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Section 7: Procurement Procedures <br /> The Member shall use Agency-approved written procurement and contracting procedures which provide <br /> that proposed procurement and contracting actions will be properly managed. The Member shall use <br /> written contracts with all firms providing services for rehabilitation work or professional services under <br /> the Program. <br /> Section 8: Annual Audit Report <br /> The Member must comply with OMB Circular A-133, 24CFR84.26 and 24CFR85.26; governmental <br /> organizations must comply with NC GS 159-34 as referenced in the SFR11 Program Guidelines, <br /> Section 3.8 Financial Audit Requirements. <br /> PART D: PROGRAM MANAGEMENT <br /> Section 9: Program Guidelines <br /> (a) The terms of the Agreement are subject,in all respects,to the SFRI l Program Guidelines,and all <br /> defined terms used in this Agreement shall have the same meanings as used in the SFR11 <br /> Program Guidelines. In the event the Program Guidelines are revised,the Agency will forward <br /> such revisions to the Member and,thereby, make them a part of this Agreement. Failure of the <br /> Member to comply with the terms and conditions of the SFR11 Program Guidelines, as <br /> supplemented or amended shall be an event of default by the Member under this Agreement. <br /> (b) The Agency may reduce, suspend,recapture,or otherwise change the disbursement of payments <br /> under this Agreement, and the Agency may terminate this Agreement if it determines that the <br /> Member has failed to comply with the Program Guidelines. <br /> Section 10: Program Documents <br /> The conduct of the Member's activity uses loans to finance eligible repairs for participants. Each SFR <br /> loan shall be evidenced by a promissory note. In order to secure the note,the Member shall require the <br /> execution and recordation of a lien(i.e.Deed of Trust)against a property being improved. The Agency <br /> shall provide prepared-standard deeds of trust and promissory notes and other ancillary loan documents <br /> to the Member. The Member is required to facilitate the loan closing, record the Deeds of Trust and <br /> submit the documents to the Agency in accordance with PG 4.6&4.7. Additionally,the conduct of the <br /> Page 6 of 12 <br />