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<br />Payments of funds allocated pursuant to paragraph 1 hereof shall be made to Contractor <br /> <br />on a reimbursement basis as follows: (i) Contractor shall submit requests for payment to <br /> <br />City monthly on forms provided by City's Housing Coordinator; (ii) all requests for <br /> <br />payment shall be accompanied by receipts or other proof of expenditure, and shall <br /> <br />disclose amounts of Program income, if any, generated by user fees; (iii) contractor shall <br /> <br />submit billings over a ten month period. Final payment must be submitted and received <br /> <br />by the City no later than May 20, 2001 pursuant to Exhibit A; (iv) such income amounts <br /> <br />shall be subtracted from corresponding requests for payment; and (v) Program income <br /> <br />shall be expended by Contractor prior to requesting additional reimbursements from <br /> <br />City. <br /> <br />6. 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. <br /> <br />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 exclusively residents originating from <br /> <br />within Redwood City's corporate limits. <br /> <br />8/15/00 <br /> <br />3 <br />