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ii. In the event that Habitat, 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 similar proceedings, or is adjudged bankrupt or <br />fails to comply or perform with provisions of this agreement, then Habitat shall, upon <br />the County's request, convey to the County the Property assisted with HOME funds. <br />Conveyance shall be at the sole discretion of the County and on a Project dwelling <br />unit by Project dwelling unit basis. <br />Conveyance shall be on the terms set forth herein: <br />Conveyance shall occur within thirty (30) days of the County and Habitat's agreement. <br />of Habitat inability to continue as a viable organization. Habitat shall convey the <br />Property to the County by general warranty deed, free and clear of all liens and <br />encumbrances of record except those which create a beneficial interest in the County <br />(Declaration of Restrictive Covenants and Deed of Trust). <br />e. 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 at law or in <br />equity with respect to such default. <br />f. Books and Records. Habitat shall maintain records of its requirements under this <br />Agreement for a period of not less than five (5) full fiscal years following the Agreement <br />completion date. <br />i. Habitat shall ensure access to records and financial statements, as necessary, to <br />provide effective monitoring and evaluation of project ,performance. Additionally, <br />Habitat shall submit a copy of its annual audit to the County. <br />Upon reasonable advance notice, the County or its authorized representatives may from <br />time to time inspect, audit, and make copies of any of Habitat records that relate to this <br />contract. If any audit by the County discloses that payments to Habitat were in excess of <br />the amount to which Habitat was entitled under this contract, Habitat shall promptly pay <br />to the County the amount of such excess. If the excess is greater than 1% of the contract <br />amount, Habitat shall also reimburse the County its reasonable costs incurred in <br />performing the audit. <br />ii. Habitat shall maintain files of all tenants, regardless of length of occupancy, <br />residing in assisted- units. Documentation shall verify eligibility for federal assisted <br />housing at the point of initial tenancy and every subsequent year thereafter for the period <br />of affordability. Information maintained shall include: tenant income level; name of <br />family members; ethnic data; family type - e.g. female head of household; disability <br />status; and monthly rent. <br />7 <br />