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The Authority and Municipality will cooperate in establishing priorities and in preparation of the application for a grant. The Authority will prepare and submit to HUD and - appropriate reviewing agencies, all necessary applications for a basic grant amount under the CDB G Act and the HOME Act. In preparing the grant application and allocating grant funds received, the Authority will consider projects proposed by the Municipality. The Authority reserves the right to propose projects which are both consistent with the mutually established goals, needs and priorities and within its statutory implementation authority. No Municipality shall be required to propose a proj ect. The Authority shall have final responsibility for selecting- projects and will distribute to the Municipality such funds as are determined appropriate for the Municipality to use in W mplementing a proj ect. The Authority may implement projects within the Municipality as are determined appropriate by the Authority. 3. TERM The term of this Agreement is for Federal Fiscal Years 2007 - 2009. The Agreement remains in effect until the CDBG and HOME funds and program income received with respect to activities carried out during the initial three year qualification period, and any successive qualification periods, are expended and the funded activities completed. Neither the Authority nor the Municipality may terminate or withdraw from* this Agreement during that period.. This Agreement will be automatically renewed for participation in successive three year qualification periods, unless the Authority or the Municipality provide written notice it elects not to participate in a new qualification period. By the date specified in HUD's urban. county RESTATED JOINT COOPERATION AGREEMENT Page 3 of 7 19