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8 <br />1. In the event that CHT is unable to proceed with any aspect of the Project in a timely <br />manner, and County and CHT determine that reasonable extension(s) for completion <br />will not remedy the situation, then CHT will retain responsibility for requirements for <br />any dwelling units assisted and County will make no further payments to the CHT. <br />2. In the event that CHT, prior to the contract completion date, is unable to continue to <br />function due to, but, not limited to, dissolution or insolvency of the organization, its <br />filing a petition for bankruptcy or similar proceedings, or is adjudged bankrupt or fails <br />to comply or perform with provisions of this agreement, then CHT shall, upon the <br />County’s request, convey to the County the Property assisted with HOME funds. <br />Conveyance shall be at the sole discretion of County and on a Project dwelling unit <br />by Project dwelling unit basis. Conveyance shall be on the terms set forth herein: <br />a. Conveyance shall occur within thirty (30) days of County and CHT's agreement <br />of CHT’s inability to continue as a viable organization. <br />b. CHT shall convey the Property to the County by general warranty deed, free and <br />clear of all liens and encumbrances of record except those which create a beneficial <br />interest in County (Declaration of Restrictive Covenants and Deed of 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 period <br />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 <br />any undertaking, obligation, covenant or condition as set forth in this Agreement. With <br />respect to any event of default, the non-defaulting party may exercise any right available <br />to it at law or in equity with respect to such default. Notwithstanding and in addition to <br />the above, in accordance with 24 CFR 85.43, this Agreement may be suspended or <br />terminated by the County if CHT materially fails to comply with any term of the <br />Agreement. Remedies for breach of the provisions of this Agreement include but are not <br />limited to repayment of any funds deemed to be expended in an ineligible manner. <br />Repayment of HOME fund is required if the housing does not meet the affordability <br />requirements for the Period of Affordability. <br />F. Books and Records. CHT 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. CHT shall ensure access to records and financial statements, as necessary, to provide <br />effective monitoring and evaluation of project performance. Additionally, CHT shall <br />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 CHT' records that relate to this <br />contract. If any audit by County discloses that payments to CHT were in excess of the <br />amount to which CHT was entitled under this contract, CHT shall promptly pay to <br />DocuSign Envelope ID: BDBF6EEB-BEEA-472C-85F1-0820A6F699C3