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D. COOPERATING UNIT and COUNTY agree to make available all records and <br /> • accounts with respect to matters covered by this Agreement at all <br /> reasonable times to their respective personnel and duly authorized federal <br /> officials. Such records shall be retained as provided by law, but in no <br /> event for a period of less than three years from the last receipt of <br /> program income resulting from activity implementation. COOPERATING UNIT <br /> and COUNTY shall perform all audits as may be required of the basic grant <br /> amount and resulting program income as required under the Act and <br /> Regulations. <br /> E. COOPERATING UNIT shall inform COUNTY of any income generated by the <br /> expenditure of CDBG funds it has received and shall pay to COUNTY all <br /> program income generated except as derived from activities with an <br /> approved revolving account. When program income is generated by an <br /> activity that is only partially assisted with CDBG funds, the income shall <br /> be prorated to reflect the percentage of CDBG funds used. <br /> 1. COUNTY will retain Ten percent (10%) of all program income paid to <br /> COUNTY to defray administration expenses. <br /> 2. The remaining Ninety percent (90%) of the program income paid to <br /> COUNTY shall be credited to the grant authority of COOPERATING UNIT <br /> whose project generated the program income and shall be used for <br /> fundable and eligible CDBG activities consistent with this Agreement. <br /> 3. COOPERATING UNIT and COUNTY are authorized to retain program income <br /> • derived from projects with an approved revolving account provided <br /> such income is used only for eligible activities in accordance with <br /> all CDBG requirements as they may apply. <br /> 4. COOPERATING UNIT shall maintain appropriate records and make reports <br /> to COUNTY as may be needed to enable COUNTY to monitor and report to <br /> HUD on the use of any program income. <br /> 5. Any program income that is on hand or received subsequent to the <br /> closeout or change in status of COOPERATING UNIT shall be paid to <br /> COUNTY. <br /> F. Should an approved activity be determined to represent an ineligible <br /> expenditure of grant funds, the COOPERATING UNIT responsible shall <br /> reimburse the COUNTY for such ineligible expense. <br /> 1. All reimbursements for ineligible expenditures shall be added to the <br /> next annual basic grant amount received by COUNTY and allocated <br /> according to the procedures set forth in and comply with all <br /> conditions of this Agreement unless decreed otherwise by a Federal <br /> regulatory body or by final determination of a court of competent <br /> jurisdiction. <br /> 2. When it is determined by the COUNTY that grant funds have been <br /> expended on an eligible activity and through no fault of the <br /> • COOPERATING UNIT the project fails or is no longer eligible, the <br /> 7 <br />