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<br />3!.R <br /> <br />statement and analysis may be combined with the annual narrative report submitted <br /> <br />pursuant to paragraph 6. <br /> <br />Contractor shall submit monthly to City's Housing Coordinator a Program analysis and <br /> <br />progress report documenting Contractor's success in meeting the Program objectives <br /> <br />referenced in paragraph 2. The final report shall be submitted no later than July 15, <br /> <br />2000. If Contractor shall fail to submit such monthly reports on a timely basis, City may <br /> <br />withhold payment of funds hereunder until all such delinquent reports have been <br /> <br />submitted. <br /> <br />Contractor receiving funding in excess of $300,000 shall provide City with an <br /> <br />independent audit of its activities for the term of this Agreement, conducted in <br /> <br />accordance with the Single Audit Act of 1984, OMB Circular A-llO Uniform <br /> <br />Requirements for Grants and Other Agreements and generally accepted auditing <br /> <br />standards covering financial and compliance audits. Annual audits shall be forwarded to <br /> <br />City within 30 days of completion. <br /> <br />8. Termination. Either party may terminate this Agreement without cause at <br /> <br />any time during the term hereof by giving the other party not less than thirty (30) days <br /> <br />prior written notice of such termination. In the event of such termination, Contractor <br /> <br />shall submit a final invoice for any unreimbursed expenditures (less offsetting income in <br /> <br />accordance with paragraph 4) incurred to the date of termination. Contractor shall <br /> <br />submit to City a final report of activities funded hereunder within thirty (30) days from <br /> <br />the date of termination. <br /> <br />Agmt-333 <br />F: / Share dIRe d w oodJ Co un c il <br />DES:djk <br />03/17/00 <br /> <br />4 <br /> <br />-.,....--~- <br />