N.Y. Private Housing Finance Law § 1054

§ 1054. Administration of contracts. 1. A contract pursuant to this\narticle may provide for such periodic payments as may be appropriate.\n 2. The corporation shall periodically review the performance of each\ncontractor pursuant to this article. Such reviews shall include\nevaluation of the quality of the activities performed, the conformity\nthereof to contract provisions and the financial integrity and\nefficiency of the contractor.\n 3. Each contract pursuant to this article shall provide that:\n (a) it may be modified and renegotiated from time to time; and\n (b) it may be terminated by the corporation upon a finding of\nsubstantial noncompliance or other breach of its terms by the\ncontractor.\n