Laserfiche WebLink
10. Retention. The above records and all other financial records, supporting documents, <br /> statistical records and all other records pertinent to this Agreement shall be retained <br /> for a period of seven (7) years after close out or termination of this Agreement, except <br /> as follows: <br /> a. Records that are the subject of audit, litigation, claims, negotiations or other actions <br /> shall be retained until the completion of the actions and resolution of all issues or <br /> for seven (7) years, whichever occurs later; <br /> b. Records for non-expendable property shall be retained for seven (7) years after its <br /> final disposition; and <br /> c. Records for any displaced person shall be retained for seven (7) years after the <br /> person has received final payment. <br /> B. Reports <br /> The Agency agrees to submit to the City such reports as the City requests pursuant to the <br /> requirements of state or federal law. As a minimum, the Agency shall submit, in a format <br /> prescribed by the City, the following: <br /> 1. Project Close Out Reports/Submittals <br /> The Agency shall provide close out documentation required by this loan agreement <br /> and as may be required by the City, which may include, but is not limited to the <br /> following: evidence of required insurance coverages; copies of occupancy permits; <br /> architect's certificate of final completion; final lien releases from contractors in the full <br /> amount of the construction contract; affidavits that state prevailing wage have been <br /> paid, and/or required Davis Bacon documentation, if applicable; copies of the general <br /> contractor's 1 year warranty; Capital Needs Assessment; copies of final executed <br /> property management agreements and final management plan, including affirmative <br /> marketing plan; electronic copies of all final executed financing documents (including <br /> any senior or subordinate loan documents that have been revised or amended after <br /> the City of Everett loan closing); a final accounting of total project costs, including final <br /> sources and uses; and initial tenant rent rolls, and if there are HOME floating units, <br /> designation of the unit numbers and type/size of the units, consistent with the Loan <br /> Agreement designation of the HOME floating units. <br /> 2. Quarterly Reports <br /> During the construction of the Project, Quarterly reports shall be due when requested <br /> by the City(but no sooner than thirty(30)days following the end of the subject quarter); <br /> shall cover the preceding three month period; shall indicate progress made in <br /> undertaking the Project; and shall provide such financial management information as <br /> is required by the City. <br /> 3. Annual Reports <br /> The Agency's fiscal year runs from January 1st through December 31st. The Agency <br /> shall file with the City, by June 30th of each year, a Combined Funders Annual Report, <br /> Loan Agreement <br /> Cocoon House <br /> Page 38 of 51 <br />