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must be retained until completion of the action and resolution of all issues which <br />arise from it, or until the end of the required period, whichever is later. <br />2. Records covering displacement and acquisitions must be retained for five (5) <br />years after the date by which all persons displaced from the property and all <br />persons whose property is acquired for the project have received the final <br />payment to which they are entitied in accordance with 24 C.F.R. Part 92. <br />3. For rental housing developments, records must be retained for five (5) years after <br />the project completion date; except that records of individual tenant income <br />verifications, project rents and project inspections must be retained for the most <br />recent five (5) year period, until five (5) years after the affordability period <br />terminates. <br />D. Administrator acknowledges that Department is subject to the Texas Public Information <br />Act and Administratar agrees that funds received from the Department are subject to the <br />Texas Public Information Act and the exceptions to disclosure as provided under the <br />Texas Public Infornlation Act. <br />E. Administrator shall include the substance of this Section 6 in aIl of its slibcontracts. <br />SECTION 7. REPORTING REOUIREMENTS <br />A. Administrator shall submit to Department such reports on the operation and performance <br />of this contract as may be required by Department, including but not limited to the reports <br />specified in this section. Administrator shall provide Department with all reports <br />necessary for Department's compliance with 24 C.F.R. Part 92. <br />B. In addition to the limitations on liability otherwise specified in this contract, it is <br />expressly understood and agreed by the Parties hereto that if Administrator fails to submit <br />to Department in a timely and satisfactory manner any report required by this contract or <br />the HOME Manual, Department may, at its sole option and in its sole discretion, <br />withhold any or all disbursements otherwise due or requested by Administrator <br />hereunder. If Department withholds such disbursements, it shall notify Administrator in <br />writing of ifs decision, the reasons for this action and the time period in which <br />Administrator must bring itself into compliance. Disbursements withheld pursuant to this <br />paragraph may be held by Department until such time as the Administrator is in <br />compliance with the requirements for which funds are being withheld. If Administrator <br />fails to perform as required within the stated cure period, Department may terminate this <br />contract and Administrator hereby agrees and acknowledges that upon termination, <br />Administrator's rights to any fiinds shall be terminated. <br />C. In addition to other reports, the Administrator shall provide reports to Deparhment <br />regarding program activities to evidence progress of performance in accordance with the <br />requirements of the Act, 2009 HOME Rules and contained in the Performance Statement <br />and Budget (Exhibit A). <br />HOME Contract #1001224 <br />Page 5 of 21 <br />