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DocuSign Envelope ID:837C993F-4D81-4CE1-8185-B2C0610EDD8B <br /> b. The HOME Awardee shall convey the Property to the County by <br /> general warranty deed, free and clear of all liens and encumbrances <br /> of record except those which create a beneficial interest in County <br /> (Declaration of Restrictive Covenants and Deed of Trust). <br /> E. 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) <br /> days grace period in which the defaulting party may act to cure. As used herein, <br /> the term"an event of default" shall mean and refer to a failure or act of omission <br /> by either party with respect to any undertaking, obligation, covenant or condition <br /> as set forth in this Agreement. With respect to any event of default, the non- <br /> defaulting party may exercise any right available to it at law or in equity with <br /> respect to such default. Notwithstanding and in addition to the above, in <br /> accordance with 24 CFR 85. 43, this Agreement may be suspended or terminated <br /> by the County if the HOME Awardee materially fails to comply with any term of <br /> 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 <br /> ineligible manner. Repayment of HOME funds is required if the housing does not <br /> meet the affordability requirements for the HOME Affordability Period. <br /> F. Books and Records. The HOME Awardee shall maintain records of its grant <br /> requirements under this contract for a period of not less than five (5) full fiscal <br /> years following the contract completion date. <br /> 1.The HOME Awardee shall ensure access to records and financial <br /> statements, as necessary, to provide effective monitoring and evaluation of <br /> project performance. Additionally, the HOME Awardee shall submit a <br /> copy of its annual audit to the County. <br /> 2.Upon reasonable advance notice, County or its authorized representatives <br /> may from time to time inspect, audit, and make copies of any of the <br /> HOME Awardee's records that relate to this contract. If any audit by <br /> County discloses that payments to the HOME Awardee were in excess of <br /> the amount to which the HOME Awardee was entitled under this contract, <br /> the HOME Awardee shall promptly pay to County the amount of such <br /> excess. If the excess is greater than 1% of the contract amount, the HOME <br /> Awardee shall also reimburse County its reasonable costs incurred in <br /> performing the audit. <br /> 3.The HOME Awardee shall maintain files of all homebuyers, regardless of <br /> length of occupancy, residing in assisted units. Documentation shall verify <br /> eligibility for federal assisted housing at the point of initial purchase. <br /> Information maintained shall include: tenant income level; name of family <br /> members; ethnic data; family type (e. g., female head of household); <br /> disability status; and monthly rent. <br /> 8 <br />