Common use of Monitoring and Recordkeeping Clause in Contracts

Monitoring and Recordkeeping. The CITY’s Community Development and Planning staff will monitor and evaluate the SUBRECIPIENT’s progress on PROGRAM performance. The SUBRECIPIENT will establish and maintain appropriate documentation to verify stated performance objectives and will submit such documentation to the CITY’s Community Development and Planning staff when requested, which will be at least monthly during the term of this Agreement or more often, if deemed necessary. The SUBRECIPIENT further agrees to on-site monitoring by representatives of the CITY and HUD. The CITY’s Community Development and Planning staff will establish a base line level of monitoring for the SUBRECIPIENT at the beginning of the Agreement. The level of monitoring can be adjusted during the term of this Agreement for reasons such as non-compliance with Agreement provisions, failure to meet performance objectives, failure to submit accurate and timely required monthly reports, findings identified from monitoring, staff turnover in key positions of the SUBRECIPIENT’s organization, and other changes that increase the risk of the CITY in administering the grant funds, in accordance with the CITY’s and HUD’s regulations and policies. It shall be the CITY’s sole determination when, and for what reasons, to adjust the level of monitoring. Additionally, if the SUBRECIPIENT has non-compliance issues during the grant year which increase the risk of administering grant funds, it could result in the SUBRECIPIENT providing monthly unaudited financial statements to the City and/or a letter from an external auditor indicating that the internal controls of the SUBRECIPIENT are adequate for the size and scope of work of the SUBRECIPIENT. The cost of this service will be paid by the CITY. To support CITY’s compliance with federal monitoring requirements, including those set out in 24 C.F.R. § 85.20 and § 85.40, SUBRECIPIENT shall submit to the CITY’s Community Development and Planning staff a copy of an annual independent audit covering the Agreement period, together with any accompanying management letters. If the SUBRECIPIENT’s fiscal year does not correspond to the term of this Agreement, then audits covering the term of this Agreement will be submitted. Any audits provided to the CITY shall be completed by an independent auditor in accordance with generally accepted accounting and auditing standards governing financial and compliance audits, and a copy shall be submitted to CITY within nine (9) months of the end of the SUBRECIPIENT’s fiscal year or within forty-five (45) days of acceptance and review by SUBRECIPIENT, whichever comes first. In the event SUBRECIPIENT is allocated $500,000 or more in a year in Federal awards, SUBRECIPIENT shall comply with U.S. Governmental federal audit requirements, including the requirements contained in OMB Circular A-133. (Exhibit "G") CITY reserves the right to conduct additional financial and compliance audits of the funds received and performances rendered under this Agreement. All SUBRECIPIENT records with respect to any matters covered by this Agreement shall be made available to the CITY, HUD, and the Comptroller General of the United States or any of their authorized representatives, at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Should the CITY deem such additional audits necessary, and any irregularities are discovered during such audit, the SUBRECIPIENT shall reimburse the CITY the expense of such audit. SUBRECIPIENT shall be liable to CITY for any costs disallowed pursuant to financial and compliance audit(s) of grant funds received under this Agreement. Reimbursement to CITY of such disallowed costs shall be paid by SUBRECIPIENT from funds which were not provided or otherwise made available to SUBRECIPIENT under this Agreement. SUBRECIPIENT shall maintain all records required by the Federal regulations specified in 24 CFR 570.506 that are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: Records providing a full description of each activity undertaken; Records demonstrating that each activity undertaken meets one of the National Objectives of the CDBG program; Records required determining the eligibility of activities; Records documenting compliance with the fair housing and equal opportunity components of the CDBG program; Financial records as required by 24 CFR 570.502, and 24 CFR 84.21−28; and Other records necessary to document compliance with Subpart K of 24 CFR Part 570. SUBRECIPIENT shall maintain client data demonstrating client eligibility for services provided. Such data shall include, but not be limited to, client income level or other basis for determining eligibility, and description of service provided. Such information shall be made available to CITY monitors or their designees for review upon request. In addition to the reports and documentation required above, SUBRECIPIENT shall submit to CITY the following reports: 1. SUBRECIPIENT shall submit a monthly Financial Status Report and Performance Report on or before the fifteenth (15th) day of each month of the term of this Agreement; 2. SUBRECIPIENT shall submit a final Financial Status Report to CITY within forty-five (45) days after the end of the term of this Agreement. The failure of SUBRECIPIENT to provide a full accounting of all funds expended under this Agreement within ninety (90) days shall be sufficient reason for CITY to deny or terminate any future contracts with SUBRECIPIENT; and 3. SUBRECIPIENT shall submit a final Performance Report not later than forty-five (45) days after the end of the term of this Agreement. This Agreement and all records above and otherwise pertaining to such Agreement shall be maintained by both SUBRECIPIENT and CITY for a period of five (5) years after final payment is made and all other pending matters are finalized. If SUBRECIPIENT fails to submit, in a timely and satisfactory manner, any report or response required by this Agreement, including responses to monitoring reports, CITY may withhold payments otherwise due to SUBRECIPIENT hereunder. If CITY withholds such payments, it shall notify SUBRECIPIENT in writing of its decision and the reasons therefor. Payments may be withheld by CITY until such time as the delinquent obligations for which funds are withheld are fulfilled by SUBRECIPIENT. If the delinquent report or response is not received within forty-five (45) days of its due date, CITY may suspend or terminate this Agreement and seek repayment of all grant funds provided under this Agreement. If SUBRECIPIENT receives CDBG funds from CITY under two (2) or more Agreements, funds may be withheld or this Agreement suspended or terminated for SUBRECIPIENT's failure to submit a report or response (including a report or audit) past due under a prior grant program Agreement. SUBRECIPIENT’s obligation to the CITY shall not end until all close-out requirements are completed. Activities during this close-out period shall include, but are not limited to: making final payments, submitting final program reports, and disposing of program assets. Not withstanding 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.

Monitoring and Recordkeeping. The CITY’s 's Community Development and Planning staff will monitor and evaluate the SUBRECIPIENTDEVELOPER’s progress on PROGRAM performancePROJECT performance periodically. The SUBRECIPIENT will DEVELOPER shall establish and maintain appropriate documentation to verify stated performance objectives and will shall submit such documentation to the CITY’s 's Community Development and Planning staff when requested, which will shall be at least monthly twice during the term of this Agreement contract period, or more often, often if deemed necessary. The SUBRECIPIENT DEVELOPER further agrees to reasonable on-site monitoring by representatives of the CITY and HUD. The DEVELOPER agrees that CITY’s Community Development , HUD, the Comptroller General of the United States, and Planning staff will establish a base line level any of monitoring their duly authorized representatives shall have access to any books, documents, papers and records of PROJECT, for the SUBRECIPIENT at the beginning purpose of the Agreementmaking audit examinations, excerpts and transcriptions. The level of monitoring can be adjusted during the term of DEVELOPER shall include a provision securing this right in any contract entered into with third parties. This Agreement for reasons and all records pertaining to such as non-compliance with Agreement provisions, failure to meet performance objectives, failure to submit accurate and timely required monthly reports, findings identified from monitoring, staff turnover in key positions of the SUBRECIPIENT’s organization, and other changes that increase the risk of the CITY in administering the grant funds, in accordance with the CITY’s and HUD’s regulations and policies. It shall be maintained by both DEVELOPER and CITY for a period of five (5) years after the CITY’s sole determination when, and for what reasons, to adjust the level of monitoring. Additionally, if the SUBRECIPIENT has non-compliance issues during the grant year which increase the risk of administering grant funds, it could result in the SUBRECIPIENT providing monthly unaudited financial statements to the City and/or a letter from an external auditor indicating that the internal controls of the SUBRECIPIENT are adequate for the size and scope of work of the SUBRECIPIENT. The cost of this service will be paid by the CITYaffordability period expires. To support CITY’s compliance with federal monitoring requirements, including those set out in 24 C.F.R. § 85.20 and § 85.40, SUBRECIPIENT DEVELOPER shall submit to the CITY’s Community Development and Planning staff a copy of an annual independent audit covering the Agreement contract period, together with any accompanying management letters. If the SUBRECIPIENT’s fiscal year does not correspond to the term of this Agreement, then audits covering the term of this Agreement will be submitted. Any audits provided to the CITY Such audit shall be completed by an independent auditor in accordance with