Common use of Repayment of Funds Clause in Contracts

Repayment of Funds. In the event that RISE, DHCD or HUD determines that any funds were expended by the Awardee for unauthorized or ineligible purposes or the expenditures constitute disallowed costs in any other way, RISE, DHCD or HUD may order repayment of the same. The Awardee shall remit the disallowed amount to RISE within thirty (30) days of written notice of the disallowance. A. The Awardee agrees that funds determined by RISE to be surplus upon completion of the Agreement will be subject to cancellation by RISE. B. The Awardee agrees that upon expiration of this Agreement, the Awardee shall transfer to RISE any CDBG-NDR funds on hand at the time of the expiration and any accounts receivable attributable to the use of CDBG-NDR funds. C. RISE shall be relieved of any obligation for payments if funds allocated to RISE cease to be available for any cause other than misfeasance of RISE itself. D. RISE reserves the right to withhold payments pending timely delivery of program reports or documents as may be required under this agreement. E. Awardee acknowledges that all “Program Income,” as that term is defined in 24 CFR 570.500, received by Awardee shall be immediately remitted to RISE, and that Awardee shall have no right to retain Program Income without the written consent of RISE.