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SECTION 4. DISBURSENIENT OF FUNDS A. Administrator may not request disburseitient of funds for eligible costs incurred under this contract until the funds are needed for payment of eligible costs in accordance with the requirements of 24 C.F.R. Part 92. Administrator shall submit to Department at its offices in Travis County, Texas, a properly completed electronic request for funds and support documentation as required and as specified by Department. Department shall determine the reasonableness of each amount requested and shall not make disbursement of any such payment until Department has reviewed and approved such request. Administrator agrees to attend Implementation Training prior to the disbursement of any funds under this contract and prior to the closing of any ]oan. B. Department reserves the right to recapture funds provided under this contract and the loall documents in the event Department determines that Administrator wil] be unable to expend all funds awarded within the contract period and development period as defined in the loan documents. Administrator acknowledges that in the event Administrator is unable to perform in accordance with the Performance Statement and Budget (Exhibit A), interim construction loan documents, Administrator shall terminate this contract and surrender Administrator's rights to any remaining funds. C. It is expressly understood and agreed by the Parties hereto that any right or remedy provided for in this Section 4, or in any other provision of this contract, shall not preelude the exercise of any other right or remedy under this contract or under any provision of law. Nor shall any action taken in the exercise of any right or remedy be deemed a waiver of any other right or remedy. Failure to exercise any right or remedy hereunder shall not constitute a waiver of the right to exercise that or any other right or remedy at any time. D. For Homebuyer Assistance Acquisition Only, no funds may be requested for disbursement if the commitment for funding is not made 60 days prior to the termination date in Section 1 of this Contract. For Tenant Based Rental Assistance no funds may be requested for disbursement if the commitment for funding is not made 180 days prior to the termination date in Section 1 of this Contract. Due to closing requirements for Owner Occupied Housing Assistance and Homebuyer Assistance with rehabilitation/reconstruction/new construction, no fimds may be requested for disbursement if the commitment for funding is not made 240 days, prior to the termination date in Section 1 of this Contract or if the loan closing does not occurs 180 days prior thereto. SECTION 5. UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES AND PROGRAM INCOME A. If Administrator is a governmental entity, Administrator shall comply with the requirements of OMB Circular No. A-87; the requirements of 24 C.F.R. Part 85 as applicable, and the Uniforni Grant Management Standards, Chapter 783 Texas Government Code, unless otherwise specified in this contract. HOME Contract # 1001053 Page 3 of 21 ~ rl~ to 1 4