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<br />extent the CDBG funds actually have been received from HUD, the City shall pay Subrecipient <br />for all expenses stated on the invoice that are approved by City pursuant to this Agreement no <br />later than the thirtieth day after the invoice is received. <br /> <br />3.5 Method of Payment - General Funds, if applicable. City shall pay <br />Subrecipient an amount not to exceed the total sum noted in Section 3.2 for services to be <br />performed. The City shall make monthly payments for services satisfactorily performed. City <br />shall not pay any additional sum for any expense or cost whatsoever incurred by the <br />Subrecipient in rendering services pursuant to this Agreement. <br /> <br />3.6 Program Income. Any program income, as such term is defined in the <br />regulations, received by Subrecipient shall be retained by Subrecipient. The program income <br />received by Subrecipient shall solely be used for the project or for the purpose of operating <br />the facility. All provisions of this Agreement shall apply to activities funded by program income. <br />All program income shall be expended by Subrecipient before the City is obligated to advance <br />any other CDBG funds to Subrecipient under this agreement. <br /> <br />3.7 Separation of Funds. The Subrecipient shall certify that the Subrecipient's <br />financial system is in accordance with the standards specified in OMB Circular 110, or 24 CFR <br />Part 84. <br /> <br />3.8 Indirect Costs. If indirect costs are charged, the Subrecipient will develop an <br />indirect cost allocation plan for determining the appropriate City of San Leandro share of <br />administrative costs and shall submit such plan to the City of San Leandro for approval. If <br />indirect costs are charged, the indirect cost rate shall be 10% of approved expenses. <br /> <br />4.0 PERFORMANCE SCHEDULE <br /> <br />4.1 Schedule of Performance. Subrecipient shall commence, prosecute and <br />complete the project within the time periods established in the "Scope of Work" attached hereto <br />as Exhibit A and incorporated herein by this reference. <br /> <br />4.2 Reversion of Assets. Upon the expiration or sooner termination of this <br />Agreement, Subrecipient shall (i) transfer to the City any and all CDBG funds and program <br />income on hand (ii) any accounts receivable attributable to the use of CDBG funds or program <br />income; and (iii) if any CDBG funds or program income was used by Subrecipient to improve <br />or acquire real property and said CDBG funds or program income was in excess of Twenty- <br />Five Thousand Dollars ($25,000), Subrecipient shall either (a) use said real property to meet <br />one of the national objectives specified in 24 CFR Section 570.208 for a period of five (5) years <br />after the termination or sooner expiration of this Agreement or (b) dispose of the real property <br />and reimburse the City in an amount (together with any amounts previously repaid to the City) <br />that is equal to the fair market value of the real property times a fraction, the numerator of <br />which is equal to the amount of CDBG funds and/or other program income used to acquire or <br />improve the property and denominator of which is equal to the fair market value of the real <br />property immediately after the real property was acquired or improved with said funds. <br /> <br />5.0 COORDINATION OF WORK <br /> <br />5.1 Representative of Subrecipient. The Executive Director is hereby <br />designated as being the representative of Subrecipient authorized to act in its behalf with <br />respect to this Agreement and make all decisions in connection therewith. <br /> <br />138