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5. Disbursements shall be limited to the amounts needed for allowable <br /> Project costs. <br /> 6. Disbursements will not occur, and payments may be withheld, unless the <br /> Agency provides proper documentation for the reimbursement requests. <br /> In addition, the County reserves the right to withhold payments pending <br /> delivery of Project reports or other documents as may be required under <br /> this Agreement. <br /> C. Budget Revisions and Other Adjustments <br /> In additions to the provisions contained in the Basic Terms and Conditions, <br /> the County reserves the right to reduce the amount of the Project Budget <br /> established by this Agreement if the Agency is not undertaking the Project <br /> activity at a level consistent with the terms and conditions, including but not <br /> limited to Exhibit B, of this Agreement. All disbursements under this <br /> Agreement shall be subject to audit and recovery of disallowed costs. <br /> D. Repayment of HOME Funds <br /> 1. The Agency shall return or transfer to the County, as the case may be, all <br /> undisbursed HOME funds and Program Income not otherwise committed <br /> for pending loans upon the occurrence of any of the following events: <br /> a. The Project terminates before completion, voluntarily or involuntarily; <br /> or <br /> b. The Agency's Community Housing Improvement Program or the <br /> Agency itself ceases to exist; or <br /> c. This Agreement between the County and the Agency is terminated. <br /> 2. To the extent there are pending loans to be made at the time of any such <br /> occurrence, the Agency shall either make the pending loans and <br /> 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 /> Exhibit A-3 <br /> HCS-16-42-1601-198(3) <br /> City of Everett <br /> Page 15 of 23 <br />