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Subrecipient is a governmental or quasi-governx�ental <br /> agency, the applicable sections of 24 CFR Part 85, <br /> "L��iform Administrative Requirements for Grants and <br /> Ccoperative Agreements to 5�:�.te and Local Governments, "} <br /> f��� all cost incurred whether charges on a direct or in- <br /> c� _�•ect basis . <br /> B. Documentation and Record-Keepinct <br /> 1. Records to be Maintained <br /> The Subrecipient shall maintain all records required by <br /> the federal regulations specified in 24 CFR Part <br /> 570 . 506, and that are pertinent to the activities to be <br /> funded under this Agreement. Such records shall include <br /> but not be limited to: <br /> a. Records providing a full description of each <br /> activity undertaken; <br /> b. Recorc�s demonstrating that each activity <br /> undertaken meets one of the National Objectives <br /> of the CDBG Program; <br /> c. Recoxds required to determine the eligibility <br /> of activities; <br /> d. Records required to document the acquisition, <br /> improti�..ment, use or disposition of real prflperty <br /> acquired or improved with CDBG assistance; <br /> e. Records documenting compliance with the fair <br /> housiag and equal opportunity components of the <br /> CDBG program; . <br /> f . Financial records as required by 24 CFR Part <br /> 570 .502, and OMB Circular A-110; and <br /> g. Other records necessary to comply with Subpart <br /> K of 24 CFR 570 . <br /> 2 . Retention <br /> The Subrecipient shall retain aTl records pertinent to <br /> expenditures incurred under this contract for a period <br /> of three (3 ) years after the termination of all ac- <br /> tivities funded this Agreement, or after the resolution <br /> of all Federal audit findings, whichever occurs later. <br /> Records for non-expendable property acquired with funds <br /> under this contract shall be retained for three (3) <br /> years after final disposition of such property. Records <br /> for any displaced person must be kept for three (3) <br /> years after he/she has received final payment. <br /> 6 <br />