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SEC"~~ON 4L DISBLJRSEMENT OF F1i1NDS <br />A. Administrator may not request disbursement of funds for eligible costs incurred under <br />this contract until the funds are needed for payment of eligible costs in accordance with <br />the requirements of 24 C.F.R. Part 92. Administrator shall submit to Department at its <br />offices in Travis County, Texas, a properly completed electronic request for funds and <br />support documentation as required and as specified by Department. Department shall <br />detez-inine the reasonableness of each amount requested and shall not make disbursement <br />of any such payment until Department has reviewed and approved such request. <br />Adininistrator aQrees to attend Implementation Trairung prior to the disbursement of any <br />funds under this contract and prior to the closing of any loan. <br />B. Department reserves the right to recapture funds provided under this contract and the loan <br />documents in , the event Department determines that Administrator will be unable to <br />eapend all funds awarded within the contract period and development period as defined <br />in the loan documents. Administrator acknowledges that in the event Administrator iS <br />unable to perform in accordance with the Performance Statement and Budget (Exhibit A), <br />interim construction loan documents, Administrator shall temiinate this contract and <br />surrender Administrator's rights to any remaining funds. <br />C. It is expressly understood and agreed by the Parties hereto that any right or remedy <br />provided for in this Section 4, or in any other provision of this contract, shall not preclude <br />the exercise of any other right or-remedy under this contract or under any provision of <br />law. Nor shall any action taken in the exercise of any right or remedy be deemed a <br />waiver of anv. other ri~ht ar remedy___Ezi1-ur_t to PXPre;~~ anTrigh~x ren'ed~~.1ere~d~-- <br />shall not constitute a waiver of the right to exercise that or any other right or remedy at <br />any time. <br />D. For Owner Occupied Housing Assistance and Homebuyer Assistance, no funds may be <br />requested for disbursement if the commitment for funding is not made 90 days prior to <br />the termination date in Section 1 of this Contract. For Tenant Based Rental Assistance no <br />funds may be requested for disbursement if the commitment for funding is not made 180 <br />days prior to ..the termination date in Section 1 of this Contract. In the event that a loan <br />closing is required for single family rehabilitation or reconstruction, non-development <br />activities, no funds may be requested for disbursement if the commitment for funding is <br />not made 180 days prior to the termination date in Section 1 of this Contract. <br />SECTION 5. LTNIFORM ADMINISTRATIVE RE4UIREMENTS, COST <br />PRINCIPLES AND PROGRAM INCOME <br />A. If Administrator is agovenunental entity, Adininistrator shall comply with the <br />requirements of OMB Circular No. A-87; the requirernents of 24 C.F.R. Part 85 as <br />applicable, and the Uniform Grant Management Standards, Chapter 783 Texas <br />Government Code, unless otherwise specified in this contract. <br />B. If Administrator is a non-profit or for-profit oraanization, Administrator shall comply <br />with requirements of OMB Circular No. A-122 and the requirements of 24 C.F.R. Part 84 <br />unless otherwisespecified in this contract. <br />HOMF. Contract 41000930 <br />PaQe 3 of 21 <br />