FOUNTAINHEAD PARTNERS-2003 - Laserfiche WebLink

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11/14/03 (9) records if certifications of contractor qualifications as they relate to the debarment and suspension requirement as stated in 24 CFR 92.357 and 24 CFR Part 24; and C. All records pertaining to each fiscal year of HOME funds must be retained for the most recent five year period, except that for rental housing projects, records may be retained for five years after the project completion date; except that records of individual tenant income verifications, project rents and project inspections must be retained for the most recent five year period, until five years after the affordability period terminates (24 CFR 92.508). DEVELOPER shall cooperate with the City to retain all boobs and records relevant to the .Loan Agreement for a minimum of five years after the expiration of the Loan Agreement and any and all amendments hereto, or for five years after the conclusion or resolution of any and all audits or litigation relevant to the Loan Agreement, whichever is later. The City, the State, the Office of the Auditor General of 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. d. if so directed by the Agency, City, the State or HUD upon termination of the Loan Agreement, DEVELOPER shall cause all records, accounts, documentation and all other materials relevant to the work to be delivered to the Agency, City, the State or HUD, as depository. e. All records, accounts, documentation and other materials relevant to the Project shall be accessible at any time to the authorized representatives of the Agency, City, the State or HUD, on reasonable prior notice, for the purpose of examination or audit. f Pursuant to 24 CFR Part 44, the City shall perform an annual audit at the close of each fiscal year in which this Agreement is in effect_ DEVELOPER shall reasonably cooperate with City in performing such audit. 15. The City and Agency are beneficiaries of the terms and provisions of this Agreement and the covenants herein, both for and in their own right and for the purposes of protecting the interests of the community and other parties, public or private, for whose benefit this Agreement and the covenants running with the land have been provided. The City and Agency shall have the right if the covenants are breached, to exercise all rights and remedies, and to maintain any actions or suits at law or in equity or other proper proceedings to enforce the curing of such breaches to which they or any other beneficiaries of this Agreement and covenants are entitled. 16. The covenants and agreements contained herein shall run with the land and not be personal obligations of DEVELOPER. Upon the sale, conveyance or other transfer of the Property (a "Transfcr'� and the assumption of the obligations hereunder 11 of 14