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DocuSign Envelope ID:6DC1ED22-B276-4193-B1F9-548B6AFFC7C5 <br /> c. Conveyance shall occur within thirty (30) days of County and the Owner's <br /> agreement of the Owner's inability to continue as a viable organization. The <br /> Owner 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 <br /> beneficial interest in County (Declaration of Restrictive Covenants and Deed of <br /> Trust). <br /> 2. Default, Remedies. This Agreement may be terminated by a non-defaulting party <br /> upon an event of default hereunder, after written notice thereof and thirty (30) days <br /> grace period in which the defaulting party may act to cure. As used herein, the term <br /> "an event of default" shall mean and refer to a failure or act of omission by either <br /> party with respect to any undertaking, obligation, covenant or condition as set forth in <br /> this Agreement. With respect to any event of default, the non-defaulting party may <br /> exercise any right available to it at law or in equity with respect to such default. <br /> 3. Books and Records. The Owner shall maintain records under this contract for a <br /> period of not less than the completion of the affordability periods for all Project <br /> dwelling units. <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 /> 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 /> 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 /> d. The Owner shall maintain records verifying the affordability of the dwelling units. <br /> 4. 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 /> 7 <br />