Laserfiche WebLink
t <br /> provision or to exercise any right under this Agreement shall not be <br /> deemed a relinquishment or waiver of the same. Such consent shall not <br /> constitute a general waiver or relinquishment throughout the entire <br /> term of the Agreement. <br /> C. This Agreement may be cancelled with or without cause by either party <br /> upon thirty (30) days' written notice according to the provisions in <br /> 24 CFR 85.44. <br /> D. CDBG funds allocated to the Subrecipient under this Agreement may not <br /> be obligated or expended by the Subrecipient following such date of <br /> termination. Any funds allocated to the Subrecipient under this <br /> Agreement which remain unobligated or unspent following such date of <br /> termination shall automatically revert to the Recipient. <br /> 10. REVERSION OF ASSETS <br /> Upon expiration or termination of this Agreement, the Subrecipient shall <br /> transfer to the Recipient any CDBG funds on hand or in the accounts <br /> receivable attributable to the use of CDBG funds, including CDBG funds <br /> provided to the Subrecipient in the form of a loan. Any real property <br /> under the control of the Subrecipient that was acquired or improved, in <br /> whole or in part, using CDBG funds in excess of $25,000 shall either ,be: <br /> A. Used to meet one of the national objectives in 24 CFR 570.208 and not <br /> used for the general conduct of government until: <br /> (1) For units of general local government, five years from the date <br /> that the unit of general local government is no'longer considered <br /> by HUD to be a part of Urban Hennepin County; or <br /> (2) For any other Subrecipient, five years after expiration of this <br /> Agreement. <br /> Or, <br /> B. Not used in accordance with A. above, in which event the Subrecipient <br /> shall pay to the Recipient an amount equal to the current market value <br /> of the property less any portion of the value attributable to <br /> expenditures of non-CDBG funds for acquisition of, or improvement to, <br /> the property. The payment is program income to the Recipient. No <br /> payment is required after the period of time specified in A. above. <br /> 11. PROCUREMENT <br /> The Subrecipient shall be responsible for procurement of all supplies, <br /> equipment, services, and construction necessary for implementation of its <br /> activity/ies. Procurement shall be carried out in accordance with the <br /> "Common Rule" Administrative Requirements in 24 CFR 85 and all provisions <br /> of the CDBG Regulations in 24 CFR 570 (the most restrictive of which will <br /> take precedence) . The Subrecipient shall prepare, or cause to be prepared, <br /> all advertisements, negotiations, notices, and documents; enter into all <br /> contracts; and conduct all meetings, conferences, and interviews as <br /> necessary to ensure compliance with the above described procurement <br />