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<br />1. <br /> <br />FINANCIAL ASSISTANCE. City will allocate to Contractor the sum of Ten <br /> <br />Thousand and no/100 Dollars ($10,000) for exclusive use by Contractor during the fiscal year <br />commencing July 1, 2005, and ending June 30, 2006, solely for the purposes described in <br /> <br />Paragraph 2. <br /> <br />2. <br /> <br />USE OF FUNDS. Contractor will use the funds provided pursuant to Paragraph 1 <br /> <br />solely for the Project purposes described in Exhibits A (Budget) and Exhibit B (Contractor <br />Objectives), and Exhibit C (Compliance with California Labor Laws and Federal requirements), <br /> <br />attached hereto and by this reference incorporated herein. <br /> <br />3. <br /> <br />CHANGES TO PROJECT. No changes in the Project described in this Agreement <br /> <br />which is funded by the financial assistance provided under Paragraph 1 will be made without <br />the prior written consent of City. <br /> <br />4. <br /> <br />PAYMENTS. Contractor will keep detailed and accurate records of all <br /> <br />expenditures made and expenses incurred which are funded under this Agreement. Payments <br />of funds allocated pursuant to Paragraph 1 will be made to Contractor on a reimbursement <br /> <br />basis as follows: (i) Contractor will submit requests for payment to City monthly on forms <br />provided by City's Housing Coordinator; (ii) all requests for payment will be accompanied by <br /> <br />receipts or other proof of expenditures, and will disclose amounts of Project income, if any, <br />generated by user fees; (iii) Contractor will submit billings over a tenmonth period. Final <br /> <br />payment must be submitted and received by the City no later than May 20, 2004, pursuant to <br />Exhibit A; (iv) such income amounts will be subtracted from corresponding requests for <br /> <br />payment; and (v) Project income, if applicable, will be expended by Contractor prior to <br />requesting additional reimbursements from City. <br /> <br />5. <br /> <br />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 of, and <br />accountability for, funds held and disbursed in trust. The Project will conform to the highest <br /> <br />standards providing for projects of similar or like nature in the San Francisco Bay Area. <br />Contractor will be responsible for, and hold City harmless from, any failure to adhere <br /> <br />9/11 103 <br /> <br />2 <br />