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<br />30 <br />The Crossroads at Washington <br />City NSP Loan Agreement <br />"eligible costs" pursuant to 24 CFR 92.206. <br />11.16. Records and Reports. Developer shall maintain and from time to time <br />submit to City such records, reports and information as the Executive Director may <br />reasonably require in order to permit City to meet the record keeping and reporting <br />requirements required of it pursuant to 24 CFR 92.508. <br />11.17. Uniform Administrative Requirements, Cost Principles, and Audit <br />Requirements for Federal Awards. Developer shall comply with the requirements and <br />standards of 2 CFR 200. <br />11.18. Conflict of Interest. Developer shall comply with and be bound by the <br />conflict of interest provisions set forth at 24 CFR 570.611, as well as state regulations <br />pertaining to conflict of interest. <br />11.19. Monitoring. Developer shall allow the City to conduct periodic inspections <br />of the Restricted Units on the Property as required by the NSP Program after the date of <br />construction completion, with reasonable advance written notice of not less than 48 hours. <br />Developer shall cure any defects or deficiencies found by the City while conducting such <br />inspections within two weeks of written notice thereof, or such longer period as is <br />reasonable within the sole discretion of the City. <br />Not less than once per year, the City shall review Developer’s activities and operations <br />under the Agreement and Developer’s compliance with the requirements set forth in the <br />Agreement. Such review may include an on-site inspection of the Project units (including <br />unit interiors). If such an on-site inspection of the Project units is to be undertaken, the <br />City shall coordinate such inspection with Developer. The monitoring required pursuant <br />to this paragraph shall be in compliance with the requirements of 24 C.F.R. § 92.504. <br /> <br />11.20. Recertification of Tenant Income. <br />(a) Developer shall take all necessary steps to review the income of all <br />tenants prior to renting to them, as well as reviewing current tenants on an annual basis, in <br />accordance with federal and state regulations and guidelines. Every fifth (5th) year, <br />Developer shall require new original income documents to be submitted by tenants. <br />Tenants in the Restricted Units whose incomes no longer comply with federal income <br />guidelines shall have their rents adjusted in accordance with federal guidelines (24 CFR <br />92.252-92.253). <br />(b) Restricted Units continue to qualify as affordable housing despite a <br />temporary non-compliance caused by increases in the incomes of existing tenants if actions <br />satisfactory to HUD are being taken to ensure that all vacancies are filled in accordance <br />with this section (24 CFR 92.252-92.253) until the non-compliance is corrected. <br />11.21. Intentionally Omitted. <br />11.22. Controlling Covenants. If there is a discrepancy between State of <br />California and Federal law with regard to any of the aforementioned covenants, the more <br />EXHIBIT 6