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<br />A. temporarily withhold cash payments pending correction of the deficiency by the <br />Administrator; <br /> <br />B. disallow all or part of the cost of the activity or action not in compliance; <br /> <br />C. suspend this Contract upon written notification to Administrator of the deficiency and the <br />period within which Administrator must comply; <br /> <br />D. accept Administrator's failure to comply or correct any deficiency within the time period <br />set forth in any written notice of suspension as evidence of Administrator's inability to <br />perform under the terms of this Contract, Administrator's intent to terminate this Contract <br />and Administrator's agreement to surrender all rights to remaining funds; <br /> <br />E. withhold further HOME awards from Administrator; <br /> <br />F. take more severe enforcement action against Administrator by taking any other remedies <br />that may be legally available to Department, as determined by the Department, to assure <br />compliance with the terms of this Contract. <br /> <br />ARTICLE 18 <br />Audit <br /> <br />18.1. Unless otherwise directed by Department, Administrator shall arrange for the performance of an <br />annual financial and compliance audit of funds received and performances rendered under this <br />Contract, subject to the following conditions and limitations: <br /> <br />A. Ad~inistrator shall have an audit conducted in accordance with 24 CFR 92.506, the <br />Single Audit Act of 1984,31 U.S.C. 7501 et. seQ., as Amended by the Single Audit Act <br />Amendments of 1996 (P.L. 104-156), and either OMB Circular No. 128, "Audits of State <br />and Local Governments", 50 Fed. Reg. 19114 (May 6, 1985),24 CFR Part 44, or OMB <br />Circular 133 for any of its fiscal years included within the Contract Period specified in <br />Article 1 of this Contract in which Administrator receives more than $300,000 in Federal <br />financial assistance provided by a Federal agency in the form of grants, contracts, loans, <br />loan guarantees, property, cooperative agreements, interest subsidies, insurance or direct <br />appropriations, but does not include direct federal cash assistance to individuals. The <br />term Federal financial assistance includes awards of financial assistance received directly <br />from Federal agencies, or indirectly through other units of State and local government. <br /> <br />B. At the option of Administrator, each audit required by this section may cover either <br />Administrator's entire operations or each department, agency, or establishment of <br />Administrator which received, expended, or otherwise administered federal funds. <br /> <br />C. Notwithstanding anything to the contrary in Article 3, Sections 3.ID and 3.1E, <br />Administrator may utilize funds budgeted under this Contract to pay for that portion of <br />the cost of such audit services properly allocable to the activities funded by Department <br />under this Contract provided, however, that Department shall not make payment for the <br />cost of such audit services until Department has received the audit report from <br />Administrator. <br /> <br />D. Unless otherwise specifically authorized by Department in writing, Administrator shall <br />submit the report of such audit to Department within thirty (30) days after completion of <br />the audit, but no later than one (1) year after the end of each fiscal period included within <br /> <br />Page 8 of 17 <br />HOME Contract No. 535035 <br />Owner Occupied Assistance <br />