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<br />5. Standard of Service. Contractor warrants to City that it will use and account <br /> <br />for all funds provided hereunder strictly in accordance with standards governing the use <br /> <br />of, and accountability for, funds held and disbursed in trust. Contractors program <br /> <br />funded hereunder shall conform to the highest standards providing for programs of <br /> <br />similar or like nature in the San Francisco Bay Area. Contractor shall be responsible for, <br /> <br />and hold City harmless from, any failure to adhere to such standards. Contractor shall <br /> <br />verify that all activities funded hereunder benefit only residents within City's corporate <br /> <br />limits. <br /> <br />6. Annual Report. Contractor shall submit a narrative report to City annually <br /> <br />describing the activities funded under this agreement. Said report shall include the total <br /> <br />number of direct beneficiaries with demographic information regarding income, <br /> <br />household composition, ethnicity, age, and other data as required by City or the United <br /> <br />States Department of Housing and Urban Development and shall be submitted on forms <br /> <br />provided by City's Housing Coordinator. <br /> <br />7. Financial Statement! Analvsis: Monthlv Reports: Audit. Contractor shall <br /> <br />make available to City, or the public, upon request, a financial statement and analysis <br /> <br />setting forth in detail the manner in which, and the specific purposes for which, the funds <br /> <br />paid hereunder were expended to the date of such accounting. <br /> <br />In addition to the <br /> <br />foregoing, and in any event, Contractor shall submit to City no later than July 15, 2000, a <br /> <br />detailed financial statement and analysis setting forth the foregoing information. Said <br /> <br />Agmt-333 <br />F:/SharedJRed wood/Council <br />DES:djk <br />03/17/00 <br /> <br />3 <br /> <br />....... <br /> <br />.~....".. <br />