generally accepted accounting and auditing standards governing financial and compliance audits, and a copy shall be submitted to CITY within nine (9) months of the end of the SUBRECIPIENTDEVELOPER’s fiscal year or within forty-five (45) days of acceptance and review by SUBRECIPIENTDEVELOPER, whichever comes first. In the event SUBRECIPIENT DEVELOPER is allocated $500,000 or more in a year in Federal awards, SUBRECIPIENT DEVELOPER shall comply with U.S. Governmental federal audit requirements, including the requirements contained in OMB Circular A-133. (Exhibit "G") CITY reserves the right to conduct additional financial and compliance audits of the funds received and performances rendered under this Agreement. All SUBRECIPIENT DEVELOPER agrees to permit CITY or its authorized representative to audit DEVELOPER’s records with respect pertaining to this PROJECT and to obtain any matters covered by documents, materials, or information pertaining to this Agreement shall be made available PROJECT necessary to the CITY, HUD, and the Comptroller General of the United States or any of their authorized representatives, at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Should the CITY deem such additional audits necessary, and any irregularities are discovered during such audit, the SUBRECIPIENT shall reimburse the CITY the expense of facilitate such audit. SUBRECIPIENT DEVELOPER shall be liable to CITY for any costs disallowed (as defined in this Agreement) pursuant to financial and compliance audit(s) of grant funds received under this Agreement. Reimbursement to CITY of such disallowed costs shall be paid by SUBRECIPIENT DEVELOPER from funds which were not provided or otherwise made available to SUBRECIPIENT DEVELOPER under this Agreement. SUBRECIPIENT shall maintain all records required by the Federal regulations specified in 24 CFR 570.506 that are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: Records providing a full description of each activity undertaken; Records demonstrating that each activity undertaken meets one of the National Objectives of the CDBG program; Records required determining the eligibility of activities; Records documenting compliance with the fair housing and equal opportunity components of the CDBG program; Financial records as required by 24 CFR 570.502, and 24 CFR 84.21−28; and Other records necessary to document compliance with Subpart K of 24 CFR Part 570. SUBRECIPIENT shall maintain client data demonstrating client eligibility for services provided. Such data shall include, but not be limited to, client income level or other basis for determining eligibility, and description of service provided. Such information shall be made available to CITY monitors or their designees for review upon request. In addition to the reports and documentation required above, SUBRECIPIENT shall submit to CITY the following reports: 1. SUBRECIPIENT shall submit a monthly Financial Status Report and Performance Report on or before the fifteenth (15th) day of each month of the term of this Agreement; 2. SUBRECIPIENT shall submit a final Financial Status Report to CITY within forty-five (45) days after the end of the term of this Agreement. The failure of SUBRECIPIENT to provide a full accounting of all funds expended under this Agreement within ninety (90) days shall be sufficient reason for CITY to deny or terminate any future contracts with SUBRECIPIENT; and 3. SUBRECIPIENT shall submit a final Performance Report not later than forty-five (45) days after the end of the term of this Agreement. This Agreement and all records above and otherwise pertaining to such Agreement shall be maintained by both SUBRECIPIENT and CITY for a period of five (5) years after final payment is made and all other pending matters are finalized. If SUBRECIPIENT fails to submit, in a timely and satisfactory manner, any report or response required by this Agreement, including responses to monitoring reports, CITY may withhold payments otherwise due to SUBRECIPIENT hereunder. If CITY withholds such payments, it shall notify SUBRECIPIENT in writing of its decision and the reasons therefor. Payments may be withheld by CITY until such time as the delinquent obligations for which funds are withheld are fulfilled by SUBRECIPIENT. If the delinquent report or response is not received within forty-five (45) days of its due date, CITY may suspend or terminate this Agreement and seek repayment of all grant funds provided under this Agreement. If SUBRECIPIENT receives CDBG funds from CITY under two (2) or more Agreements, funds may be withheld or this Agreement suspended or terminated for SUBRECIPIENT's failure to submit a report or response (including a report or audit) past due under a prior grant program Agreement. SUBRECIPIENT’s obligation to the CITY shall not end until all close-out requirements are completed. Activities during this close-out period shall include, but are not limited to: making final payments, submitting final program reports, and disposing of program assets. Not withstanding 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.

