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10/22/2003 14:03 650261'3102 RWC CITY CLERK PAGE 05 manner in which, and the specific purposes for which, the funds paid hereunder were expended to the date of such accounting. In addition to the foregoing, and in any event. Contractor shall submit to City no later than July 30, 2004, a copy of the agency or program's financial statement. Said statement will be submitted with the end of the year annual report pursuant to section 6. Contractor shall provide City with a copy of it's most recent independent audit conducted in accordance with the Single Audit Act of 1984, OMB Circular A-110 Uniform Requirements for Grant and Other Agreement and generally accepted auditing standards covering financial and compliance audits. Audit shall be submitted to the City with the end of the year annual report pursuant to section 6. 8. TERMINATION. Either party may terminate this agreement without cause at any time during the term hereof by giving the other party not less than thirty (30) days' prior written notice of such termination. In the event of such termination, Contractor shall submit a final invoice for any expenditures Incurred to the date of termination. Contractor shall submit to City a final report of activities funded hereunder within thirty (30) days from the date of termination. Notwithstanding the foregoing. City may terminate this agreement upon the OCCUrrence of either of the following: (a) Human Service Financial Assistance funds cease, for any reason, to be (b) City has determined that the funds provided hereunder have been. or are In either of the foregoing circumstances, City shall give Contractor not less than five (5) days' prior written notice of termination of such reason. Nothing contained in this paragraph shall be deemed to limit the right of the parties to terminate this agreement for cause or otherwise to exercise any right or pursue any remedy which may accrue to them. 9. AUDIT: MONITORING. City may audit the records and accounts of Contractor for the purpose of verifying expenditures by Contractor of funds provided hereunder or verifying statements or analyses made or provided by Contractor hereunder. Contractor shall respond to, - - -. - T'·· ···t··_