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5. COMPLIANCE WITH APPROVED PROGRAM: All activities authorized by this <br />Agreement shall be performed in accordance with the Act and the Regulation. <br />6. SUBCONTRACTING: The performance covered by this Agreement shall not be <br />subcontracted, assigned or delegated without the prior written consent of the City. <br />7. AWARD: It is expressly understood and agreed that in no event will the City pay the <br />Agency more than $2,000.00 for full and complete satisfactory performance of this Agreement. The <br />City shall compensate the Agency for fulfilling this Agreement as provided in accordance with the <br />terms and conditions contained herein. <br />8. PROGRAM INCOME: It is anticipated that no income shall ever be directly generated <br />from this activity, however, if income is received, the Agency must contact the City on how the funds <br />can be used. <br />9. FISCAL AND ADMINISTRATIVE RESPONSIBILITIES: The Agency agrees to comply <br />with the provisions of 24 CFR 340 and its applicable requirements and standards which include but <br />are not limited to the following: <br />A. Allowable and Allocable Costs. Costs must be necessary, reasonable and directly <br />related to the scope of services of this Agreement. In addition, costs must be legal and proper. <br />The budget included in the attachments shall control amounts of allowable expenditures within <br />budget categories. <br />B. Documentation of Costs. All costs shall be supported by properly executed payrolls, <br />time records, invoices, contracts, or vouchers or other official documentation evidencing in <br />proper detail the nature and propriety of charges. All checks, payrolls, invoices, contracts, <br />vouchers, orders, or other accounting documents pertaining in whole or in part to this <br />Agreement shall be clearly identified and readily accessible. <br />C. Restriction on Disbursements. No money under this Agreement shall be disbursed <br />by the Agency to any contractor except pursuant to a written contract which incorporates the <br />applicable requirements of this Agreement and HUD regulations and unless the contractor is in <br />compliance with HUD requirements for applicable accounting and fiscal matters. <br />D. Records and Reports: <br />1. Establishment and Maintenance of Records. Records shall be maintained in <br />accordance with requirements prescribed by HUD or the City with respect to all matters <br />covered by this Agreement. Except as otherwise authorized by HUD, such records shall <br />be maintained for a period of three (3) years after receipt of final payment under this <br />Agreement. <br />2. Reports. <br />(a) At such times and in such forms as HUD or the City may require, <br />there shall be furnished to HUD or the City such statements, records, data and <br />information as HUD or the City may request pertaining to matters covered by <br />this Agreement. <br />(b) Additionally, the Agency shall submit an Annual Performance <br />2 <br />