Common use of Termination of Disbursements Letter Clause in Contracts

Termination of Disbursements Letter. Within 90 days after completion of all Revitalization Grant funded activities, the Grantee will initiate close-out, in accordance with procedures established by HUD, by submitting a Termination of Disbursements letter, which states that: (1) The Grantee has completed all activities to be performed using HOPE VI Revitalization grant funds. (2) All requirements of the Grant Agreement have been met. (3) All obligated HOPE VI grant funds have been disbursed; (4) The Grantee will abide by any continuing Federal requirements; and (5) The Grantee will complete non-HOPE VI funded activities associated with the revitalization effort and will continue to report in the HOPE VI Quarterly Report until all revitalization activities have been completed. At HUD's option, the Grantee may delay initiation of close-out until the resolution of any HUD monitoring findings. If HUD exercises this option, the Grantee must promptly resolve the findings.

Termination of Disbursements Letter. Within 90 days after completion of all Revitalization Grant funded activities, the Grantee will initiate close-out, in accordance with procedures established by HUD, by submitting a Termination of Disbursements letter, which states that: (1) The Grantee has completed all activities to be performed using HOPE VI Revitalization grant funds.; (2) All requirements of the Grant Agreement have been met.; (3) All obligated HOPE VI grant funds have been disbursed; (4) The Grantee will abide by any continuing Federal requirements; and (5) The Grantee will complete non-HOPE VI funded activities associated with the revitalization effort and will continue to report in the HOPE VI Quarterly Report until all revitalization activities have been completed. At HUD's option, the Grantee may delay initiation of close-out until the resolution of any HUD monitoring findings. If HUD exercises this option, the Grantee must promptly resolve the findings.