Agmt16 CDBG HIP Housing Development Corporation HHDC

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Project will conform to the highest standards providing for projects of similar or like nature in the San Francisco Bay Area. Contractor will be responsible for, and hold City harmless from, any failure to adhere to such standards. Contractor will verify that all activities funded hereunder benefit only residents within City's corporate limits. 6. QUARTERLY REPORTS . Contractor will submit quarterly progress reports to the City describing the activities funded under this Agreement to document Contractor's success in meeting the Project objectives referenced in this Agreement. The reports will be submitted quarterly by the 15th day of the month electronically to the website specified by City's CDBG/HOME Program . The final report will be submitted no later than May 1 , 2017. If Contractor fails to submit such quarterly reports on a timely basis, City may withhold payment of funds hereunder until all such delinquent reports have been submitted . The reports will include the total number of direct beneficiaries of the Project with demographic information regarding income, household composition , ethnicity, age and other data as required by City or HUD . 7. FINANCIAL STATEMENT/ANALYSIS ; INDEPENDENT AUDIT. Contractor will make available to City, or the public, upon request, a financial statement and analysis (the "Accounting") setting forth in detail the manner in which , and the specific purposes for which , the funds paid by Contractor pursuant to this Agreement were expended to the date of such Accounting. In addition to the foregoing, Contractor will submit to City no later than the end of the Fiscal Year, and upon reasonable written request by the CDBG/HOME Administrator, a copy of the Contractor's Financial Statement and/or Accounting . The Accounting will be submitted with the final report referred to in Paragraph 6. REV: 06-28-16 VR Page 4 of 37 ATTY/AGR.2016. 169/HHDC Pine-Middlefield Rehabilitation