Deobligation. (1) HUD may deobligate amounts: (i) If the amount of the loans pro- vided under the program are less than the amount of the loans anticipated in the application; or (ii) If the recipient fails to carry out activities under the program within a reasonable time after selection; (2) If as a result of an audit, HUD de- termines that the recipient has ex- pended funds for uses that are ineli- gible under this part, HUD may adjust or deobligate funding amounts, as ap- propriate, to recover the ineligible costs.
Appears in 5 contracts
Samples: Grant Agreement, Grant Agreement, Grant Agreement
