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<br />objectives referenced in paragraph 2. The final report shall be submitted no later than <br /> <br />July 15, 2000. If Contractor shall fail to submit such monthly reports on a timely basis, <br /> <br />City may withhold payment of funds hereunder until all such delinquent reports have <br /> <br />been submitted. <br /> <br />Contractor shall provide City with an independent audit of its activities for the <br /> <br />tenn of this Agreement, conducted in accordance with the Single Audit Act of 1984, <br /> <br />OMB Circular A-llO Unifonn Requirements for Grants and Other Agreements and <br /> <br />generally accepted auditing standards covering financial and compliance audits. Annual <br /> <br />audits shall be forwarded to City within 30 days of completion. <br /> <br />8. Termination. Either party may tenninate this Agreement without cause at <br /> <br />any time during the tenn hereof by giving the other party not l~ss than thirty (30) days <br /> <br />prior written notice of such tennination. In the event of such tennination, 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 tennination. Contractor shall <br /> <br />submit to City a final report of activities funded hereunder within thirty (30) days from <br /> <br />the date of tennination. <br /> <br />Notwithstanding the foregoing, City may tenninate this Agreement upon the <br /> <br />occurrence of either of the following: <br /> <br />(a) <br /> <br />Federal Community Development Block Grant funds cease, for <br /> <br />any reason, to be available to City; or <br /> <br />(b) <br /> <br />City has detennined that the funds provided hereunder have been, <br /> <br />or are being, used for purposes other than those described in Exhibits A <br /> <br />andB. <br /> <br />Agmt-329 <br />F :/Shared/R edwood/Counci I <br />03103/00 <br /> <br />4 <br />