MERCY HOUSE LIVING CENTERS (HOPWA 2012)

Home Browse Search

Property; (2) records which demonstrate compliance with the requirements set forth in Sections 8.a., 8.c., and 8.e., above; (3) records which demonstrate compliance with the property standards set forth in Attachment No. 4; (4) certifications given by contractors and subcontractors given pursuant to Sections 8.g. and 8.h., above. (5) statement of income to Project Sponsor from tenants pursuant to Section 10.a., above. Project Sponsor shall retain all books and records relevant to this Agreement for a minimum of four years after the expiration of this Agreement and any and all amendments hereto, or for four years after the conclusion or resolution of any and all audits or litigation relevant to this Agreement, whichever is later. The City, the State, HUD, and/or their representatives shall have unrestricted reasonable access to all locations, books, and records for the purpose of monitoring, auditing, or otherwise examining said locations, books, and records with or without prior notice. If so directed by the City, the State or HUD upon termination of this Agreement, Project Sponsor shall cause all records, accounts, documentation and all other materials relevant to the Work to be delivered to the City, the State or HUD, as depository. C. Audits. Project Sponsor shall be subject to periodic audits pursuant to 24 CFR Part 45. Project Sponsor shall reasonably cooperate with City in performing such audit. 11. Enforcement 124 CFR 92.504(c)(13)] This Agreement and all of its attachments, shall be enforceable by City in accordance with the terms hereof. Failure by Project Sponsor to comply with any material provision hereof shall constitute a breach. In the event of a breach, City shall provide written notice to Project Sponsor. City may terminate this Agreement in the event Project Sponsor fails to cure any such default within 30 days after notice or in the event that Project Sponsor conveys the Property to a person who does not agree to assume the obligations of Project Sponsor under this Agreement. The foregoing provision does not apply to a transfer of the Property to HUD or to a transferee of HUD. 12. Agreement Containing Covenants. Concurrently with the execution of this Agreement, City and Project Sponsor shall execute and acknowledge an Agreement Containing Covenants Affecting Real Property substantially in the form and substance of Exhibit I hereto. The executed and acknowledged Agreement Containing Covenants Affecting Real Property shall be recorded against the Property at the time of the acquisition of the Property by Project Sponsor. 13. Attachments. Project Sponsor has reviewed and, if appropriate, agrees to execute and acknowledge the following documents in substantially the form as attached to this Agreement prior to receiving the Grant, and any other documents or instruments reasonably required by the City or a Page 8 of 31