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and satisfactory performance of its obligations under this contract. D. It is expressly understood and agreed by the parties hereto that any right or remedy provided for in this Section 5 or in any other provision of this contract shall not preclude the exercise of any other right or remedy under this contract or under any provision of law, nor shall any action taken in the exercise of any right or remedy be deemed a waiver of any other rights or remedies. Fa¡¡ure to exercise any right or remedy hereunder shall not constitute a waiver of the right to exercise that or any other right or remedy at any time. SECTION 6. UNIFORM ADMINISTRATIVE REQUIREMENTS, COST PRINCIPLES, AND PROGRAM INCOME A. Contractor shall comply with Office of Management and Budget (OMB) Circular A-102 as supple- mented by the rules promulgated by the Office of the Governor under the Uniform Grant and Con- tract Management Act of 1981 (TEX.REV.CIV,STAT.ANN.art.4413 (32g).), hereinafter referred to as the Management Standards, except to the extent that Department establishes variations from the Man- agement Standards in accordance with Section 6 of such Act. 8. The allowability of costs incurred for performances rendered hereunder shall be determined in accordance with OMB Circular A-87, as supplemented by Section 5.150 of the Management Stan- dards, and this contract. C, Contractor shall comply with the standards set forth in Attachment E of OMB Circular A-102 as supplemented by Section 5,156 of the Management Standards to account for program income re- lated to activities financed in whole or in part with funds provided under this contract. 1. Contractor shall maintain records of the receipt, accrual, and disposition of all program income in the same manner as required for all other funds under this contract, and Contractor shall provide reports of program income to Department with each form submitted by Contractor in accordance with Section 5 of this contract, and at the termination of this contract. 2. Program income earned by Contractor during the period of this contract shall be retained by Contractor and utilized by Contractor to fund performances specified in this contract, in the manner specified hereunder, prior to requesting additional funds from Department. SECTION 7. RETENTION AND ACCESSIBILITY OF RECORDS A. Contractor shall maintain fiscal records and supporting documentation for at! expenditures of funds made under this contract in a manner which conforms to OMB Circular A-87 , the Management Standards, and this contract. Contractor shall comply with the retention and custodial requirements for records as set forth in Attachment C of OMB Circular A-102, as supplemented by Section 5,154 of the Management Standards. B. Contractor shall give the United States Department of Housing and Urban Development, the Inspector General, the Comptroller General of the United States, the Auditor of the State of Texas, and Department, or any of their duly authorized representatives, access to and the right to examine all books, accounts, records, reports, files, and other papers, things, or property belonging to or in use by Contractor pertaining to this contract. Such rights to access shall continue as long as the records are retained by Contractor. Contractor agrees to maintain such records in an accessible location. C. Contractor shall include the substance of this Section 7 of all subcontracts. Page 3 of 12