Laserfiche WebLink
J. DEVELOPER agrees to maintain a record for each item <br />of non -expendable property acquired under the ter -ins of this <br />agreement. Said record shall be made available to CITY upon <br />request. The term !'Non -expendable property" shall include tangible <br />personal property (including but not limited to office equipment), <br />real property and any interest in such real property, including any <br />mortgage, trust deed, or other encumbrance of real property, and <br />the funds received from the sale of any interest in real property. <br />Any utilization of funds from the disposition, including sale, of <br />non -expendable property must have the approval of CITY and HUD and <br />otherwise comply with HUD or other federal laws and regulations. <br />In the event of termination of this agreement, CITY reserves the <br />right to determine the final disposition of said non -expandable <br />property, including funds and/or any other assets derived there- <br />from. Said disposition may include CITY taking possession of said <br />non -expendable property.. The term "Non -expendable personal <br />property" means leased and purchased tangible personal property <br />having a useful life of more than one (1) year and acquisition cost <br />of $300.00 or more per unit. <br />II CITY'S OBLIGATIONS <br />A. CITY shall pay to DEVELOPER from CDBG funds, when, <br />if and to the extent received from HUD, amounts expended by <br />DEVELOPER in carrying out the Project pursuant to this agreement up <br />to a maximum aggregate payment of 1W_ <br />�$3a.��►n.aA ) in installments determined by CITY. <br />B. CITY shall include an audit of the account main- <br />tained by DEVELOPER pursuant to Paragraph I.E. hereinabove in <br />CITY's annual audit of all CDBG funds pursuant to federal regula- <br />tions founds in Title 24 of the Code of Federal Regulations and <br />other applicable federal laws and regulations. <br />III NOTICES <br />Notices to the parties shall, unless otherwise requested <br />in writing, be sent by U.S. Mail, postage prepaid, and addressed as <br />follows: <br />TO CITY: City of Santa Ana <br />20 Civic Center Plaza <br />Santa Ana, California 92701 <br />TO DEVELOPER: <br />Sok....-- <br />IV PROHIBITION OF NEPOTISM <br />DEVELOPER agrees not to hire or permit the hiring of any <br />person to fill a position funded through his agreement if a member <br />Page 4 of 11 Pages <br />