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14 <br /> erect a sign to City specifications at the construction site for the Project <br /> identifying the source of funds. <br /> H. POPULATION TO BENEFIT FROM THE PROJECT <br /> The facility shall be operated as a workforce development center associated <br /> with the low-income supportive housing on the Property and available to Very <br /> Low-income persons available exclusively to participants whose gross <br /> annual household income (at the time of initial acceptance into the workforce <br /> training program) is not more that fifty percent (50%) of the annual median <br /> income for the Seattle-Bellevue-Everett metropolitan statistical area, <br /> adjusted for household size, as estimated from time to time by the U.S. <br /> Department of Housing & Urban Development (HUD). If at any future time <br /> HUD ceases issuing said median household estimates, the income under <br /> this Agreement shall be as determined by the City. <br /> Further,the Grantee shall verify the income of the workforce training program <br /> participants only in accordance with methods prescribed by or agreed to by <br /> the City. <br /> III. TERM OF AGREEMENT <br /> The term of this Agreement begins on the date of the Agreement and expires <br /> December 31, 2043. This Agreement may be terminated by the City prior to its <br /> expiration date as provided in Section XVIII hereof. <br /> Following expiration or termination of this Agreement, the Owner's obligations to the <br /> City shall remain in full force and effect until all closeout requirements of this <br /> Agreement are completed. Closeout requirements comprise all actions required to <br /> demonstrate to the City's satisfaction that all terms and conditions of the Agreement <br /> have been fulfilled, including, but not limited to, repayment of the Loan (if Loan is not <br /> forgiven); certificate of occupancy; inspection of the final Project; and to the extent <br /> all funds identified in the Project budget have not been disbursed, letters from other <br /> funders evidencing their satisfaction with the Project and stating that there are no <br /> outstanding issues which would cause their withholding of funds. <br /> IV. PAYMENT AND DISBURSEMENTS <br /> Disbursements by the City pursuant to this Agreement shall be on a reimbursement <br /> basis covering actual expenditures for the project or obligations of the Owner <br /> currently due and owing, but not paid. No payment shall be made for any services, <br /> work, supplies or materials except for services, work, supplies or materials within the <br /> scope of a category set forth in the Project Budget in Exhibit D of this Agreement, <br /> and all funds received by the Owner pursuant to this Agreement must be <br /> reimbursement for services, work, supplies or materials identified in the Project <br /> Budget identified in Exhibit D of this Agreement . <br /> To receive disbursements the Owner shall submit to the City a Request for • <br /> Reimbursement/Actual Expenditure Report supported by copies of vouchers, <br /> invoices, salary and wage summaries, or other documentation acceptable to the <br /> City. Predevelopment costs can be charged starting with expenses incurred from <br /> 3 <br /> • <br /> 79 <br />