R2012-129 AUTHORIZING SUBRECIPIENT AGREEMENT

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H. Suspension or Termination In accordance with 24 CFR 85.43, the Grantee may suspend or terminate this Agreement if the Subrecipient materially fails to comply with any terms of this Agreement, which include (but are not limited to) the following: 1. Failure to comply with any of the rules, regulations or provisions referred to herein, or such statutes, regulations, executive orders, and HUD guidelines, policies or directives as may become applicable at any time; 2. Failure, for any reason, of the Subrecipient to fulfill in a timely and proper manner its obligations under this Agreement; 3. Ineffective or improper use of funds provided under this Agreement; or 4. Submission by the Subrecipient to the Grantee reports that are incorrect or incomplete in any material respect. In accordance with 24 CFR 85.44, this Agreement may also be terminated for convenience by either the Grantee or the Subrecipient, in whole or in part, by setting forth the reasons for such termination, the effective date, and, in the case of partial termination, the portion to be terminated. However, if in the case of a partial termination, the Grantee determines that the remaining portion of the award will not accomplish the purpose for which the award was made, the Grantee may terminate the award in its entirety. VIII. ADMINISTRATIVE REQUIREMENTS Uniform administrative requirements. The agreement shall require the subrecipient to comply with applicable uniform administrative requirements, as described in §570.503. A. Financial Management 1. Accounting Standards The Subrecipient agrees to comply with Subpart C.21, Standards for financial management systems, of OMB Circular A-110 and agrees to adhere to the accounting principles and procedures required therein, utilize adequate internal controls, and maintain necessary source documentation for all costs incurred. 2. Cost Principles The Subrecipient shall administer its program in conformance with OMB Circulars A-122, "Cost Principles for Nonprofit Organizations," or A-21 "Cost Principles for Educational Institutions,: as applicable; {and if the Subrecipient is a governmental or quasi-governmental agency, the applicable sections of 24 CFR 570.503 (b)(4), "Uniform Administrative Requirements for Grants and Cooperative Agreements to State and Local Governments,") for all cost incurred whether charges on a direct or indirect basis. Subrecipient Agreement(Rev. June 2012) Page 6 of 19