Close-outs. The Subrecipient's obligation to the City shall not end until all close-out requirements are completed, notwithstanding any expiration or termination of this Agreement. Activities during this close-out period shall include, but are not limited to: making final payments, disposing of program assets (including the return of all unused materials, equipment, unspent cash advances, program income balances, and accounts receivable to the City), and determining the custodianship of records. Notwithstanding the foregoing, the terms of this Agreement shall remain in effect during any period that the Subrecipient has control over CDBG funds, including program income. In the event that this Agreement is terminated in whole or part for any reason, the following provisions shall apply: a. Upon written request by the Subrecipient, the City shall make or arrange for payment to the Subrecipient of allowable reimbursable costs not covered by previous payments. b. The Subrecipient shall submit within thirty (30) days after the date of expiration of this Agreement all financial, performance and other reports required by this Agreement, and in addition, will cooperate in a program audit by the City of Xxxxxxx or its designee. c. In the event a financial audit has not been performed prior to close-out of this Agreement, the City retains the right to withhold a just and reasonable sum from the final payment to the Subrecipient after fully considering the recommendation on disallowed costs resulting from the final audit.
Appears in 6 contracts
Samples: Community Development Block Grant Agreement, Community Development Block Grant Agreement, Community Development Block Grant Agreement
