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• requirements for any dwelling unit assisted and County will make no further <br />payments to OCHLT. <br />ii. In the event that OCHLT, prior to the contract completion date, is unable to continue <br />to function due to, but, not limited to, dissolution or insolvency of the organization, <br />its filing a petition for bankruptcy or similaz proceedings, or is adjudged bankrupt or <br />fails to comply or perform with provisions of this agreement, then OCHLT shall, <br />upon the County's request, convey to the County the project dwelling unit assisted <br />with funds. Conveyance shall be at the sole discretion of County and on a dwelling <br />unit by dwelling unit basis. <br />Conveyance shall be on the terms set forth herein: <br />Conveyance shall occur within thirty (30) days of County and OCHLT's agreement <br />of OCHLT's inability to continue as a viable organization. OCHLT shall convey the <br />Property to the County by general warranty deed, free and cleaz of all liens and <br />encumbrances of record except those which create a beneficial interest in County <br />(Declaration of Restrictive Covenants) and any other agreed to by County in writing. <br />b. Default, Remedies. This Agreement may be terminated by anon-defaulting <br />party upon an event of default hereunder, after written notice thereof and thirty (30) days grace <br />• period in which the defaulting party may act to cure. As used herein, the term "an event of <br />default" shall mean and refer to a failure or act of omission by either party with respect to any <br />undertaking, obligation, covenant or condition as set forth in this Agreement. With respect to <br />any event of default, the non-defaulting party may exercise any right available to it of law or in <br />equity with respect to such default. <br />c. Books and Records. OCHLT shall maintain records of its grant requirements <br />under this contract for a period of not less than five (5) full fiscal yeazs following the contract <br />completion date. <br />i. OCHLT shall ensure access to records and financial statements, as necessary, to <br />provide effective monitoring and evaluation of project performance. Additionally, <br />OCHLT shall submit a copy of its annual audit to the County. <br />Upon reasonable advance notice, County or its authorized representatives may from time <br />to time inspect, audit, and make copies of any of OCHI,T records that relate to this <br />contract. If any audit by County discloses that payments to OCHLT were in excess of the <br />amount to which OCHLT was entitled under this contract, OCHLT shall promptly pay to <br />County the amount of such excess. If the excess is greater than 1 % of the contract <br />amount, OCHLT shall also reimburse County its reasonable costs incurred in performing <br />the audit. <br />• ii. OCHLT shall maintain files of all tenants residing in the assisted unit. <br />Documentation shall verify eligibility for federal assisted housing at the initial <br />4 <br />