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assigned or delegated without the prior written consent of the City, which may be withheld at the sole <br />discretion of the City. <br />6. AWARD: It is expressly understood and agreed that in no event will the City pay the Agency more <br />than $200,000.00 (two hundred thousand dollars) for full and complete satisfactory performance of this <br />Contract. The City shall compensate the Agency for fulfilling this Contract as provided in accordance <br />with the terms and conditions contained herein. <br />7. PROGRAM INCOME: Any gross income directly generated from the use of the award fiends shall <br />be used only for those activities delineated in the Scope of Services/Program Description and all <br />relevant provisions of this Contract shall apply to such activities. At the end of the program year, the <br />City may require remittance of all or part of any program income balances (including investments <br />thereof) held by the Agency (except for certain exceptions). Disposition of program income, as <br />applicable, is outlined in the Scope of Services/Program Description attached as Appendix I, and in <br />compliance with 24 CFR 570.504(b) and (c). <br />8. FISCAL AND ADMINISTRATIVE RESPONSIBILITIES: The Agency agrees to comply with the <br />provisions of 24 CItR 570.502 and its applicable requirements and standards which include but are not <br />limited to the following: <br />A. Allowable and Allocable Costs. Costs must be necessary, reasonable and directly related to the <br />Scope of Services / Project Description of this Contract. In addition, costs must be legal and proper. <br />The Budget included in Appendix I shall control amounts of allowable expenditures within budget <br />categories. <br />B. Documentation of Costs. All costs shall be supported by properly executed payrolls, time records, <br />invoices, contracts, or vouchers or other official documentation evidencing in proper detail the <br />nature and propriety of charges. All checks, payrolls, invoices, contracts, vouchers, orders, or other <br />accounting documents pertaining in whole or in part to this Contract shall be clearly identified and <br />readily accessible. <br />C. Restriction on Disbursements. No money under this Contract shall be disbursed by the Agency to <br />any contractor except pursuant to a written contract which incorporates the applicable requirements <br />of this Contract and HUD regulations and unless the contractor is in compliance with HUD <br />requirements for applicable accounting and fiscal matters. <br />D. Records and Reports: <br />I . Establishment and Maintenance of Records. <br />Records shall be maintained in accordance with requirements prescribed by HUD or the City <br />with respect to all matters covered by this Contract. Except as otherwise authorized by HUD, <br />such records shall be maintained for a period of four (4) years after receipt of final payment <br />under this Contract. <br />Res. <br />(a) At such times and in such forms as HUD or the City may require, there shall be furnished <br />to HUD or the City such statements, records, data and information as HUD or the City may <br />request pertaining to matters covered by this Contract. <br />(b) The Agency shall submit to the City: <br />(1) periodic progress reports as established in the Scope of Services/Project Description <br />attached as Appendix 1, and <br />(2) a report at the conclusion of the project for which fiends are provided under this <br />CDBG Program Contract Page 2 <br />