14-Reservation system participant to the Texas Dept of Housing

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E. All approved HOME audit reports shall be made available for public inspection within thirty (30) days after completion of the audit. F. The RSP shall include language in any subcontract that provides the Department the ability to directly review, monitor, and/or audit the operational and financial performance and/or records of work performed under this Contract. Section 8.2 Uniform Administrative Requirements, Cost Principles, and Program Income A. If RSP is a governmental entity, RSP shall comply with the requirements of OMB Circular No. A-87; the requirements of 24 C.F.R. Part 85 as applicable, and the Uniform Grant Management Standards, Chapter 783 Texas Government Code, unless otherwise specified in this Contract. B. If RSP is a non-profit or for-profit organization, RSP shall comply with reyuirements of OMB Circular No. A-122 and the requirements of 24 C.F.R. Part 84 unless otherwise specified in this Contract. C. RSP may not retain program income of any kind, however derived, under this Contract, including the retention of program income to fund other eligible HOME activities. RSP shall comply with the reyuirements of 24 C.F.R. §92.503 to account for program income, repayments, and recaptured funds related to activities financed in whole or in part with funds provided under this Contract. RSP shall provide reports of program income as reyuested by Department. Program income derived under this Contract must be submitted to Department within ten (10) days of receipt. In any event, program income received from a prior HOME Contract must be disbursed before RSP requests additional funds from Department and the amount of requested funds should be reduced by the program income used and noted in the request. D. If RSP is a corporation, RSP shall maintain director or officer liability insurance coverage in an amount, not less than $1,000,000 that is sufficient to protect the interests of Department in the event an actionable act or omission by a director or officer of RSP damages the Department's interests. RSP shall provide Department with certificates of insurance evidencing RSP's current and effective insurance coverage. RSP agrees to notify the Department immediately upon receipt of notification of the termination, cancellation, expiration, or modification of any required insurance coverage or policy endorsements. RSP agrees to suspend the performance of all work performed under this Contract until the RSP satisfies the required coverage requirements, obtains the required policy endorsements and delivers to Department certificates of insurance evidencing that such coverage and policy endorsements are current and effective, and receives notification from Department that the performance of work under this Contract may recommence. 15 of 25 Zoio-oois 80