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<br />affordability period; maximum sales price not to exceed 95% of <br />area median sales prices or $252,700, whichever is less; and <br />requirement for the dwelling to be the primary residence of a low <br />income owner with monthly housing costs of principal, interest, <br />taxes and insurance at no more than 30% of the household's gross <br />income. <br /> <br />7. <br /> <br />ASSIGNMENT AND SUBCONTRACT <br /> <br />Without the written consent of the Agency, the City Council or <br />his/her representative, this Agreement is not assignable in whole or in part. Any <br />assignment by Contractor without the written consent of the Agency or City <br />Councilor his/her representative violates this Agreement and shall automatically <br />terminate this Agreement. <br /> <br />8. <br /> <br />RECORDS <br /> <br />A. <br /> <br />Contractor agrees to provide to Agency, City, to any Federal or <br />State department having monitoring or reviewing authority, to City's <br />authorized representatives and/or their appropriate audit agencies <br />upon reasonable notice, access to and the right to examine and <br />audit all records and documents necessary to determine <br />compliance with relevant Federal, State, and local statutes, rules <br />and regulations, and this Agreement, and to evaluate the quality, <br />appropriateness and timeliness of services performed. <br /> <br />B. <br /> <br />Contractor shall maintain and preserve all records relating to this <br />Agreement in its possession of any third party performing work <br />related to this Agreement for a period of three (3) years from the <br />termination date of this Agreement, or until audit findings, if any, <br />are resolved, whichever is greater. <br /> <br />9. <br /> <br />COMPLIANCE WITH APPLICABLE LAWS <br /> <br />All services to be performed by Contractor pursuant to this Agreement <br />shall be performed in accordance with all applicable Federal, State, City and <br />Municipal laws, ordinances, regulations, including but not limited to appropriate <br />licensure, certification regulations, and provisions pertaining to confidentiality <br />records, and applicable quality assurance regulations. <br /> <br />10. <br /> <br />LEAD-BASED PAINT <br /> <br />The use of lead-based paint is prohibited on residential property. <br /> <br />1:2006 STAFF REPORTS/04-2006/ACTION PLAN ADOPT/Cedar St Acquisition <br /> <br />7 <br /> <br />..,-....... ....-..-.."........ . -....-....-"..-..-..-.-- "'----"".'-'---""-"."-""" <br />