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those which create a beneficial interest in County (Declaration of <br />Restrictive Covenants and Deed of Trust). <br /> <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 200.338 and 24 CFR 200.339, this Agreement may be <br />suspended or terminated by the County, in whole or in part, if CEF materially <br />fails to comply with any term of the Agreement. Remedies for breach of the <br />provisions of this Agreement include but are not limited to repayment of any <br />funds deemed to be expended in an ineligible manner. Repayment of HOME <br />funds is required if the housing does not meet the affordability requirements for <br />the HOME Affordability Period. <br /> <br />F. Books and Records. CEF shall maintain records of its grant requirements under <br />this contract for a period of not less than five (5) full fiscal years following the <br />contract completion date. <br /> <br />1. CEF shall ensure access to records and financial statements, as necessary, <br />to provide effective monitoring and evaluation of project performance. <br />Additionally, CEF shall submit a copy of its annual audit to the County. <br /> <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 CEF’s <br />records that relate to this contract. If any audit by County discloses that <br />payments to CEF were in excess of the amount to which the CEF was <br />entitled under this contract, CEF shall promptly pay to County the amount <br />of such excess. If the excess is greater than 1% of the contract amount, <br />CEF shall also reimburse County its reasonable costs incurred in <br />performing the audit. <br /> <br />3. CEF shall maintain files of all homebuyers, regardless of length of <br />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 /> <br />4. CEF shall maintain records verifying the affordability of the dwelling <br />units. <br /> <br />DocuSign Envelope ID: 5B8E357F-436A-4B92-B6EA-A3046F40AC7EDocuSign Envelope ID: 66442AA5-FA51-4D49-BD8A-B8CAFCBD6F8B