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' K <br /> 6. Whenever Municipality uses CDBG funds in an amount of less than <br /> $25,000 in whole or in part to acquire or improve real property, Municipality shall <br /> inform County in a timely manner of any modification or change in use of the real <br /> property from that planned at the time of acquisition or improvements by <br /> municipality, including property disposition. If Municipality sells or transfers <br /> such property, Municipality shall reimburse County in an amount equal to the <br /> current fair market value (less any portion thereof attributable to expenditures on <br /> non-CDBG funds). <br /> Municipality agrees that any real property under Municipality's control that <br /> was acquired or improved in whole or in part with CDBG funds in excess of <br /> $25,000 is either: <br /> (i) Used to meet one of the national objectives in 570.208 until five <br /> years after expiration of the agreement, or such longer period of <br /> time as determined appropriate by the County; or <br /> (ii) Is disposed of in a manner which results in the County being <br /> reimbursed in t he amount of the current fair market value of the <br /> property less any portion thereof attributable to expenditures of <br /> non-CDBG funds for acquisition of, or improvement to, the <br /> property. Such reimbursement is not required after the period <br /> of time specified in accordance with (i) above. <br /> Any program income generated from the disposition or transfer of <br /> property prior to or subsequent to the close-out or change of status, or termination <br /> of this Agreement shall be treated according to the provisions for program income <br /> applicable to CDBG's set out in the Code of Federal Regulations and the <br /> Agreement. <br /> 5 <br />