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DocuSign Envelope ID:758215CF-OA18-45F8-8807-AB90F35D5BA2 <br /> b. Habitat shall convey the Property to the County by general warranty deed, free <br /> and clear of all liens and encumbrances of record except those which create a <br /> beneficial interest in County (Declaration of Restrictive Covenants and Deed of <br /> Trust). <br /> E. Default, Remedies. This Agreement may be terminated by a non-defaulting party upon <br /> 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 <br /> of default" shall mean and refer to a failure or act of omission by either party with respect <br /> to any undertaking, obligation, covenant or condition as set forth in this Agreement. <br /> With respect to any event of default, the non-defaulting party may exercise any right <br /> available to it at law or in equity with respect to such default. Notwithstanding and in <br /> addition to the above, in accordance with 24 CFR 85.43, this Agreement may be <br /> suspended or terminated by the County if Habitat materially fails to comply with any <br /> term of the Agreement. Remedies for breach of the provisions of this Agreement include <br /> but are not limited to repayment of any funds deemed to be expended in an ineligible <br /> manner. Repayment of HOME fund is required if the housing does not meet the <br /> affordability requirements for the Period of Affordability. <br /> F. Books and Records. Habitat shall maintain records of its grant requirements under this <br /> contract for a period of not less than five (5) full fiscal years following the contract <br /> completion date. <br /> 1. 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 /> 2. Upon reasonable advance notice, County or its authorized representatives may from <br /> time to time inspect, audit, and make copies of any of Habitat records that relate to <br /> this contract. If any audit by County discloses that payments to Habitat were in excess <br /> of the amount to which Habitat was entitled under this contract, Habitat shall <br /> promptly pay to County the amount of such excess. If the excess is greater than 1% of <br /> the contract amount, Habitat shall also reimburse County its reasonable costs incurred <br /> in performing the audit. <br /> 3. Habitat shall maintain files of all homebuyers, regardless of length of occupancy, <br /> residing in assisted units. Documentation shall verify eligibility for federal assisted <br /> housing at the point of initial purchase. Information maintained shall include: tenant <br /> income level; name of family members; ethnic data; family type— e.g. female head of <br /> household; disability status; and monthly rent. <br /> 4. Habitat 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 in the <br /> 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 /> 7 <br />