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6 <br />i. In the event that EmPOWERment is unable to proceed with any aspect of the Project <br />in a timely manner, and County and EmPOWERment determine that reasonable <br />extension(s) for completion will not remedy the situation, then EmPOWERment will <br />retain responsibility for requirements for any dwelling units assisted and County will <br />make no further payments to EmPOWERment. <br />ii. In the event that EmPOWERment, prior to the contract completion date, is unable to <br />continue to function due to, but, not limited to, dissolution or insolvency of the <br />organization, its filing a petition for bankruptcy or similar proceedings, or is adjudged <br />bankrupt or fails to comply or perform with provisions of this agreement, then <br />EmPOWERment shall, upon the County's request, convey to the County the <br />properties assisted with funds. Conveyance shall be at the sole discretion of County <br />and on a dwelling unit by dwelling unit basis. <br />Conveyance of properties shall be on the terms set forth herein: <br />Conveyance of properties shall occur within thirty (30) days of County and <br />EmPOWERment's agreement of EmPOWERment's inability to continue as a viable <br />organization. EmPOWERment shall convey the subject properties to County by <br />general warranty deed, free and clear of all liens and encumbrances of record except <br />those which create a beneficial interest in County (Declaration of Restrictive <br />Covenants and Deed of Trust). <br />b. Default, Remedies. This Agreement may be terminated by anon-defaulting <br />party upon an event of default hereunder, after written notice thereof and thirty (30) days grace <br />period 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 any <br />undertaking, obligation, covenant or condition as set forth in this Agreement. With respect to <br />any event of default, the non-defaulting party may exercise any right available to it at law or in <br />equity with respect to such default. <br />c. Books and Records. EmPOWERment shall maintain records of its grant <br />requirements under this contract for a period of not less than five (5) full fiscal years following <br />the contract completion date. <br />i. EmPOWERment shall ensure access to records and financial statements, as <br />necessary, to provide effective monitoring and evaluation of project performance. Upon <br />reasonable advance notice, County or its authorized representatives may from time to <br />time inspect, audit, and make copies of any of EmPOWERment's records that relate to <br />this contract. If any audit by County discloses that payments to EmPOWERment were in <br />excess of the amount to which EmPOWERment was entitled under this contract, <br />EmPOWERrnent shall promptly pay to County the amount of such excess. If the excess <br />is greater than 1% of the contract amount, EmPOWERment shall also reimburse County <br />its reasonable costs incurred in performing the audit. <br />ii. EmPOWERment shall maintain files of all tenants, regardless of length of <br />