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<br />C. Notwithstanding the provisions of Section 5 (A) of this contract, it is expressly understood and <br />agreed by the parties hereto that payments under this contract are contingent upon Contractor's full <br />and satisfactory performance of its obligations under this contract. <br /> <br />D. It is expressly understood and agreed by the parties hereto that any right or remedy provided for in <br />this Section 5 or in any other provision of this contract shall not preclude the exercise of any other <br />right or remedy under this contract or under any provision of law, nor shall any action taken in the <br />exercise of any right or remedy be deemed a waiver of any other rights or remedies. Failure to <br />exercise any right or remedy hereunder shall not constitute a waiver of the right to exercise that or any <br />other right or remedy at any time. <br /> <br />SECTION 6. <br /> <br />UNIFORM ADMINISTRATIVE REQUIREMENTS. COST <br />PRINCIPLES. AND PROGRAM INCOME <br /> <br />A. Except as specifically modified by law or the provisions of this contract, Contractor shall comply <br />with the Regulations and, for matters not addressed therein, with 24 C.F.R. Part 85, "Administrative <br />Requirements for Grants and Cooperative Agreements to State, local and Federally Recognized <br />Indian Tribal Governments" (hereinafter referred to as the "Common Rule") as modified by the rules <br />promulgated by the Office of the Governor under the Uniform Grant and Contract Management Act <br />(TEX. GOV'T. CODE ANN. Chapter 783; hereinafter referred to as "UGCMS."), in performing this <br />contract. The allowability of costs incurred for performances rendered hereunder shall be determined <br />in accordance with OMB Circular A-87, as supplemented by UGCMS and this contract. <br /> <br />B. Contractor shall comply with the requirements set forth in Section 570.489(e) of the Regulations to <br />account for program income related to activities financed in whole or in part with funds provided under <br />this contract. <br /> <br />1. Contractor shall maintain records of the receipt, accrual, and disposition of all program income <br />in the same manner as required for all other funds under this contract, and Contractor shall <br />provide reports of program income to Department with each form submitted by Contractor in <br />accordance with Section 5 of this contract, and at the termination of this contract. <br /> <br />2. Program income earned by Contractor during the period of this contract shall be retained by <br />Contractor and utilized by Contractor to fund performances specified in this contract, in the <br />manner specified hereunder, prior to requesting additional funds from Department. <br /> <br />3. At least sixty (60) days prior to the termination of this contract, Contractor shall submit a plan <br />to Department for its approval which specifies the manner in which Contractor proposes to use <br />any unexpended program income earned under this contract to continue the performance <br />specified in this contract in the manner specified hereunder. Any program income earned by the <br />Contractor from this contract, prior to the establishment and approval of a Revolving loan Fund <br />plan by Contractor must be returned to Department. In the event Department does not approve <br />the plan submitted by Contractor, Contractor shall return such program income to Department <br />within thirty (30) working days after receipt of Department's notification of disapproval. <br /> <br />SECTION 7. <br /> <br />RETENTION AND ACCESSIBILITY OF RECORDS <br /> <br />A. Contractor shall maintain fiscal records and supporting documentation for all expenditures of funds <br />made under this contract in a manner which conforms to OMB Circular A-87, Section 570.490 of the <br />Regulations, and this contract. Such records must include data on the racial, ethnic, and gender <br />characteristics of persons who are applicants for, participants in, or beneficiaries of the funds provided <br />under this contract. Contractor shall retain such records, and any supporting documentation, for the <br />greater of three years from closeout of this contract or the period required by other applicable laws <br />and regulations as described in the Regulations. <br /> <br />Page 3 of 12 <br />