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12 <br /> Program eligibility of homeowners, facilitating loan closings, and inspecting work performed and <br /> training and supervising its staff adequately.The Agency has received and reviewed information that <br /> describes the Member's operating plan for staffing and administering its Project. The Agency has <br /> relied on the information provided by the Member in the Member's original ESFRLP17 Application <br /> for Funding in making its decision to approve the grant and execute this Agreement. The Member <br /> must notify the Agency about any material changes in its operating plan,any events that may have a <br /> significant impact on the Project, or any other changes to information provided in the Members <br /> original ESFRLP17 Application for Funding. <br /> (b) The Member shall execute a Written Agreement (the "Homeowner Written Agreement") with each <br /> Homeowner to be assisted, prior to disbursing any funds for the unit. The Written Agreement is <br /> provided by the Agency and complies with 24 CFR 92.504(5)(ii).The Agency will enforce the terms <br /> of the Written Agreement through a deed of trust recorded against the property using any legal <br /> remedy available,including possible foreclosure of the project,and/or any other remedy specified for <br /> breach in the loan documents. <br /> (c) If the Member is monitored by the Agency or an authorized representative and if a lack of proper <br /> financial or project controls is observed, the Agency reserves the right to consider this agreement <br /> breached and may hold disbursement requests from the Member until such issues are resolved. <br /> Section 4: Right to Inspect <br /> The Agency,HUD and the Comptroller General of the United States,or their authorized representatives or <br /> agent, shall have the right to inspect the housing rehabilitation work performed with ESFRLP17 funds <br /> provided under this Agreement for the purpose of determining if work is being carried out in accordance <br /> with the ESFRLP17 Program Guidelines and the HOME regulations. All dwelling units rehabilitated under <br /> ESFRLP17 must meet the ESFRLP17 Rehabilitation Standards in accordance with PG 2.5. <br /> Part X. Reporting and Audit Requirements <br /> Section 1: State Requirements. <br /> (a) If the Member is a non-profit organization or otherwise meets the definition of a "Subgrantee" in <br /> N.C.G.S. §143C-6-23(a)(4) then it is subject to the State reporting requirements mandated by <br /> N.C.G.S. § 143C-6-23, as may be amended from time to time. Therefore, the Member is required <br /> to file annual electronic reports with the NC Office of State Budget & Management. A <br /> "Subgrantee" that receives, uses, or expends State funds and in the amount greater than five <br /> hundred thousand dollars($500,000)within its fiscal year(from any source)must have an audit in <br /> accordance with 09 NCAC 03M .0205. The amounts and requirements listed in the statute may <br /> change from time to time and it is the Member's responsibility to periodically check the statutes <br /> for any amendments or changes thereto. <br /> (b) If the Member is a unit of local government then it must comply with N.C.G.S. § 159-34, as may <br /> be amended from time to time, as referenced in the ESFRLP17 Program Guidelines, Section 3.8 <br /> Financial Audit Requirements. <br /> Page 7 of 16 <br />