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<br /> Act (775 ILCS 5/1-101 et s�. (1992)); all as they may be subsequently amended
<br /> and supplemented.
<br /> 11. CONFLICTS. The Sponsor shall comply with, and shall cause the Local Program
<br /> to comply with, the prohibitions on conflicts of interest set forth in Sections 92.356(b), (c) and(fl
<br /> of the Regulations, as the same may be modified, amended or supplemented from time to time, and
<br /> with the prohibitions on conflicts of interest otherwise adopted by the HOME Program from time
<br /> to time. Among other things, (i)no person who is an employee, agent, consultant, officer or
<br /> elected or appointed official of the Sponsor may obtain a financial interest or benefit from a
<br /> HOME-assisted activity, or have an interest in any contract, subcontract or agreement with respect
<br /> thereto, or the proceeds thereunder, during their tenure or for one year thereafter, and (ii) in
<br /> addition to, and not in limitation of, clause(i) above, no person who is an employee, agent,
<br /> consultant, officer or elected or appointed official of the Sponsor and who exercises or has
<br /> exercised any functions or responsibilities with respect to activities assisted with HOME funds, or
<br /> who is in a position to participate in a decision-making process or gain inside information with
<br /> regard to such activities, may obtain a fmancial interest or benefit from a HOME-assisted activity,
<br /> or have an interest in any contract, subcontract or agreement with respect thereto, or the proceeds
<br /> thereunder, either for themselves or for those with whom they have family ar business ties, during
<br /> their tenure or for one year thereafter. The Sponsor shall take all reasonable steps to ensure that the
<br /> provisions of this Paragraph 11 are adhered to and observed, including, but not limited to, ,
<br /> requiring that all contracts and subcontracts in connection with any Project contain language �'
<br /> prohibiting such conflicts of interest.
<br /> 12. RECORDS.
<br /> (a) Audits. The plans, specifications, books, contracts, records and documents
<br /> relating to the Program shall at all times be maintained by the Sponsor in reasonable
<br /> condition for proper audit, and shall be subject to examination, inspection and copying by
<br /> the Authority or its agent or representative at any time as the Authority reasonably requires.
<br /> (b) Financial Report. Within one hundred twenty (120) days of preparation,
<br /> the Sponsor shall furnish the Authority with a compliance audit, prepared in accordance
<br /> with the requirements of 24 CFR Part 85, OMB Circular A-133 (Audits of State and Local
<br /> Governments) and OMB Circular A-110, as applicable, and certified to the Authority by
<br /> the Sponsor and an Illinois-licensed certified public accountant.
<br /> (c) Proiect Files. The Sponsor shall maintain files, in a manner acceptable to
<br /> the Authority, for each Homebuyer participating in the Program evidencing that the
<br /> Sponsor has met all requirements of the Program,the Rules and the Regulations.
<br /> (d) Furnishing Information. At the request of the Authority, the Sponsor
<br /> shall furnish such reports, budgets, certifications and other documents required pursuant to
<br /> the Rules and the Regulations, or other applicable Federal or State statutes or requirements,
<br /> and shall give specific answers to questions from the Authority, from time to time, relative
<br /> to the Sponsor's contracts and operations in connection with the Program and the Projects.
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