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<br />6. Proceeds from the sale of loans made with FEZ funds; <br />7. Proceeds from the sale of obligations secured by loans made with FEZ <br />funds; <br />8. Interest earned on funds held in a revolving fund account; <br />9. Funds collected through special assessments made against properties owned <br />and occupied by households not of low and moderate income, where such <br />assessments are used to recover all or part of the FEZ portion of a public <br />improvement. <br /> <br />C. Program income does not include income on grant advances from the US. Treasury. <br />The following items of income earned on grant advances must be remitted to HUD <br />for transmittal to the US. Treasury. <br /> <br />1. Interest earned from the investment ofthe initial proceeds of a grant advance <br />by the US. Treasury; <br /> <br />2. Interest earned on loans or other forms of assistance provided with FEZ <br />funds that are used for activities determined by HUD either to be ineligible <br />or to fail to meet a national objective or other federal criteria. <br /> <br />3. Interest earned on the investment of amounts reimbursed to the FEZ program <br />account prior to the use of the reimbursed funds for eligible purposes. <br /> <br />D. The receipt of program income (as defined in Paragraph III.A. hereinabove) by <br />SUB RECIPIENT in the operation of said program shall be recorded by <br />SUB RECIPIENT and reported to SAEC. <br /> <br />E. Program income received by SUBRECIPIENT shall be returned to SAEC unless <br />otherwise provided for in this Agreement. <br /> <br />IV. NONDISCRIMINATION <br /> <br />SUB RECIPIENT agrees that no person on the ground of race, color, national origin, religion <br />or sex will be excluded from participation in, be denied the benefits of: or be subjected to <br />discrimination under any program or activity funded in whole or in part with FEZ funds. <br /> <br />v. SPECIAL CERTIFICATION FOR RELIGIOUS ENTITIES <br /> <br />If SUBRECIPIENT is a religious entity, SUBRECIPIENT hereby agrees that in connection <br />with the provision of the services SUBRECIPIENT shall provide with FEZ funds: <br /> <br />A. SUBRECIPIENT shall not discriminate against any employee or applicant for <br />employment on the basis of religion and shall not limit employment or give <br />preference in employment to persons on the basis of religion. <br /> <br />B. SUBRECIPIENT shall not discriminate against any person applying for the services <br />SUB RECIPIENT agrees to provide under the terms of this Agreement on the basis <br />