Monitoring and Recordkeeping. The CITY’s Community Development Throughout the Affordability Period, Developer shall comply with all applicable recordkeeping and Planning staff will monitor monitoring requirements of the Act and evaluate the SUBRECIPIENT’s progress on PROGRAM performanceHAL and shall annually complete and submit to Authority and Agency a Certification of Continuing Program Compliance in a form provided by Authority and Agency which shall set forth the number of months during which each Housing Unit was occupied in the prior Year, the income levels of all tenants at the Apartment Complex, the rents charged for each Housing Unit, summary of social service programs in operation and/or services provided during the reporting year, and such other information as may be reasonably requested by Authority or Agency. The SUBRECIPIENT will establish and maintain appropriate documentation Representatives of Authority and/or Agency shall be entitled to verify stated performance objectives and will submit such documentation to enter the CITY’s Community Development and Planning staff when requestedSite, which will be upon at least monthly during the term of this Agreement or more oftentwenty-four (24) hours notice, if deemed necessary. The SUBRECIPIENT further agrees to on-site monitoring by representatives of the CITY and HUD. The CITY’s Community Development and Planning staff will establish a base line level of monitoring for the SUBRECIPIENT at the beginning of the Agreement. The level of monitoring can be adjusted during the term of this Agreement for reasons such as non-monitor compliance with Agreement provisions, failure to meet performance objectives, failure to submit accurate and timely required monthly reports, findings identified from monitoring, staff turnover in key positions of the SUBRECIPIENT’s organization, and other changes that increase the risk of the CITY in administering the grant funds, in accordance with the CITY’s and HUD’s regulations and policies. It shall be the CITY’s sole determination when, and for what reasons, to adjust the level of monitoring. Additionally, if the SUBRECIPIENT has non-compliance issues during the grant year which increase the risk of administering grant funds, it could result in the SUBRECIPIENT providing monthly unaudited financial statements to the City and/or a letter from an external auditor indicating that the internal controls of the SUBRECIPIENT are adequate for the size and scope of work of the SUBRECIPIENT. The cost of this service will be paid by the CITY. To support CITY’s compliance with federal monitoring requirements, including those set out in 24 C.F.R. § 85.20 and § 85.40, SUBRECIPIENT shall submit to the CITY’s Community Development and Planning staff a copy of an annual independent audit covering the Agreement period, together with any accompanying management letters. If the SUBRECIPIENT’s fiscal year does not correspond to the term of this Agreement, then audits covering to inspect the term records of this Agreement will be submitted. Any audits provided the Site, and to the CITY shall be completed by conduct an independent auditor audit or inspection of such records. Developer agrees to cooperate with Authority and Agency in accordance with generally accepted accounting making all of its records for the Project and auditing standards governing financial making the Site and compliance audits, and a copy shall be submitted to CITY within nine (9) months of the end of the SUBRECIPIENT’s fiscal year all Housing Units thereon available for inspection or within forty-five (45) days of acceptance and review by SUBRECIPIENT, whichever comes firstaudit. In the event SUBRECIPIENT is allocated $500,000 or more in a year in Federal awards, SUBRECIPIENT shall comply with U.S. Governmental federal audit requirements, including the requirements contained in OMB Circular A-133. (Exhibit "G") CITY reserves the right to conduct additional financial and compliance audits of the funds received and performances rendered under this Agreement. All SUBRECIPIENT records with respect to any matters covered by this Agreement Records shall be made available for review and inspection and/or audit in Orange County, California. Developer agrees to the CITY, HUD, and the Comptroller General of the United States or any of their authorized representatives, at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Should the CITY deem such additional audits necessary, and any irregularities are discovered during such audit, the SUBRECIPIENT shall reimburse the CITY the expense of such audit. SUBRECIPIENT shall be liable to CITY for any costs disallowed pursuant to financial and compliance audit(s) of grant funds received under this Agreement. Reimbursement to CITY of such disallowed costs shall be paid by SUBRECIPIENT from funds which were not provided or otherwise made available to SUBRECIPIENT under this Agreement. SUBRECIPIENT shall maintain all records required by the Federal regulations specified in 24 CFR 570.506 that are pertinent relating to the activities to be funded under this Agreement. Such records shall include but not be limited to: Records providing Project in a full description of each activity undertaken; Records demonstrating that each activity undertaken meets one of the National Objectives of the CDBG program; Records required determining the eligibility of activities; Records documenting compliance with the fair housing and equal opportunity components of the CDBG program; Financial records as required by 24 CFR 570.502businesslike manner, and 24 CFR 84.21−28; and Other to maintain such records necessary to document compliance with Subpart K of 24 