SANTA ANA EMPOWERMENT CORPORATION (2) - 2007

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Q. SUBRECIPIENT acknowledges and warrants that prior to having any contractor perform work paid for by FEZ funds, that it shall be responsible (i) for providing such contractor with a copy of this Agreement, and (ii) ensuring that any such contractor executes and provides to the Executive Director of SAEC a letter in substantially the form of Exhibit D hereto, agreeing to be bound by the terms of this Agreement. R. SUBRECIPIENT acknowledges and warrants that during the term of this Agreement it shall to the maximum extent feasible collaborate with other SUBRECIPIENT to ensure that duplication of services is avoided. Such collaboration shall include, but not be limited to, regular attendance (i.e., an attendance record exceeding 50%) and active participation in the appropriate committee or committees established pursuant to the Strategic Plan. II. SAEC'S OBLIGATIONS Upon execution of this Agreement by SUBRECIPIENT, SAEC shall pay to SUBRECIPIENT from FEZ funds, when, if and to the extent received from HUD, for SAEC's 2006-07 and 2007-08 FEZ program year amounts expended by SUBRECIPIENT in carrying out said program for fiscal year 2006-07 and 2007-08 pursuant to this Agreement up to a maximum aggregate payment of Two-Hundred and Fifty Thousand Dollars ($250,000.00) in installments determined by SAEC. Payments shall be made to SUB RECIPIENT through the submission of periodic invoices, in a form prescribed by SAEC, detailing such expenses. SAEC shall pay such invoices within thirty (30) days after receipt thereof provided SAEC is satisfied that such expenses have been incurred within the scope of this Agreement and that SUBRECIPIENT is in compliance with the terms and conditions of this Agreement. Ill. PROGRAM INCOME A. For the purposes of this Article (III) "Program income," shall mean gross income received by the SUBRECIPIENT directly generated from the use of FEZ funds, except as provided below in Paragraph III.C. When such income is generated by an activity that is only partially assisted with FEZ funds, the income shall be prorated to reflect the percentage of FEZ funds used. B. Program income includes, but is not limited to the following: I. Proceeds from the disposition by sale or long term lease of real property purchase or improved with FEZ funds; 2. Proceeds from the disposition of equipment purchased with FEZ funds. 3. Gross income from the use or rental of real or personal property acquired by the SUB RECIPIENT with FEZ funds, less the costs incidental to the generation of such income; 4. Gross income from the use or rental of real property owned by the SUBRECIPIENT that was constructed or improved with FEZ funds, less the costs incidental to the generation of such income; 5. Payments of principal and interest on loans made using FEZ funds;