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advances by DEVELOPER on behalf of CITY, in furtherance of the activities hereunder or thereof. DEVELOPER's obligations and responsibilities, set forth in this paragraph ."X REVERSION OF ASSETS" and in paragraphs "SX TERMINATION" and "VIII PROGRAM INCOME" shall not be affected by the termination of this agreement and shall survive the date of termination of this agreement for such period of time as CITY and/or HUD deems necessary for the responsibilities, duties and obligations to be performed and completed to the satisfaction of CITY and HUD. XI LIMITATION OF FUNDS The United States of America, through HUD, may in the future place programmatic or fiscal limitations on the use of CDBG funds which limitations are not presently anticipated. According- ly, CITY reserves the right to revise this agreement in order to take account of actions affecting HUD program funding. In the event of funding reduction, CITY may, in its sole and absolute discretion, reduce the budget of this agreement as a whole or as to costs category, may limit the rate of DEVELOPER's authority to commit and spend funds, or may restrict DEVELOPER Is use of both its uncommitted and unspent funds. Where HUD has directed or requested CITY to implement a reduction in funding, in whole or as to a cost category, with respect to funding for this agreement, CITY's City Manager or delegee is authorized to act for CITY in implementing and effecting such a reduction and in revising, modifying, or amending the agreement for such purposes. Where CITY has reason- able grounds to question DEVELOPER's fiscal accountability, financial soundness, or compliance with this agreement, CITY may suspend the operation of this agreement for up to sixty (60) days upon five (5) days written notice to DEVELOPER of its intention to so act, pending an audit or other resolution of such questions. in no event, however, shall any revisions made by CITY affect expenditures and legally binding commitments made by DEVELOPER before' it received notice of such revision, provided that such amounts have been committed in good faith and are otherwise allowable and that such commitments are consistent with HUD cash withdrawal guidelines. XII CLOSE OUT PROCEDURES A. This agreement shall be closed out when: 1. All costs to be paid for by CDBG funds have been incurred; with the exception of close out costs and costs associated with contingent liabilities as set forth in 24 CFR 570.509 (c) (i) ; 2. Any rehabilitation activities to private property have actually been completed; and Page 9 of 11 Pages