STRAIGHT TALK, INC. -2007 - Laserfiche WebLink

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the additional insured and, at the option of such additional insured, may be applied to any indebtedness owed to such insured or released for repair or rebui lding of the Property. Surplus insurance proceeds thereafter may be disbursed to the Developer. 10. Records and Reports. 24 CFR 92.504(c) (12). Developer shall prepare, maintain and submit to the City, as appropriate, the following records and reports: a. Annual Reports. Developer shall file with the City an Annual Report (herein referred to as the "Annual Report") within sixty (60) days following the end of each caJ endar year, commencing ,-'i th the end of the calendar year during which the acquisition is completed. The Annual Report shall include, and shall contain a certification with regard to, the rental rate and the income and family size of the occupants for each dwelling unit on the Property who have inhabited the Property during the previous calendar year. Developer shall obtain the income information required to be included in the Annual Report from the occupants of the Property. Any lease or other agreement that Developer requires occupants of the dwelling units on the Property to execute shall require the occupants to provide such income information upon the request of the Developer. The Annual Report shall contain a certification by Developer as to such olher information the Deputy City Manager for Development Services or his/her designee may reasonably require. (I) subcontractors above. Certifications given by contractors and (if any) given pursuant to Sections 8. g. and 8. h. , (2) Statement of income to Developer from tenants pursuant to Section 10.a., above. Developer shall retain all books and records relevant to this Agreement for a minimum of four years after the expiration of this Agreement and any and all amendments hereto, or for four years after the conclusion or resolution of any and all audits or litigation relevant to this Agreement, whichever is later. The City, the State, HUD, and/or their representatives shall have unrestricted reasonable access to all locations, books, and records for the purpose of monitoring, auditing, or otherwise examining said locations, books, and records with or without prior notice. If so directed by the City, the State or HUD upon termination of this Agreement, Developer shall cause all records, accounts, documentation and all other materials relevant to the Work to be delivered to the City, the State or HUD, as depository. c. Audi ts. Developer shall be subj ect to periodic audits pursuant to 24 CFR Part 45. Developer shall reasonably cooperate with City in performing such audit. Straight Talk Development Agreement 7/18/2007 7