07-11-2001 Council Agenda - Laserfiche WebLink

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7. FUNDING ALTERNATIVES AND FUTURE SUPPORT A. The AGENCY shall report all Program Income generated under this Agreement or generated through the project(s) funded under this Agreement. In the event the AGENCY receives any Program Income it shall, in the sole discretion of, and at the direction of at the AUTHORITY, either utilize it solely for the purposes set forth in this Agreement or return it to the AUTHORITY. At the end of the program year the AUTHORITY may require remittance of all or part of any program income balances (including investments thereof) held by the AGENCY (except those needed for immediate cash needs, cash balances of a revolving loan fund, cash balances from a lump sum drawdown, or cash or investments held for Section 108 security needs). B. The AUTHORITY makes no commitment to future support and assumes no obligation for future support of the activities contracted for herein, except as expressly set forth in this Agreement. C. Should anticipated sources of revenue not become available to the AUTHORITY for use in the Community Development Block Program, the AUTHORITY shall immediately notify the AGENCY in writing and the AUTHORITY will be released from all contracted liability for that portion of the Agreement covered by funds not received by the AUTHORITY. 8. AMENDMENTS Either party may request modifications in the scope of services, terms, or conditions of this Agreement. Proposed modifications which are mutually agreed upon shall be incorporated by written amendment to this Agreement. A written amendment may affect a project or projects authorized by this Agreement or may be of general application. 9. ASSIGNMENT AND SUBCONTRACTING A. The AGENCY shall not assign any portion of this Agreement without the written consent of the AUTHORITY, and it is further agreed that said consent must be sought by the AGENCY not less than fifteen (15) days prior to the date of any proposed assignment. B. Any work or services assigned or subcontracted hereunder shall be subject to each provision of this Agreement and proper bidding procedures contained therein. The AGENCY agrees that it is as fully responsible to the AUTHORITY for the acts and omissions of its subcontractors and of their employees as agents, as it is for the acts and omissions of its own employees and agents. 10. HOLD HARMLESS AND INDEMNIFICATION A. The AGENCY further agrees that it is financially responsible (liable) for any audit exception which occurs due to its negligence or failure to comply with the terms of Page 10