CFR Part 570. SUBRECIPIENT shall maintain client data demonstrating client eligibility for services provided. Such data shall include, but not be limited to, client income level or other basis for determining eligibility, and description of service provided. Such information shall be made available to CITY monitors or their designees for review upon request. In addition to the reports and documentation required above, SUBRECIPIENT shall submit to CITY the following reports: 1. SUBRECIPIENT shall submit a monthly Financial Status Report and Performance Report on or before the fifteenth (15th) day of each month of the term of this Agreement; 2. SUBRECIPIENT shall submit a final Financial Status Report to CITY within forty-five (45) days after the end of the term of this Agreement. The failure of SUBRECIPIENT In addition to provide a full accounting of all funds expended under this Agreement within ninety (90) days shall be sufficient reason for CITY to deny or terminate any future contracts with SUBRECIPIENT; and 3. SUBRECIPIENT shall submit a final Performance Report not later than forty-five (45) days after the end of the term of this Agreement. This Agreement and all records above and otherwise pertaining to such Agreement shall be maintained by both SUBRECIPIENT and CITY for a period of five (5) years after final payment is made and all other pending matters are finalized. If SUBRECIPIENT fails to submit, in a timely and satisfactory manner, any report or response required by this Agreement, including responses to monitoring reports, CITY may withhold payments otherwise due to SUBRECIPIENT hereunder. If CITY withholds such payments, it shall notify SUBRECIPIENT in writing of its decision and the reasons therefor. Payments may be withheld by CITY until such time as the delinquent obligations for which funds are withheld are fulfilled by SUBRECIPIENT. If the delinquent report or response is not received within forty-five (45) days of its due date, CITY may suspend or terminate this Agreement and seek repayment of all grant funds provided under this Agreement. If SUBRECIPIENT receives CDBG funds from CITY under two (2) or more Agreements, funds may be withheld or this Agreement suspended or terminated for SUBRECIPIENT's failure to submit a report or response (including a report or audit) past due under a prior grant program Agreement. SUBRECIPIENT’s obligation to the CITY shall not end until all close-out requirements are completed. Activities during this close-out period shall include, but are not limited to: making final payments, submitting final program reports, and disposing of program assets. Not withstanding the foregoing, Developer shall provide, not less than once per year during the terms Affordability Period, certified, audited financial statements for the Project which accurately and fully show the sources and uses of all Project financing, subsidies, and revenues as well as the rents charged for each occupied unit at the Project. Such audited annual financial statements shall conform to generally accepted accounting and auditing principles. During the Extended HAP Payment Period, Developer shall comply with the additional monitoring and recordkeeping obligations of Section 203 above. 417. Regulatory Agreement. Developer shall execute and cause to be recorded against the Site a Regulatory Agreement in substantially the form attached hereto as Attachment No. 9 and fully incorporated herein by this reference. The execution of the Regulatory Agreement shall remain is a Condition Precedent, as set forth in effect during any period that the SUBRECIPIENT has control over CDBG funds, including program incomeSection 204 hereof.

Monitoring and Recordkeeping. The CITY’s Community Development and Planning Office of Strategic Initiatives staff will monitor and evaluate the SUBRECIPIENT’s progress on PROGRAM performance. The SUBRECIPIENT will establish and maintain appropriate documentation to verify stated performance objectives and will submit such documentation to the CITY’s Community Development and Planning Office of Strategic Initiatives staff when requested, which will be at least monthly during the term of this Agreement or more often, if deemed necessary. The SUBRECIPIENT further agrees to on-site monitoring by representatives of the CITY and HUD. The CITY’s Community Development and Planning Office of Strategic Initiatives staff will establish a base line level of monitoring for the SUBRECIPIENT at the beginning of the Agreement. The level of monitoring can be adjusted during the term of this Agreement for reasons such as non-compliance with Agreement provisions, failure to meet performance objectives, failure to submit accurate and timely required monthly reports, findings identified from monitoring, staff turnover in key positions of the SUBRECIPIENT’s organization, and other changes that increase the risk of the CITY in administering the grant funds, in accordance with the CITY’s and HUD’s regulations and policies. It shall be the CITY’s sole determination when, and for what reasons, to adjust the level of monitoring. Additionally, if the SUBRECIPIENT has non-compliance issues during the grant year which increase the risk of administering grant funds, it could result in the SUBRECIPIENT providing monthly unaudited financial statements to the City CITY and/or a letter from an external auditor indicating that the internal controls of the SUBRECIPIENT are adequate for the size and scope of work of the SUBRECIPIENT. The cost of this service will be paid by the CITY. To support CITY’s compliance with federal monitoring requirements, including those set out in 24 2 C.F.R. § 85.20 200.302 and § 