New York Private Housing Finance Law
Sec. § 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.
Source
Last accessed
Dec. 13, 2016