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e. Default, Remedies. This Agreement may be terminated by a non-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. 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 from time <br /> to time inspect, audit, and make copies of any of The Owner records that relate to this contract. If <br /> any audit by County discloses that payments to The Owner were in excess of the amount to <br /> which The Owner was entitled under this contract, The Owner shall promptly pay to County the <br /> amount of such excess. If the excess is greater than 1% of the contract amount, The Owner shall <br /> 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, residing <br /> in assisted units. Documentation shall verify eligibility for federal assisted housing at the point <br /> 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 /> i. To the County: Orange County <br /> c/o Housing, Human Rights and Community <br /> Development Department <br /> P.O. Box 8181 <br /> Hillsborough, NC 27278 <br /> ATTN: Director <br />