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DocuSign Envelope ID: El A0E30C-7C28-45F5-8C00-3FE5E3A80950 202401002 §3.05 Other Required Conditions Governing the Use of Trust Funds. The Project must comply with all the requirements of the Program, the Act, the Rules, and the Guidelines including, but not limited to: Units in NAHTF-assisted rental housing projects must be occupied by households that meet the occupancy -eligibility requirements (tenant income eligibility requirements) within six (6) months following the date of Project Completion. If the NAHTF-assisted units are not occupied by eligible tenants within six (6) months following Project Completion, the Recipient must prepare (in conjunction with the Owner if the Recipient is not the Owner) and submit marketing information regarding the Project and, if required by the Department, a marketing plan for the Project. Furthermore, the Department may require repayment of all Trust Funds invested in any Trust Fund -assisted unit that is not rented to eligible tenants within eighteen (18) months following Project Completion. PART IV: OTHER CONTRACTUAL CONDITIONS. §4.01 Accounting for Trust Funds by the Recipient. A separate bank account for the Trust Funds is not required; however, the Trust Funds must be accounted for separately in the books and records of the Recipient in such a manner as to allow funds tracing and a current status review of the Trust Funds at all times. Upon request, the Recipient must provide evidence to the Department that other sources of funding for the Project have been contributed pursuant to the Application and the Sources and Uses of Funds Table contained in Part III. The Recipient must keep all records concerning the Trust Funds in a manner which is consistent with generally accepted accounting principles. Payments from such Trust Funds will be obligations incurred in the performance of this contract and must be supported by contracts, invoices, brochures, and other data, as appropriate, evidencing the necessity for such expenditures as well as proof of expended funds in the form of cancelled checks, bank statements, evidence of wire transfer or electronic payment or any other accepted means of proving proof of payment from Recipient to vendor or employee. Proof of Payment must be clearly documented to allow for easy tracking back to invoices. The Department reserves the right to reject payment requests for inadequate source documentation including inadequate proof of payment documentation. Other requirements regarding disbursements from the Department to the Recipient are addressed in §1.01. §4.02 Designation of Officials to Execute Contract and Amendments. The Director of the Department or their designee is the official authorized individual to execute this contract and any amendments to this contract on behalf of the Department. NAHTF 23-TFRH-34010—Page 10 of 18