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DocuSign Envelope ID: 348BB866-CFC7-422D-BFB7-863533B13759 3.05 REVERSION OF ASSETS Upon expiration or termination of the Contract and subject to this Article (a) If applicable, Subrecipient shall transfer to the GLO any CDBG-MIT funds Subrecipient has in its possession at the time of expiration or termination that are not attributable to work performed on the Project and any accounts receivable attributable to the use of CDBG-MIT funds awarded under this Contract; and (b) If applicable, real property under Subrecipient's control that was acquired or improved, in whole or in part, with funds in excess of $25,000 under this Contract shall be used to meet one of the CDBG-MIT National Objectives pursuant to 24 C.F.R. § 570.208, as identified in the Action Plan, until five (5) years after the expiration of this Contract or such longer period of time as the GLO deems appropriate. If Subrecipient fails to use the CDBG-MIT funded real property in a manner that meets a CDBG-MIT National Objective for the prescribed period of time, Subrecipient shall pay the GLO an amount equal to the current fair market value of the property less any portion of the value attributable to expenditures of non-CDBG-MIT funds for acquisition of, or improvement to, the property. Subrecipient may retain real property acquired or improved under this Contract after the expiration of the five-year period or such longer period of time as the GLO deems appropriate. ARTICLE IV - CONTRACT ADMINISTRATION 4.01 SUBMISSIONS — GENERALLY Except for legal notices that must be sent by specific instructions pursuant to Section 8.10 of the Contract, any report, form, document, or request required to be submitted to the GLO under this Contract shall be sent in the format prescribed by the GLO. If Subrecipient fails to submit to the GLO any required Program documentation in a timely and satisfactory manner as required under this Contract, the GLO, in its sole discretion, may issue a delinquency notification and withhold any payments, pending Subrecipient's correction of the deficiency. (a) Start -Up Documentation Not later than the close of business sixty (60) calendar days after the effective date of this Contract, Subrecipient must submit its Start -Up Documentation to the GLO. (b) Audit Certification Form Not later than the close of business sixty (60) calendar days after the end of Subrecipient's fiscal year for each year during the Contract term, Subrecipient must submit a completed Audit Certification Form to the GLO. (c) Other Forms In conformance with required state and federal laws applicable to the Contract: (i) Subrecipient certifies, by the execution of this Contract, all applicable statements in Attachment C, General Affirmations; GLO Contract No. 22-119-004-D374 Page 11 of 29