R2005-153 AUTHORIZING AGREEMENTS

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City. Failure of NWRAPS to comply with the above accounting requirements, without City approval of a justifiable cause,will constitute a violation of this contract and may result in the withholding of future payments. B. Record-Keeping rdWRAPS shall maintain records on all activities conducted using HOME program funds. Such records shall provide a full description of each activity undertaken, demonstrate project eligibility and approval, all project closeout requirements, financial and payout documentation, and such other information as deemed necessary. Records shall be maintained for at least five years after final project closeout. All records with respect to any matters covered by this agreement shall be made available to the City, grantor agency, their designees or the Federal Government, at any time during normal business hours, as often as the City or grantor agency deems necessary,to audit, examine, and make excerpts or transcripts of all relevant data. IV. PROJECT REQUIREMENTS A. Selection NWRAPS shall use the funds as outlined in the proposal dated AuQust 5, 2005 and the letter dated September 28, 2005; specifically, for eligible costs of construction, soft costs and other eligible items associated with the rehabilitation of the house at 414 South Monroe Street in Decatur, Illinois as a 3-bedroom, owner-occupied, single family home, for resale to an income-eligible household. NWRAPS shall submit documentation to the City for approval of any changes in the use of these funds. B. Approval The City shall submit each project for environmental and historical preservation review as needed. The City shall review each proposal for consistency with program objectives, construction budget estimates, and other elements as deemed necessary. NWRAPS shall not obligate any of the HOME funds budgeted for the project until a written Notice to Proceed is received from the City. C. Completion The project proposal shall include a schedule for completion in a timely manner. The � schedule shall include dates of major construction/rehabilitation milestones and target '� completion date. The City will review the project to determine if the length of time ' proposed for project completion is reasonable and, if not, will reach an acceptable ' agreement with NWRAPS. The City will monitor progress on the project to ensure that �, the schedule is being maintained. Any extensions to the project schedule must be explained to the City in writing. With the exception of delays caused by the City, any project which becomes more than six months I behind the established schedule, without NWRAPS having provided an acceptable written explanation to the City, is considered delinquent. The City will then issue a letter requesting an immediate explanation and/or requesting a meeting to review the project � 3 I