Cdbg Written Agreements

(a) Before paying cdBG funds to a sub-recipient, the recipient signs a written agreement with the subcontractor. The agreement remains in effect for a period during which the sub-receiver controls CDBG funds, including program revenues. b) the written agreement with the sub-receiver contains at least provisions for: (1) the work account. The agreement contains a description of the work to be carried out, a timetable for the completion of the work and a budget. These points must be sufficiently detailed to provide a solid basis for effective monitoring of performance under the agreement. (6) Suspension and termination of proceedings. The agreement contains corrective measures for non-compliance and termination provisions pursuant to the second part 200 CFR, Sub-Part D. (ii) Not used in accordance with point b) (7) of this section, in the event that the sub-receiver pays the recipient an amount equal to the current market value of the property minus a portion of the value of the unassed fund expenses for the acquisition or improvement of the property. Payment is the program`s recipe for the recipient. (At the expiration of the procedure referred to in point b) (7) (i) no payment is required.) (i) to achieve one of the national objectives under Section 570.208 (p. 570.901) up to five years after the expiry of the contract or for a period deemed appropriate by the beneficiary; or (2) records and reports. The recipient establishes in the agreement the specific registrations that the recipient must keep, as well as the reports that the subcontractor must submit to help the recipient meet its registration and reporting obligations.

(3) Program revenue. The agreement contains the revenue requirements of the program in accordance with this agreement. 570.504 (c). The agreement also provides that by the end of the year of the programme, the recipient may require the transfer of all or part of any program balance held by the sub-recipient (including your investments) (excluding immediate cash amounts, cash amounts from a revolving loan fund, cash holdings from a lump sum or cash, or investments held for security purposes under Section 108). (i) the sub-receiver does not assume the environmental responsibility of the beneficiary described in section 570.604; and (7) asset reversals. The contract stipulates that, at the end of the contract, the sub-recipient pays the recipient all the cdBG funds available at the time of expiry and all receivables attributable to the use of the cdBG funds. It also contains provisions to ensure that real estate under the control of the subcontractor that has been acquired or improved in whole or in part with cdBG funds (including CDBG funds made available to the subcontractor in the form of a loan) exceed US$25,000: (4) Uniform requirements. The agreement requires the subcontractor to comply with the uniform requirements in force in accordance with the provisions of Section 570.502 (ii) The sub-receiver does not assume the responsibility of the recipient for the launch of the verification procedure in accordance with the provisions of 24 CFR, Part 52. (5) Other program requirements. The contract requires the subcontractor to perform each activity in accordance with all federal laws and regulations described in Point K of these regulations, with the exception of:

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