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505 <br />XII. TERMINATION <br />A. This Agreement may be terminated on thirty (30) dayd written notice by either <br />party. In the event of such termination, SUBRECI R ENT shall only be entitled to reiffbirserrat <br />for approved expenses incurred to the effective date of termnation. <br />B. This Agreement may be suspended or terminated by CITY upon five (5) days' <br />written noti oe f or violation by SU BRECI R ENT of Federal Laws goveni ng the use of Community <br />Developrnent Block Grait Funds In the event of such suspension or termi nation, SUBRECI R ENT <br />shall only be entitled to reimbursement for approved expenses incurred up to the effective date of <br />suspe si on or termi nab on. <br />C. Rrsuant to 24 CFR 85.43, in the event SUBRECI RENT defa,its by failing to fulfi II <br />all or any of its obligations hereunder, CITY may declare a default and termination of this <br />Agreement by written notice to SUBRECIR ENT, which default and termination shall be effective <br />on a date stated in the notice which is to be not less than ten (10) days after certified mailing or <br />personal service of such notice, unless such default is cured before the effective date of termination <br />stated in such notice: If terminated for cam CITY shall be relieved of further liability or <br />responsi bi I ity under this Agreement, or as a result of the term nation thereat, inducing the payment <br />of money, ecoept for payment for approved expenses incurred for services satisfactorily and timely <br />performed prior to the maiIi rig or service of the notice of term nation, and accept for rei mburserner t <br />Of (1) any payments made for services not subsequently performed in a timely and satisfactory <br />manner, and (2) costs inc rred by CITY in obtaining substitute performance <br />D. The grant of funds under this Agreement may be terminated for convenience in <br />a000rdatoewith 24 CFR 85.44. <br />E. The grant of funds urxier this Agreement may be terminated due to the non- <br />peforrnanoe of SUBRECI R ENT and/or fai I ure of SUBRECI PENT to perform the work described <br />in Exhibits A and B or failure to meet the performance standards and program goals set forth <br />therein. <br />F. In the event this Agreement is terminated as set forth in subparagraphs X 1 I .A. <br />through XII . E, i nd usivA SUBRECI R ENT agrees to immediately return to CITY upon CI TY's <br />demand and prior to any adjudication of SUBRECI R ENTs rights, any and all funds not used, and <br />to comply with paragraph "XI. REVERSION OF ASSETS' of thhisAgreenrent. <br />XII I. LIMITATION OF FUNDS <br />The United States of America through HUD, may in the future place programmatic or fiscal <br />I i mitations on the use of CDBG funds which limitations are not presently anticipated. Accordingly, <br />CITY reserves the right to revise this Agreernerrt in order to take account of actions affecting HUD <br />program fundi ng. In the event of funding reduction, CITY may, in its sole and absolute discretion, <br />13 <br />