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�o��o7E3� ART�CLE IX ASSET MANAGEMENT Section 9.1. Asset Mana er (a) The Authority shall be the Asset Manager of the Project �or purposes of the Recovery Act, unless a third-party Asset Manager shall have been designated by the Authority upon the execution of this A�reement. (b) The Authority znay appoint a third-party Asset Manag�r at any time to perfonn its Asset Management duties hereunder and shall provid� the Owner with written notice of any such notice. Section 9.Z. Asset Mana�emeant Duties The Asset Manag�r will provide the following services to the Project: (a) Revievv the use af the proceeds of the Subaward to ensure such proceeds are being spent anly in accordance with the requir�ments of this Agreement, in particular and without lirnitation, Articl� N hereof, and with the Program Requiren7ents; (b) Review and report to the Authority no less than quarterly an the pragress of construction of the Project, its compliance with the Construction/Dxaw Schedule, the Plans and Specifications, and the Budget, and any changes to anticipated sources and uses, or ather rnatters which, in the judg�nent of the Asset Manager, may adversely affect the ability af the Qwner to complete the constructian of the Project by the Construction Cornpletion Date; (c) Review all �nancial status reports requrred ta be delivered pursuant to Section S.l of this Agreement; (d) Review all cornpliance rnonrtoring reports required ta be delivered pursuant ta Section 8.2 of this Agreement; and (e) Other duties as required by the Treasury. Section 9,3. Asset Mana ement Fee In consideration of the services and abligatrons of the Asset Manager hereunder, the Or�vner hereby agrees to pay to the Authority a fee in the amount af $14,968, representing the estimated actual casts of the Authority in connection with the following: (a) the costs of the Authority in establishing and docurnenting the asset managernent regime for the Subaward; (b) the costs of monitoring the cnnstruction process and approving disbursements of Section 1602 Program Funds; (c) the costs of monitoring the operations, finances and campliance of the �wner throughout the Compliance Period for purposes af the Recovery Act; and (d) other actual costs of the Authority related to the asset managernent requirernents under the Recov�ry Act pursuant ta this Agreement. - 1'7 - 4846-6923-1367.3