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ARTICLE III DUTIES AND COMPENSATION Of THE PROGRAM ADMINISTRATOR 3.1 Duties. For and on behalf of the City, the Program Administrator will perform the following duties in a careful and timely manner, in accordance with that standard of care generally applied in its profession in similar circumstances, and no additional duties shall be imposed upon the Program Administrator by implication or inference: A. It will be familiar with and will give written notice to the City, the Trustee and the Developer within five days of any change in: The Median Income for the Area, and 2. The maximum income at which households consisting of various numbers of persons may be determined to be individuals of low or moderate income within the meaning of the Code and Lower-Income Tenants under the terms of the Regulatory Agreement. B. Promptly following its receipt thereof, it will review the Income Computation and Certifications, 'Certificates of Continuing Program Compliance, and all other reports and certificates furnished to it pursuant to the Regulatory Agreement in order to determine that each such document is complete and to verify the internal accuracy of the calculations, and conclusions with respect to such calculations, set forth therein (provided, however that absent actual knowledge on the part of the Program Administrator of factual inaccuracies in any such report or certificate, it may conclusively rely upon the accuracy and completeness thereof); and it will maintain such documents on file and open to the inspection of the City, the Trustee and the Developer for the period of time that any Bonds remain outstanding. C. Promptly upon determining that any report or certificate submitted to it pursuant to the Regulatory Agreement demonstrates that the Project is not in compliance with the Code or is inaccurate or incomplete the Program Administrator shall: 1. If the inaccuracy or lack of completeness does not cause the Project to cease to meet the qualifications set forth in Sections 3 and 4 of the Regulatory Agreement, give notice of such to the Developer and direct the Developer to correct or complete the same, as the case may be, within a reasonable period of time thereafter; and 2. If the content of the report or inaccuracy or lack of completeness does cause the Project to cease to meet the qualifications set forth in Sections 3 or 4 of the Regulatory Agreement, immediately give written notice of said fact to the City, the Trustee, the Bank and the Developer. D. In the event that the Developer fails to file with the Program Administrator any report or certification required pursuant to the