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<br />withhold payment of funds hereunder until all such delinquent reports have been <br /> <br />submitted. <br /> <br />Contractor receiving funding in excess of $300,000 shall provide City with an <br /> <br />independent audit of its activities for the term of this Agreement, conducted in <br /> <br />accordance with the Single Audit Act of 1984, OMB Circular A-IIO Uniform <br /> <br />Requirements for Grants and Other Agreements and generally accepted auditing <br /> <br />standards covering financial and compliance audits. Annual audits shall be forwarded to <br /> <br />City within 30 days of completion. <br /> <br />8. Termination. Either party may terminate this Agreement without cause at <br /> <br />any time during the term hereof by giving the other party not less than thirty (30) days <br /> <br />prior written notice of such termination. In the event of such termination, Contractor <br /> <br />shall submit a final invoice for any unreimbursed expenditures (less offsetting income in <br /> <br />accordance with paragraph 4) incuITed to the date of termination. Contractor shall <br /> <br />submit to City a final report of activities funded hereunder within thirty (30) days from <br /> <br />the date of termination. <br /> <br />Notwithstanding the foregoing, City may terminate this Agreement upon the <br /> <br />occuITence 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 determined 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 />10/15/99 <br /> <br />4 <br />