Contract - Near Northwest Neighborhood - 725 Harrison Ave.

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7. PROGRAM INCOME: Any gross income directly generated from the use of the award funds shall be used only for those activities delineated in the Scope of Services/Program Description and all relevant provisions of this Contract shall apply to such activities. At the end of the program year, the City may require remittance of all or part of any program income balances (including investments thereof) held by the Agency (except for certain exceptions). Disposition of program income, as applicable, is outlined in the Scope of Services/Program Description, Appendix I, and in compliance with 24 CFR 570.504(b) and (c). 8. FISCAL AND ADMINISTRATIVE RESPONSIBILITIES: The Agency agrees to comply with the provisions of 24 CFR 570.502 and its applicable requirements and standards which include but are not limited to the following: A. Allowable and Allocable Costs. Costs must be necessary, reasonable and directly related to the Scope of Services/Program Description of this Contract. In addition, costs must be legal and proper. The Budget included in Appendix 1 shall control amounts of allowable expenditures within budget categories. B. Documentation of Costs. All costs shall be supported by properly executed payrolls, time records, invoices, contracts, or vouchers or other official documentation evidencing in proper detail the nature and propriety of charges. All checks, payrolls, invoices, contracts, vouchers, orders, or other accounting documents pertaining in whole or in part to this Contract shall be clearly identified and readily accessible. C. Restriction on Disbursements. No money under this Contract shall be disbursed by the Agency to any contractor except pursuant to a written contract which incorporates the applicable requirements of this Contract and HUD regulations and unless the contractor is in compliance with HUD requirements for applicable accounting and fiscal matters. D. Records and Reports: 1. Establishment and Maintenance of Records. Records shall be maintained in accordance with requirements prescribed by HUD or the City with respect to all matters covered by this Contract. Except as otherwise authorized by HUD, such records shall be maintained for a period of four (4) years after receipt of final payment under this Contract. 2. Reports. (a) At such times and in such forms as HUD or the City may require, there shall be furnished to HUD or the City such statements, records, data and information as HUD or the City may request pertaining to matters covered by this Contract. (b) The Agency shall submit to the City: (1) periodic progress reports as established in the Scope of Services/Project Description attached as Appendix I, and (2) a report at the conclusion of the project for which funds are provided under this Contract which summarizes the successes or failures of the assisted activity. Additionally, the Agency shall provide statistical data with respect to services provided or persons benefited under this Contract. (3) Non -expendable Property. (i) Invert . The Agency shall keep inventory records, acceptable to the City, on all non -expendable property purchased under this Contract. The Agency shall submit an inventory record of all items at the end of the program year and resubmit it each program year with revisions as necessary. (ii) Insurance and Maintenance. For all non -expendable property purchased under this Contract, the Agency shall maintain sufficient insurance to cover the cost of replacement due to loss by fire, theft, or accidental damage. The Agency shall also be responsible for the maintenance and upkeep of all such property. 3. Cooperation with Agency. The City shall provide all available maps, reports, and other data requested CDBG Program Contract Page 2