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2. Cost Principles: The Subrecipient shall administer its program in conformance with 2 <br />CFR 200 Uniform Administrative Requirements as applicable. These principles shall be <br />applied for all costs incurred whether charged on a direct or indirect basis. <br />B. Documentation and Record-Keepinq <br />1. Records to be Maintained: The Subrecipient shall maintain all records required by the <br />Federal regulations specified in 24 CFR Part 570.506, that are pertinent to the activities to <br />be funded under this Agreement. Such records shall include but not be limited to: <br />a. Records providing a full description of each activity undertaken; <br />b. Records demonstrating that each activity undertaken meets the National Objective <br />and subcategory of the CDBG program listed in Exhibit A, Section LB; <br />c. Records required to determine the eligibility of activities; <br />d. Records required to document the acquisition, improvement, use or disposition of <br />real property acquired or improved with CDBG assistance; <br />e. Records documenting compliance with the fair housing and equal opportunity <br />components of the CDBG program; <br />t. Financial records as requiredby 24 CFR Part 570.502, and2 CFR 200 Uniform <br />Administrative Requirements; and <br />g. Other records necessary to document compliance with Subpart Kof 24 CFR 570. <br />The Subrecipient shall report this information on Exhib¡t "F" <br />2. Retention: The Subrecipient shall retain all financial records, supporting documents, <br />statistical records, and all other records pertinent to the Agreement for a period of seven <br />(7) years. The retention period begíns on the date of the submission of the City's annual <br />performance and evaluation report to HUD in which the activities assisted under the <br />Agreement are reported on for the final time. Notwithstanding the above, if there is <br />litigation, claims, audits, negotiations or other actions that involve any of the records <br />cited and that have started before the expiration of the seven-year period, then such <br />records must be retained until completion of the actions and resolution of all issues, or <br />the expiration of the seven-year period, whichever occurs later.