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A. COOPERATING UNIT further specifically agrees as follows: 1. COOPERATING UNIT will in accord with a COUNTY established schedule prepare and provide to COUNTY, in a prescribed form, an annual request for the use of Community Development Block Grant Funds consistent with this Agreement, program regulations and the Urban Hennepin County Statement of Objectives. 2. COOPERATING UNIT acknowledges that, pursuant to 24 CFR 570.501 (b) , it is subject to the same requirements applicable to subrecipients, including the requirement for a written Sub- recipient Agreement set forth in 24 CFR 570.503. The Sub- recipient Agreement will cover the implementation requirements for each activity funded pursuant to this Agreement and shall be duly executed with and in a form prescribed by COUNTY. 3. COOPERATING UNIT acknowledges that it is subject to the same subrecipient requirements stated in 2. above in instances where an agency other than itself is undertaking an activity pursuant to this Agreement on behalf of COOPERATING UNIT. In such instances a written Third Party Agreement shall be duly executed between the agency and COOPERATING UNIT in a form prescribed by COUNTY. 4. COOPERATING UNIT shall implement all activities funded for each annual program pursuant to this Agreement within eighteen (18) months of the authorization by HUD to expend the basic- grant amount. (a) Funds for all activities not implemented within eighteen (18) months shall be added to the next annual basic grant amount received by COUNTY and allocated according to the procedures set forth in and comply with all conditions of this Agreement. (b) Implementation period extensions may be granted upon request in cases where the authorized activity has been initiated and/or subject of a binding contract to proceed. 5. COOPERATING UNIT shall use funds provided pursuant to Section V. of this Agreement to undertake no more than three (3) grant funded activities administered by the COOPERATING UNIT. Each activity shall have a budget of at least seventy-five hundred dollars ($7,500) , or the total amount of the planning alloca- tion of COOPERATING UNIT if less than seventy-five hundred dollars ($7,500) . A COOPERATING UNIT may assign less than seventy-five hundred dollars ($7,500) to an activity when the activity is one that is programmed by at least one other COOPERATING UNIT and administered by only one COOPERATING UNIT on behalf of the others, provided that the total activity budget is at least seventy-five hundred dollars ($7,500) . 3