85.40200.328, SUBRECIPIENT shall submit to the CITY’s Community Development and Planning Office of Strategic Initiatives staff a copy of an annual independent audit covering the Agreement period, together with any accompanying management letters. If the SUBRECIPIENT’s fiscal year does not correspond to the term of this Agreement, then audits covering the term of this Agreement will be submitted. Any audits provided to the CITY shall be completed by an independent auditor in accordance with generally accepted accounting and auditing standards governing financial and compliance audits, and a copy shall be submitted to CITY within nine (9) months of the end of the SUBRECIPIENT’s fiscal year or within forty-five (45) days of acceptance and review by SUBRECIPIENT, whichever comes first. In the event SUBRECIPIENT is allocated $500,000 750,000 or more in a year in Federal federal awards, SUBRECIPIENT shall be required to complete Exhibit “G” and comply with U.S. Governmental federal audit requirements, including the requirements contained in OMB Circular A-133Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards (also known as the Super Circular) codified at 2 CFR, Part 200 Section C: Subpart F Audit Requirements. (Exhibit "G") CITY reserves the right to conduct additional financial and compliance audits of the funds received and performances rendered under this Agreement. All SUBRECIPIENT records with respect to any matters covered by this Agreement shall be made available to the CITY, HUD, and the Comptroller General of the United States or any of their authorized representatives, at any time during normal business hours, as often as deemed necessary, to audit, examine, and make excerpts or transcripts of all relevant data. Should the CITY deem such additional audits necessary, and any irregularities are discovered during such audit, the SUBRECIPIENT shall reimburse the CITY the expense of such audit. SUBRECIPIENT shall be liable to CITY for any costs disallowed pursuant to financial and compliance audit(s) of grant funds received under this Agreement. Reimbursement to CITY of such disallowed costs shall be paid by SUBRECIPIENT from funds which were not provided or otherwise made available to SUBRECIPIENT under this Agreement. SUBRECIPIENT shall maintain all records required by the Federal federal regulations specified in 24 CFR 570.506 that are pertinent to the activities to be funded under this Agreement. Such records shall include but not be limited to: Records providing a full description of each activity undertaken; Records demonstrating that each activity undertaken meets one of the National Objectives of the CDBG program; Records required determining the eligibility of activities; Records documenting compliance with the fair housing and equal opportunity components of the CDBG program; Financial records as required by 24 CFR 570.502, and 24 2 CFR 84.21−28200.302; and Other records necessary to document compliance with Subpart K of 24 CFR Part 570. SUBRECIPIENT shall maintain client data demonstrating client eligibility for services provided. Such data shall include, but not be limited to, client income level or other basis for determining eligibility, and description of service provided. Such information shall be made available to CITY monitors or their designees for review upon request. In addition to the reports and documentation required above, SUBRECIPIENT shall submit to CITY the following reports: 1. SUBRECIPIENT shall submit a monthly Financial Status Report and Performance Report on or before the fifteenth tenth (15th10th) day of each month of the term of this Agreement; 2. SUBRECIPIENT shall submit a final Financial Status Report to CITY within forty-five (45) days after the end of the term of this Agreement. The failure of SUBRECIPIENT to provide a full accounting of all funds expended under this Agreement within ninety (90) days shall be sufficient reason for CITY to deny or terminate any future contracts with SUBRECIPIENT; and 3. SUBRECIPIENT shall submit a final Performance Report not later than forty-five (45) days after the end of the term of this Agreement. This Agreement and all records above and otherwise pertaining to such Agreement shall be maintained by both SUBRECIPIENT and CITY for a period of five (5) years after final payment is made and all other pending matters are finalized. If SUBRECIPIENT fails to submit, in a timely and satisfactory manner, any report or response required by this Agreement, including responses to monitoring reports, CITY may withhold payments otherwise due to SUBRECIPIENT hereunder. If CITY withholds such payments, it shall notify SUBRECIPIENT in writing of its decision and the reasons therefor. Payments may be withheld by CITY until such time as the delinquent obligations for which funds are withheld are fulfilled by SUBRECIPIENT. If the delinquent report or response is not received within forty-five (45) days of its due date, CITY may suspend or terminate this Agreement and seek repayment of all grant funds provided under this Agreement. If SUBRECIPIENT receives CDBG funds from CITY under two (2) or more Agreements, funds may be withheld withheld, or this Agreement suspended or terminated for SUBRECIPIENT's ’s failure to submit a report or response (including a report or audit) past due under a prior grant program Agreement. SUBRECIPIENT’s obligation to the CITY shall not end until all close-out requirements are completed. Activities during this close-out period shall include, but are not limited to: making final payments, submitting final program reports, and disposing of program assets. Not withstanding 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.