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City of Redwood City Agreement No. D1712655 Page 19 of 28 EXHIBIT C — STANDARD TERMS AND CONDITIONS C-1. Accounting and Auditing Standards The Recipient shall maintain GAAP -compliant Project accounts, including GAAP requirements relating to the reporting of infrastructure assets. C-2. Amendment No amendment or variation of the terms of this Agreement shall be valid unless made in writing, signed by the parties, and approved as required. No oral or written understanding or agreement not incorporated in this Agreement is binding on any of the parties. C-3. Assignability This Agreement is not assignable by the Recipient, either in whole or in part. C11. Audit (a) The Division, at its option, may call for an audit of financial information relative to the Project, where the Division determines that an audit is desirable to assure program integrity or where such an audit becomes necessary because of state or federal requirements. Where such an audit is called for, the audit shall be performed by a certified public accountant independent of the Recipient and at the cost of the Recipient. The audit shall be in the form required by the Division. (b) Audit disallowances will be returned to the State Water Board. Failure to comply with audit disallowance provisions shall disqualify the Recipient from participating in State Water Board funding programs. C-5. Bonding Where contractors are used, the Recipient shall not authorize construction to begin until each contractor has furnished a performance bond in favor of the Recipient in the following amounts: faithful performance (100%) of contract value, and labor and materials (100%) of contract value. This requirement shall not apply to any contract for less than $25,000.00. C-6. Continuous Use of Project; Lease or Disposal of Project The Recipient agrees that, except as provided in this Agreement, it will not abandon, substantially discontinue use of, lease, or dispose of the Project or any significant part or portion thereof during the useful life of the Project without prior written approval of the Deputy Director of the Division. Such approval may be conditioned as determined to be appropriate by the Deputy Director of the Division, including a condition requiring repayment of all Grant Funds or any portion of all remaining Grant Funds covered by this Agreement together with accrued interest and any penalty assessments which may be due. C-7. Claims Any claim of the Recipient is limited to the rights, remedies, and claims procedures provided to the Recipient under this Agreement. C-8. Competitive Bidding The Recipient shall adhere to any applicable state law or local ordinance for competitive bidding and applicable labor laws.