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4. In accordance with 24 CFR 92.254, Post 2016 Program Income will be <br /> collected on a cumulative basis for each July 1 to June 30 program year <br /> during the duration of the contract. At the end of each program year, the <br /> program income collected during that year will be allocated in the County's <br /> action plan for the following year. Post 2016 Program Income shall not be <br /> available for immediate use upon receipt; it must first be reported on a <br /> cumulative basis during the program year, included in the following year's <br /> action plan, and included in a HOME Agreement between the County and <br /> the Agency prior to use. Post 2016 Program Income shall only be used <br /> for HOME-eligible activities and must be used in full accord with the Act, <br /> and all rules and regulations promulgated pursuant to the Act and the <br /> HOME Regulations. <br /> 5. The Agency shall submit the HOME Monthly Program Income Report, in <br /> the form of Exhibit H of program income receipts to and disbursements <br /> from the Contractor account. A separate HOME Monthly Income Report <br /> shall be submitted for 2016 Program Income and Post 2016 Program <br /> Income. <br /> 6. Upon termination or expiration of this Agreement, as provided in <br /> Section I-F of Exhibit A-1 hereof or the Basic Terms and Conditions <br /> Agreement, the Agency shall remit to the County the balance of Program <br /> Income on hand, and assign and convey to the County title to all Program <br /> Income receivables. Thereafter the Agency shall remit to the County any <br /> Program Income amounts received for so long as the County continues to <br /> be a Participating Jurisdiction (as defined at 24 CFR Part 92) in the HOME <br /> Program. <br /> 7. If the County ceases to be a Participating Jurisdiction before the end of <br /> the term of this Agreement, the Agency shall at that time remit to the <br /> County any on-hand Program Income comprised of HOME funds which <br /> were repaid during the term of this Agreement. The County in turn shall <br /> remit such funds to HUD. Thereafter, all future Program Income from <br /> repaid HOME funds made during the term of this Agreement shall be <br /> immediately remitted to the County, in perpetuity, and the County shall <br /> remit such funds to HUD. <br /> V. RECORDS AND REPORTS <br /> The Agency agrees to maintain the following records and submit the following <br /> reports in order to assist the County in meeting its recordkeeping and reporting <br /> requirements: <br /> Exhibit A-1 <br /> H CS-17-42-1701-198(1) <br /> City of Everett <br /> Page 18 of 24 <br />