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<br />3. <br /> <br />CHANGES TO PROJECT. <br /> <br />No changes in the Project described in this <br /> <br />Agreement which are funded by the financial assistance provided under Paragraph 1 will be <br />made without the prior written consent of City. <br /> <br />4. <br /> <br />PAYMENTS. <br /> <br />Contractor will keep detailed and accurate records of all <br /> <br />expenditures made and expenses incurred which are funded under this Agreement. <br />Payments of funds allocated pursuant to Paragraph 1 will be made to Contractor on a <br /> <br />reimbursement basis as follows: (i) Contractor will submit requests for payment to City <br />monthly on forms provided by City's Housing Coordinator; (ii) all requests for payment will <br /> <br />be accompanied by receipts or other proof of expenditures, and will disclose amounts of <br />Project income, if any, generated by user fees; (iii) Contractor will submit billings over a ten- <br /> <br />month period. Final payment must be submitted and received by the City no later than May <br />20, 2006, pursuant to Exhibit A; (iv) such income amounts will be subtracted from <br /> <br />corresponding requests for payment; and (v) Project income, if applicable, will be expended <br />by Contractor prior to requesting additional reimbursements from City. <br /> <br />5. <br /> <br />STANDARD OF SERVICE. Contractor warrants to City that it will use and <br /> <br />account for all funds provided hereunder strictly in accordance with standards governing the <br />use of, and accountability for, funds held and disbursed in trust. The Project will conform to <br /> <br />the highest standards providing for projects of similar or like nature in the San Francisco Bay <br />Area. Contractor will be responsible for, and hold City harmless from, any failure to adhere <br /> <br />to such standards. Contractor will verify that all activities funded hereunder benefit only <br />residents within City's corporate limits. <br /> <br />6. ANNUAL REPORT. Contractor will submit a narrative report to City describing <br />the activities funded under this Agreement. The report will include the total number of direct <br /> <br />beneficiaries with demographic information regarding income, household composition, <br /> <br />ethnicity, age and other data as required by City or the United States Department of <br />Housing and Urban Development and will be submitted on forms provided by City's Housing <br /> <br />Coordinator. The annual report will be submitted no later than July, 15, 2006. <br /> <br />CDBG/DJT.cje <br /> <br />2 <br /> <br />7/19/2005 <br />