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9. Revenue Disclosure Requirement. Recipient Agency shall make available all <br />books and records pertaining to each project or business activity that is funded by CDBG Funds <br />under this MOU for inspection and audit by HUD's representatives, upon request, at any time <br />during the term of this MOU and during a period of 5 years thereafter. All such books and <br />records shall be maintained by Recipient Agency at a location in Orange County. Failure of <br />Recipient Agency to comply with the requirements of this section shall constitute a material <br />breach for which City may terminate or suspend this MOU. <br />10. Audit Report Requirements. Recipient Agency agrees that if Recipient Agency <br />receives Three Hundred Thousand Dollars ($300,000.00) or more in federal funds, Recipient <br />Agency shall have an annual audit conducted by a certified public accountant in accordance <br />with the standards as set forth and published by the United States Office of Management and <br />Budget. Recipient Agency shall provide City with a copy of said audit by October 1 of the year <br />following the program year in which this Agreement is executed. <br />11. Termination. This Agreement may be terminated in the following manner <br />for the following reasons: (a) on thirty (30) days' written notice by either party; (b) upon <br />five (5) days' written notice for violation of Federal Laws governing the use of CDBG <br />Funds by Recipient Agency; (c) terminated for convenience in accordance with 24 CFR <br />85.44; and (d) terminated due to the non-performance of Recipient Agency and/or failure <br />of Subrecipent to perform the work described in Exhibits A and B or failure to meet the <br />performance standards and program goals set forth therein. In the event of any such <br />termination, Recipient Agency shall only be entitled to reimbursement for approved <br />expenses incurred to the effective date of termination and any and all funds not used <br />must be returned to City per the paragraph below. <br />12. Reversion of Assets. Upon the expiration of this Agreement, Recipient <br />Agency shall transfer to City any CDBG funds on hand at the time of the expiration of this <br />Agreement as well as any accounts receivable attributable to the use of CDBG funds. [24 <br />CFR 570.503(b)(8).] Disposition of real property or equipment shall be resolved pursuant <br />to City guidelines. <br />Recipient Agency's obligations and responsibilities set forth in this paragraph and <br />in the "Termination" clause and other requirements pertaining to program income shall <br />not be affected by the termination of this Agreement and shall survive the date of <br />termination of this Agreement for such period of time as City and/or HUD deems <br />necessary for the responsibilities, duties and obligations to be performed and completed <br />to the satisfaction of City and HUD. <br />13. Exhibits. All documents referenced as exhibits in this MOU are hereby <br />incorporated in this MOU, including Exhibits A. <br />14. Entire Agreement. This MOU, and all other documents incorporated herein by <br />specific reference, represent the entire and integrated agreement between City and Recipient <br />Agency. This MOU supersedes all prior oral or written negotiations, representations or <br />agreements. This MOU may not be amended, nor any provision or breach hereof waived, <br />except in a writing signed by the parties that expressly refers to this MOU. <br />6 <br />