspection Report. Developer shall deliver a termite report pertaining to <br /> the Property to the City every fifth (5`h) year beginning January 2016. i <br /> 700. GOVERNMENTAL REQUIREMENTS <br /> 701. Economic Opportunities for Low Income People. (24 CFR 570.487, Section 3 of <br /> the Housing and Urban Development Act of 1968, 12 USC 1701u, as amended by Section 915 of <br /> the Housing and Community Development Act of 1992). Developer certifies that it implements <br /> a policy in accordance with Section 3 of the Housing and Urban Development Act of 1968 that <br /> requires employment and other economic opportunities arising in connection with housing <br /> rehabilitation, housing construction and other public construction projects shall, to the extent <br /> feasible and consistent with existing federal, state and local laws and regulations, be given to low <br /> and very low-income persons. Noncompliance with HUD's regulations in 24 CFR part 135 may <br /> result in sanctions, termination of this contract for default, and debarment or suspension from <br /> future HUD assisted contracts. To the extent applicable, the Developer shall comply and/or <br /> cause compliance with Section 3 Clause requirements for the NSP. For example, when and if <br /> Developer or its contractor(s)/subcontractor(s) hire(s) full time employees, Section 3 is <br /> applicable and all disclosure and reporting requirements apply. <br /> 702. Use of Debarred. Suspended, or Ineligible Participants. Developer shall comply <br /> with the provisions of 24 CFR 24 relating to the employment, engagement of services, awarding <br /> of contracts, or funding of any contractor or subcontractor during any period of debarment, <br /> suspension, or placement in ineligibility status. <br /> 703. Conformance with Applicable Labor Law. If Section 401 applies, all laborers <br /> and mechanics employed by the Developer and any subcontractor in the performance of the <br /> construction work under this Agreement (if any) shall be paid wages at rates not less than the <br /> prevailing wage as determined by the U.S. Department of Labor, under the Davis-Bacon Act. <br /> The Developer further agrees to comply with the provisions of the Copeland Act and the <br /> Contractor Work Hours and Safety Act. This paragraph does not apply to contracts which do not <br /> exceed $2,000. <br /> 14 <br /> 25K-50 <br /> <br />