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Participating Jurisdiction (as defined at 24 CFR Part 92) in the HOME <br /> Program. <br /> 5. 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 /> A. Records <br /> Records under this Agreement shall be retained for the applicable periods <br /> required by 24 CFR § 92.508(c). <br /> The Agency agrees to generate and maintain sufficient records to enable the <br /> County to determine whether the Agency has met the requirements of this <br /> Agreement, which records shall include the following: <br /> 1. Program records for each loan showing the sources and the uses of the <br /> funds and documenting homeowners assisted, homeowners' income, <br /> homeowners' ownership of units assisted, homeowners' occupancy of <br /> units assisted as principal residence, property type, property location, and <br /> written loan agreements meeting the requirements of Section III-D of this <br /> Agreement and 24 CFR § 92.504. <br /> 2. Financial management records in the form of separate accounts, including <br /> personnel, property, financial, and programmatic records, which <br /> sufficiently and properly reflect all direct and indirect costs of any nature <br /> and all services performed under this Agreement; <br /> 3. Records that demonstrate that the HOME-assisted properties in the <br /> Project meet the property standards contained in 24 CFR § 92.251; <br /> 4. Records that demonstrate a minimum investment of $1,000 in HOME <br /> funds for each unit rehabilitated and that demonstrate compliance with the <br /> requirements of 24 CFR § 92.254(b)(1) that the post-rehabilitation value of <br /> Exhibit A <br /> HCS-16-42-1601-198 <br /> City of Everett <br /> Page 18 of 23 <br />