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accepted auditing standards covering financial and compliance audits. Annual <br /> audits will be submitted to City with the final 4th quarter progress report referred <br /> to in Paragraph 6. <br /> 8. CITY AUDIT: MONITORING. City may audit the records and <br /> accounts of Contractor for the purpose of verifying expenditures by Contractor of <br /> funds provided by City pursuant to this Agreement or verifying statements or <br /> analyses made or provided by Contractor under this Agreement. Contractor will <br /> promptly respond to, and comply with, any audit exception made or taken by City <br /> or appropriate federal agencies relating to Contractor's performance or failure to <br /> perform under this Agreement. Contractor will, upon demand by City, pay City <br /> the full amount owing to City or to the United States Government as a result of <br /> any such audit exception. <br /> City will monitor Contractor's Project and expenditures made pursuant to <br /> this Agreement quarterly to verify Contractor's compliance with this Agreement <br /> and local and federal contract requirements. Contractor shall cooperate with City <br /> and provide all documents and information requested by City in a timely and <br /> accurate fashion. <br /> 9. RECORD RETENTION. Contractor shall retain all financial, <br /> supporting documents, statistical records, and all other records pertinent to the <br /> Agreement for a period of four (4) years. The retention period begins on the date <br /> of the submission of the City's Comprehensive Annual Performance & Evaluation <br /> Report (CAPER} to HUD in which the activities assisted under the Agreement are <br /> reported on for the final time. Notwithstanding the above, if there is litigation, <br /> claims, audits, negotiations or other actions that involve any of the records cited, <br /> and that have started before the expiration of the four-year period, then such <br /> records must be retained until completion of the actions and resolution of all <br /> issues, or the expiration of the four year period, whichever occurs later. <br /> REV:10-31-14 VR&RL <br /> Page 4 of 15 <br /> ATTY/AGR.2014.216/REBUILDING TOGETHER/MINOR HOME REPAIR PROGRAM <br />