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<br />Disbursement is condi.,oned upon the submission of sat,_,actory information <br />by Contractor about the project and compliance with other procedures <br />specified by HUD. HUD will disburse rental rehabilitation funds obligated by <br />Department under this contract by electronic funds transfer to the depository <br />institution designated by Contractor. Amounts requested by Contractor will <br />be disbursed by HUD as closely as possible to the time they are needed by the <br />Owner to pay eligible rehabilitation costs and such amount shall immediately <br />be disbursed by Contractor and Owner in payment for eligible costs. <br />Contractor shall establish a rental rehabilitation deposit account at <br />designated depository bank and shall not commingle any private or publiC <br />funds, whether or not such funds are to be used to supplement Rental <br />Rehabilitation Program funds, in the same account. Contractor expressly <br />understands and agrees that Department shall not be liable for any damages, <br />claims, or demands which may be asserted as a result of any action, or <br />failure to act, by HUD in discharge of its responsibility under the CIMI <br />system. <br /> <br />B. Administrative Funds: Contractor shall submit a request for <br />reimbursement on a form specified by Department, no more frequently than <br />bi-weekly for costs incurred in administering this contract. <br /> <br />C. Notwithstanding the provisions of Section 5{A) ~f this contract, it is <br />expressly understood and agreed by the parties hereto that payments under <br />this contract are contingent upon Contractor's full and satisfactory <br />performance of its obligations under this contract and that Department may, <br />at its sole option and in its sole discretion, withdraw and reallocate rental <br />rehabil itation funds- provided-.under this contract based.on Contractor's. <br />noncompliance with the terms of this contract, applicable laws or regulations <br />including recipient's failure to meet the schedule for committing rental <br />rehabilitation amounts as set forth in Exhibit 0 of this contract. <br /> <br />D. It is expressly understood and agreed by the parties hereto that any <br />right or remedy provided for in this Section 5 or in any other provision of <br />this contract shall not preclude the exercise of any other right or remedy <br />under this contract or under any provisions of law, nor shall any action <br />taken in the exercise of any right or remedy be deemed a waiver of any other <br />rights or remedies. Failure to exercise any right or remedy hereunder shall <br />not constitute a waiver of the right to exercise that or any other right or <br />remedy at any time. <br /> <br />UNIFORM ADMINISTRATIVE REQUIREMENTSt COST <br />PRINCIPLES, AND ALLOWABILITY OF COS S <br /> <br />A. Contractor shall comply with Office of Management and Budget (OMB) <br />Circular A-102 as supplemented by the rules promulgated.by the Office of the <br />Governor at 7 Tex. Reg. 3172 under the Uniform Grant and Contract Management <br />Act of 1981 {TEX.REV.CIV.STAT.ANN.art.4413 (32g).), hereinafter referred to <br />as the Management Standards, except to the extent that Department establishes <br />variations from the Management Standards in accordance with Section 6 of such <br />Act. <br /> <br />SECTION 6. <br /> <br />B. Except for administrative costs, the allowability of costs incurred for <br />performances rendered hereunder shall be determined in accordance with OMB <br />Circular A-122, subject to the following limitations: <br /> <br />PAGE 3 OF 11 <br />