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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 /> F. Program Income <br /> 1. Program Income is gross income, revenues and receipts of the Agency <br /> derived from activities assisted with HOME funds under this Agreement, <br /> and is fully defined at 24 CFR § 92.2. Subject to provisions in the <br /> following paragraphs (2) through (5), all Program Income derived from <br /> activities assisted with HOME funds provided under this Agreement may <br /> be retained by the Agency if it is used exclusively for additional HOME <br /> projects allowed under, and subject to the terms of, this Agreement. Any <br /> such Program Income which the Agency elects not to retain for such use <br /> shall be remitted to the County. <br /> 2. All HOME Program Income received by the Agency from this Project shall <br /> be deposited in a single, separate HOME Program Income account ("the <br /> Exhibit A-3 <br /> HCS-16-42-1601-198(3) <br /> City of Everett <br /> Page 16 of 23 <br />