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<br />SECTION 7. RETENTION AND ACCESSIBILITY OF RECORD~ <br />A. Contractor shall maintain fiscal records and supporting documentation for <br />all expenditures of funds made under this contract in a manner which conforms <br />to OMB Circular A-87, the Management Standards, and this contract in a manner <br />which conforms to OMB Circular A-8?, The Management Standards, and this <br />contract. Contractor shall comply with the retention and custodial <br />requirements for records as set forth in Attachment C of OMB Circular A-102, <br />as supplemented by Section 5.154 of the Management Standards. <br />a. Contractor shall give the United States Department of Housing and Urban <br />Development, the Inspector General, the Comptroller General of the United <br />States, the Auditor of the State of Texas, and Department, or any of their <br />duly authorized representatives, access to and the right to examine all books, <br />accounts, records, reports, files, and other papers, things, or property <br />belonging to or in use by Contractor pertaining to this contract. Such rights <br />to access shall continue as long as the records are retained by Contractor. <br />Contractor agrees to maintain such records in an accessible location. <br />c. Contractor shall include the substance of this Section 7 in all <br />subcontracts. <br />SECTION 8. REPORTING REQUIREMENTS <br />A. Contractor shall submit to Department such reports on the operation and <br />performance of this contract as may be required by Department including but <br />not limited to the reports specified in this Section 8. <br />B. Contractor shall submit to Department no later than the twentieth {20th} <br />day of the month after the end of each quarter of the contract period <br />specified in Section 2, a Quarterly Progress Report of the progress, in <br />narrative form, of all construction and nonconstruction activities by budget <br />categories performed pursuant to Exhibit A, Performance Statement, and of the <br />expenditures and obligations of funds by budget category made pursuant to <br />Exhibit a, Budget, of this contract. The Quarterly Progress Report shall be <br />in a format prescribed by Department and shall include all such activities, <br />expenditures, and obligations made or performed under this contract during the <br />previous quarter. <br />C. Contractor shall submit a Certificate of Completion to Department no later <br />than sixty {GO} days after the completion of the activities specified in <br />Exhibit A of this contract. The Certificate of Completion shall be in a <br />format prescribed by Department and shall include a final Project Completion <br />Report of all activities performed under this contract. <br />D. In addition to the limitations on liability otherwise specified in this <br />contract, it is expressly understood and agreed by the parties hereto that if <br />Contractor fails to submit to Department in a timely and satisfactory manner <br />any report required by this contract, Department may, at its sole option and <br />in its sole discretion, withhold any or all payments otherwise due or <br />requested by Contractor hereunder. If Department witholds such payments, it <br />shall notify Contractor in writing of its decision and the reasons therefore. <br />Payments withheld pursuant to this paragraph may be held by Department until <br />such time as the delinquent obligations for which funds are withheld are <br />fulfilled by Contractor. <br /> PAGE 4 OF 11 <br />