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25 <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 or ESFRLP17 Application <br /> fbr 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 ESFRLPI 7 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 CPR 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 ptoper <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 then authorized representatives or <br /> agent, shall have the right to inspect the housing rehabilitation work performed with ESFRLPI7 funds <br /> provided under this Agreement for the purpose of determining if work is being carried out in accordance <br /> with the EST RLP17 Program Guidelines and the HOME regulations All dwelling units rehabilitated under <br /> EST RLP17 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. §143 C-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 fiom time to time. Iheref6m,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 fiom time to time and it is the Mcmber'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 />