N.Y. Private Housing Finance Law § 1054: Administration of contracts

§ 1054. Administration of contracts. 1. A contract pursuant to this

article may provide for such periodic payments as may be appropriate.

2. The corporation shall periodically review the performance of each

contractor pursuant to this article. Such reviews shall include

evaluation of the quality of the activities performed, the conformity

thereof to contract provisions and the financial integrity and

efficiency of the contractor.

3. Each contract pursuant to this article shall provide that:

(a) it may be modified and renegotiated from time to time; and

(b) it may be terminated by the corporation upon a finding of

substantial noncompliance or other breach of its terms by the

contractor.