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<br />event of sale prior to the completion of the required affordability <br />period. <br /> <br />Maximum CDBG and HOME subsidy per unit shall not exceed limit <br />established for a three bedroom unit for Section 221 (d)(3) for a three <br />bedroom unit. For HOME eligibility, the dwelling to be used for <br />transitional housing and supportive services to very low income <br />individuals receiving residential and supportive services shall be <br />classified as a Group Home. The maximum monthly housing costs <br />that can be charged by Contractor can be no more than 30% of the <br />individual client's gross income and are based on the appropriate <br />Section 8 Existing Fair Market Rent (FMR) for the unit size. <br /> <br />7. ASSIGNMENT AND SUBCONTRACT <br /> <br />A. Without the written consent of the City Councilor its representative, <br />this Agreement is not assignable in whole or in part. Any assignment by <br />Contractor without the written consent of the City Councilor his/her <br />representative violates this Agreement and shall automatically terminate <br />this Agreement. <br /> <br />B. The public financing provided herein shall be used solely for the <br />purpose of providing services to very low income individuals in the City of <br />Redwood City and to provide a permanent public facility where services can <br />be provided. The project underwriting of this Grant has been accomplished <br />to allow Contractor to leverage other public and private financing for <br />acquisition to enhance the long term sustainability of the public investment. <br />Contractor shall not further encumber, subordinate, sale nor transfer title, <br />nor take any other actions which would jeopardize the economic <br />sustainability and affordability of the property being acquired, nor abandon <br />the services needed by the project beneficiaries, special needs populations, <br />without the written consent of the City Councilor its representative violates <br />this Agreement and shall automatically terminate this Agreement. <br /> <br />8. RECORDS <br /> <br />A. Contractor agrees to provide to City, to any Federal or State <br />department having monitoring or reviewing authority, to City's authorized <br />representatives and/or their appropriate audit agencies upon reasonable <br />notice, access to, and the right to examine and audit all, records and <br />documents necessary to determine compliance with relevant Federal, <br />State, and local statutes, rules and regulations, and this Agreement, and to <br />evaluate the quality, appropriateness and timeliness of services performed. <br /> <br />B. Contractor shall maintain and preserve all records relating to this <br />Agreement in its possession of any third party performing work related to <br /> <br />A TTY/AGR/2008.072 <br />081308 <br /> <br />7 <br />