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<br />similar or like nature in the San Francisco Bay Area. Contractor shall be responsible for, <br /> <br />and hold City hannless 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. Annual reports shall continue to be due to City each year for a period of no less <br /> <br />than five years from the date of execution of this agreement. <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 infonnation 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 fonns <br /> <br />provided by City's Housing Coordinator. Annual reports shall continue to be due to City <br /> <br />each year for a period of no less than five years from the date of execution of this <br /> <br />agreement. <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 infonnation. Said <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 <br /> <br />analysis and progress report documenting Contractor's success in meeting the Program <br /> <br />Agmt-329 <br />F :/8 hared/Redwood/Counci I <br />03/03100 <br /> <br />3 <br />