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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. <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 information regarding income, <br /> <br />household composition, ethni city , 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 forms <br /> <br />provided by City's Housing Coordinator. <br /> <br />7. Financial Statement! Analysis: Monthly 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 information. 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 analysis and <br /> <br />progress report documenting Contractor's success in meeting the Program objectives <br /> <br />referenced in paragraph 2. The final report shall be submitted no later than July 15, <br /> <br />2000. If Contractor shall fail to submit such monthly reports on a timely basis, City may <br /> <br />10/15/99 <br /> <br />3 <br />