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Understanding aelmowledges that no representations, inducements, promises or Memorandum of <br />Understanding a, orally or otherwise, have been made by any party, or anyone acting on behalf of any party, <br />which are not embodied herein, and that no other Memorandum of Understanding or amendment hereto shall <br />be effective unless executed in writing and signed by both CITY and SUBRECIPIENT. <br />XV, LAWS GOVERNING THIS MEMORANDUM OF UNDERSTANDING <br />This Memorandum of Understanding shall be governed by and construed in accordance with the <br />laws of the State of California, and all applicable federal laws and regulations. <br />XVI. CLOSE-OUT <br />The SUBRECIPIENT agrees to comply with the closeout procedures detailed in 2 CFR §200.343, <br />including the following: <br />1, SUBRECIPIENT must submit, no later than ninety (90) calendar days after the end <br />date of the period of performance, all financial, performance, and other reports as required by the <br />terms and conditions of the Federal award; <br />2. Unless the CITY authorizes an extension, SUBRECIPIENT must liquidate all <br />obligations incurred under the Federal award not later than ninety (90) calendar days after the <br />end date of the period of performance as specified in the terms and conditions of the Federal <br />award; <br />3. SUBRECIPIENT must promptly refund any balances of unobligated cash that the <br />CITY paid in advance or paid and that is not authorized to be retained by SUBRECIPIENT for <br />use in other projects (See OMB Circular A-129 and 2 CFR §200.345); <br />4. SUBRECIPIENT must account for any real and personal property acquired with <br />Federal funds or received from the Federal government in accordance with 2 CFR §§200.310- <br />200.316 and 200.329; and, <br />5. The CITY should complete all closeout actions for the Federal award no later than one <br />year after receipt and acceptance of all required final reports. <br />XVII. VALIDITY AND SEVERABH,ITY <br />The invalidity in whole or in part of any provision of this Memorandum of Understanding sball not <br />void or affect the validity of any other provision of this Memorandum of Understanding . Whenever <br />passible, each provision of thus MEMORANDUM OF UNDERSTANDING shall be interpreted <br />in such manner as to be effective and valid under applicable law, but if any provision of this <br />MEMORANDUM OF UNDERSTANDING is held to be prohibited by or invalid under <br />applicable law, such provision shall be ineffective only to the extent of such prohibition or <br />invalidity, without invalidating the remainder of such provisions of this MEMORANDUM OF <br />UNDERSTANDING. <br />XV11L WAIVER <br />16 <br />