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<br /> <br />exercise any right available to it at law or in equity with respect to such default. <br />Notwithstanding and in addition to the above, in accordance with 24 CFR 85.43, this <br />Agreement may be suspended or terminated by the County if Owner materially fails <br />to comply with any term of the Agreement. Remedies for breach of the provisions of <br />this Agreement include but are not limited to repayment of any funds deemed to be <br />expended in an ineligible manner. Repayment of HOME fund is required if the <br />housing does not meet the affordability requirements for the Period of Affordability. <br /> <br />6. 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 <br />contract completion date. <br /> <br />a. The Owner shall ensure access to records and financial statements, as necessary, <br />to provide effective monitoring and evaluation of project performance. <br />Additionally, The Owner shall submit a copy of its annual audit to the County. <br /> <br />b. 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 <br />that relate to this contract. If any audit by County discloses that payments to The <br />Owner were in excess of the amount to which The Owner was entitled under this <br />contract, The Owner shall promptly pay to County the amount of such excess. If <br />the excess is greater than 1% of the contract amount, The Owner shall also <br />reimburse County its reasonable costs incurred in performing the audit. <br /> <br />c. The Owner shall maintain files of all tenants, regardless of length of occupancy, <br />residing in assisted units. Documentation shall verify eligibility for federal <br />assisted housing at the point of initial tenancy and every subsequent year <br />thereafter for the period of affordability. Information maintained shall include: <br />tenant income level; name of family members; ethnic data; family type – e.g. <br />female head of household; disability status; and monthly rent. <br /> <br />d. The Owner shall maintain records verifying the affordability of the dwelling units. <br /> <br />7. Notices. Any Notice shall be in writing and shall be given by depositing the same in <br />the United States mail, post-paid and registered or certified, and addressed to the <br />party to be notified, with return-receipt requested, or by delivering the same in person <br />to an officer or principal of such party. Notice deposited in the mail in the manner <br />here in above described shall be effective upon mailing. For purposes of Notice, the <br />addresses of the parties shall, unless changed as hereinafter provided, be as follows: <br /> <br />a. To the County: Orange County <br />c/o Housing and Community Development Department <br /> P.O. Box 8181 <br /> Hillsborough, NC 27278 <br /> ATTN: Director <br /> <br />DocuSign Envelope ID: 26C611FC-889B-477B-8950-766E41A4752D