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<br /> Contractor shall provide City with an independent audit of its activities for <br /> the term of this Agreement, conducted in accordance with the Single Audit Act of <br /> 1984, OMB Circular A-110 Uniform Requirements for Grants and Other <br /> Agreements and generally accepted auditing standards covering financial and <br /> compliance audits. Annual audits shall be forwarded to City within 30 days of <br /> completion. <br /> 8. Termination. Either party may terminate this Agreement without <br /> cause at any time during the term hereof by giving the other party not less than <br /> thirty (30) days' prior written notice of such termination. In the event of such <br /> termination, Contractor shall submit a final invoice for any unreimbursed <br /> expenditures (less offsetting income in accordance with paragraph 4) incurred to <br /> the date of termination. Contractor shall submit to City a final report of activities <br /> funded hereunder within thirty (30) days from the date of termination. <br /> Notwithstanding the foregoing, City may terminate this Agreement upon <br /> the occurrence of either of the following: <br /> (a) Federal Community Development Block Grant funds cease, for any <br /> reason, to be available to City; or <br /> (b) City has determined that the funds provided hereunder have been, <br /> or are being, used for purposes other than those described in <br /> Exhibits A and B. <br /> In either of the foregoing circumstances, City shall give Contractor not less <br /> than five (5) days' prior written notice of termination. <br /> Agmt-035 4 <br /> G :\shared\Redwood\Council <br /> FX8:djk <br /> 09/06/96 <br />