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Conveyance shall be on the terms set forth herein: <br />Conveyance shall occur within thirty (30) days of County and The Owner' agreement of the <br />Owner' inability to continue as a viable organization. The Owner shall convey the Property to <br />the County by general warranty deed, free and clear of all liens and encumbrances of record <br />except those which create a beneficial interest in County (Declaration of Restrictive Covenants <br />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 />£ Books and Records. The Owner shall maintain records of its grant requirements <br />under this contract for a period of not less than five (5) full fiscal years following the contract <br />completion date. <br />i. The Owner shall ensure access to records and financial statements, as necessary, <br />to provide effective monitoring and evaluation of project performance. Additionally, The Owner <br />shall submit a copy of its annual audit to the County. <br />ii. Upon reasonable advance notice, County or its authorized representatives may <br />from time to time inspect, audit, and make copies of any of The Owner records that relate to this <br />contract. If any audit by County discloses that payments to The Owner were in excess of the <br />amount to which The Owner was entitled under this contract, The Owner shall promptly pay to <br />County the amount of such excess. If the excess is greater than 1 % of the contract amount, The <br />Owner shall also reimburse County its reasonable costs incurred in performing the audit. <br />iii. The Owner shall maintain files of all tenants, regardless of length of occupancy, <br />residing in assisted units. Documentation shall verify eligibility for federal assisted housing at <br />the point of initial tenancy and every subsequent year thereafter for the period of affordability. <br />Information maintained shall include: tenant income level; name of family members; ethnic data; <br />family type - e.g. female head of household; disability status; and monthly rent. <br />iv. The Owner shall maintain records verifying the affordability of the dwelling units. <br />g. Notices. Any Notice shall be in writing and shall be given by depositing the same <br />in the United States mail, post-paid and registered or certified, and addressed to the party to be <br />notified, with return-receipt requested, or by delivering the same in person to an officer or <br />principal of such party. Notice deposited in the mail in the manner here in above described shall <br />be effective upon mailing. For purposes of Notice, the addresses of the parties shall, unless <br />changed as hereinafter provided, be as follows: <br />