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subsequently transfer the loans to the County, or notify the County that it <br /> will transfer to the County the full balance of such funds so that the County <br /> may close the pending loans. <br /> 3. The Agency shall return or repay to the County all HOME funds disbursed <br /> to it under this Agreement upon the occurrence of any of the following <br /> events: <br /> a. The housing in which HOME funds are invested does not meet the <br /> post-rehabilitation actual value specified in 24 CFR § 92.254(b)(1), <br /> PROVIDED, HOWEVER, that the Agency need only return or repay <br /> HOME funds attributable to the particular housing not meeting such <br /> affordability requirements; or <br /> b. The Agency has received HOME funds pursuant to this Agreement to <br /> pay or reimburse it for activities subsequently found to be ineligible for <br /> funding, PROVIDED, HOWEVER, that the Agency need only return or <br /> repay HOME funds attributable to the ineligible activity; <br /> c. The HOME funds disbursed by the County are not used in accordance <br /> with HOME Program requirements and this Agreement, PROVIDED, <br /> that the Agency need only return or repay HOME funds attributable to <br /> activities not undertaken in accordance with HOME Program <br /> requirements or this Agreement. <br /> d. If overpayments are made solely to the extent of the overpayment. <br /> Any HOME funds to be returned or repaid to the County must be repaid to <br /> the County's HOME Fund local account. <br /> E. Reversion of Assets <br /> All unexpended funds authorized by the Project Budget (Exhibit C) upon <br /> closeout of the Agreement shall revert to the Snohomish County HOME <br /> Program. The Agency shall, upon expiration or termination of this HOME <br /> Agreement, transfer to the County: <br /> 1. Any HOME funds and Program Income on hand at the time of such <br /> expiration or termination; and <br /> 2. Its rights in any accounts receivable attributable to the use of HOME <br /> funds. <br /> Exhibit A <br /> HCS-16-42-1601-198 <br /> City of Everett <br /> Page 16 of 23 <br />