Agmt 2003 Eden Council for Hope and Opportunity ECHO Housing (2)

Home

of operating the facility. All provisions of this contract shall apply to activities funded by program income. All program income shall be expended by Subrecipient before the City is obligated to advance any other CDBG funds to Subrecipient under this agreement. 2.4 Separation of Funds. The Subrecipient shall certify that the Subrecipient's financial system is in accordance with the standards specified in OMB Circular 110, or 24 CFR Part 84. 2.5 Indirect Costs. If indirect costs are charged, the Subrecipient will develop an indirect cost allocation plan for determining the appropriate City of San Leandro share of administrative costs and shall submit such plan to the City of San Leandro for approval. 3.0 PERFORMANCE SCHEDULE 3.1 Schedule of Performance. Subrecipient shall commence, prosecute and complete the project within the time periods established in the "Scope of Work" attached hereto as Exhibit "A" and incorporated herein by this reference. 3.2 Term. Unless earlier terminated in accordance with Section 7.4 of this contract, this contract shall continue in full force and effect until June 30, 2004. 3.3 Reversion of Assets. Upon the expiration or sooner termination of this contract, Subrecipient shall (i) transfer to the City any and all CDBG funds and program income on hand (ii) any accounts receivable attributable to the use of CDBG funds or program income; and (iii) if any CDBG funds or program income was used by Subrecipient to improve or acquire real property and said CDBG funds or program income was in excess of Twenty Five Thousand Dollars ($25,000), Subrecipient shall either (a) use said real property to meet one of the national objectives specified in 24 CFR Section 570.208 for a period of five (5) years after the termination or sooner expiration of this contract or (b) dispose of the real property and reimburse the City in an amount (together with any amounts previously repaid to the City) that is equal to the fair market value of the real property times a fraction, the numerator of which is equal to the amount of CDBG funds and/or other program income used to acquire or improve the property and denominator of which is equal to the fair market value of the real property immediately after the real property was acquired or improved with said funds. 4.0 COORDINATION OF WORK 4.1 Representative of Subrecipient. The Director is hereby designated as being the representative of Subrecipient authorized to act in its behalf with respect to this contract and make all decisions in connection therewith. 7