1999-090-TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS HOME PROGRAM HOME BUYER ASSISTANCE CONTRACT 539076

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ARTICLE 5 Uniform Administrative Reauirements. Cost Principles and Program Income 5.1. If Administrator is a governmental entity then Administrator shall comply with the requirements of 24 C.F.R. part 85, the OMS Circulars therein referenced, and 24 C.F.R. part 92 as applicable. Administrator shall maintain records of the receipt, accrual, and disposition of all program income in the same manner as required for all other funds under this Contract. Administrator shall provide reports of program income as requested by Department during the Contract Period and at the termination of this Contract. 5.2. If Administrator is a non-profit organization, Administrator shall comply with requirements of24 C.F.R. part 84, the OMS Circulars therein referenced, and 24 C.F,R. part 92 as applicable. ARTICLE 6 Retention And Accessibilitv Of Records 6.], Administrator must establish and maintain sufficient records, as determined by Department, including but not limited to those listed under 24 C.F.R. part 92, 6.2. Administrator agrees that the Department, the Comptroller of the United States, or any of their duly authorized representatives, shall have the right to access and to examine all books, accounts, records, reports, files, and other papers or property belonging to or in use by Administrator pertaining to this Contract. Administrator agrees to maintain such records at the following address: 135 I" South East Paris, Tx 75461. 6.3. All records pertinent to this Contract shall be retained by Administrator for a period of five years following the date of I-IUD's close-out of the Department's program funding year, with the following exceptions: A. If any litigation, claim, negotiation, audit, monitoring, inspection or other action has started before the expiration of the required record retention period records must be retained until completion of the action and resolution of all issues which arise from it, or until the end of the required period, whichever is later. S. Records covering displacement and acquisitions must be retained for five years after the date by which all persons displaced from the property and all persons whose property is acquired for the project have received the final payment to which they are entitled in accordance with 24 C.F.R. part 92. C. For rental housing projects, records may be retained for five years after the project completion date; except that records of individual tenant income verifications, project rents and project inspections must be retained for the most recent five year period, until five years after the affordability period terminates. D. For homeownership housing projects, records may be retained for five years after the project completion date, except for documents imposing recapture/resale restrictions which must be retained for five years after the affordability period terminates. E. For tenant based rental assistance projects, records must be retained five years after the period of rental assistance terminates. 6.4. Administrator shall include the substance of this Article 6 in all of its subcontracts. .~.t Administrator acknowledges that Department is subject to the Texas Open Records Act and must provide citiiens, public agencies, and other interested parties with reasonable access to all records pertaining to this transaction. Aqministrator agrees to cooperate with Department, as applicable, in this regard. . .~'", 539076 Page 3 of 17