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<br />the City by virtue of any breach of this contract by Subrecipient and City may withhold any <br />payments to Subrecipient until the exact amount of monetary damages due the City from <br />Subrecipient is determined. <br /> <br />7.3 If the City becomes aware of any Subrecipient activity which could jeopardize the <br />City's position with HUD and cause the City to return CDBG funds or other federal funds <br />received by the City, the City may take appropriate action, including injunctive relief against <br />the Subrecipient, to terminate or prevent the activity. Failure of the City to exercise this <br />right will not constitute a waiver by the City of its right to demand payment or to seek any <br />other relief in law or in equity to which it may be entitled. <br /> <br />ARTICLE 8 <br />ASSETS AND <br />REVERSION OF ASSETS <br /> <br />8.1 Subrecipient will not purchase any assets unless specifically permitted by City and <br />such procurement will be done in the form and manner so prescribed by the City. Any <br />asset acquired or improved in part or in whole with CDBG funds in excess of $25,000.00 <br />must be an activity that meets one of the national objectives listed in 24 CFR 570.201 for <br />a period of five years after the expiration of this agreement or a longer period if so <br />determined by the recipient. For the purposes of this Agreement, an asset is as defined <br />in 24 C.F.R. 570.503 (b)(8). <br /> <br />8.2 The disposition of any asset improved or acquired in part or in whole with CDBG <br />funds by the Subrecipient must be done with prior approval of the City and City will be <br />reimbursed for the asset if sold, in the full amount of the disposed value of the asset. The <br />City may, at its option, request that such asset be transferred to the City if the asset is no <br />longer being used to meet one of the three national objectives or in any case where <br />Subrecipient no longer provides services shown on Exhibit A. The Subrecipient will <br />transfer the asset to the City if the City makes such a request. <br /> <br />8.1 Upon expiration of this Agreement or if Subrecipient discontinues its services under <br />this Agreement, it will immediately remit to the City all unexpended CDBG grant funds <br />received from the City. The City has authorization from HUD to collect these CDBG funds. <br />Any unexpended funds still remaining will be appropriated to eligible CDBG activities in <br />compliance with the City's budgetary process. <br /> <br />ARTICLE 9 <br />TIME OF PERFORMANCE <br /> <br />9.1 <br /> <br />The <br /> <br />effective <br /> <br />date <br /> <br />of this <br />20 <br /> <br />Agreement is day of <br />and the termination date will be the <br />day of ,20_. <br /> <br />6 <br />