Common use of Monitoring and Auditing Clause in Contracts

Monitoring and Auditing. Upon request, or as set forth in the AHP Implementation Plan, the Member shall certify to the Bank that the use of the Subsidy continues to be in compliance with Section 10 of the Federal Home Loan Bank Act and the applicable regulatory requirements (12

Monitoring and Auditing. Upon request, or as set forth in the AHP Implementation Plan, the Member shall certify to the Bank that the use of the Subsidy continues to be in compliance with Section 10 of the Federal Home Loan Bank Act and the applicable regulatory requirements (1212 C.F.R. Part 1291, as amended). The Member expressly authorizes the Bank to audit the Member's Homeownership Initiatives files, including loan and income documentation, retention agreements, accounting record keeping, site inspections, and other household eligibility documentation requested per the Bank's discretion.