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4. PAYMENTS. Contractor will keep detailed and accurate records of all <br />expenditures made and expenses incurred which are funded under this Agreement. <br />Payments of funds allocated pursuant to Paragraph 1 will be made to Contractor on a <br />reimbursement basis as follows: (i) Contractor will submit requests for payment to City <br />quarterly on forms provided by City's Human Services Manager; (ii) all requests for <br />payment will be accompanied by receipts or other proof of expenditures. <br /> <br /> 5. STANDARD OF SERVICE. Contractor warrants to City that it will perform <br />all Program activities funded hereunder in accordance with the highest standards and <br />will be responsible for, and hold City harmless from any failure to provide such activities <br />in accordance with such standard. Contractor will verify that all activities funded <br />hereunder benefit only residents within City's corporate limits. <br /> <br /> 6. QUARTERLY REPORTS; ANNUAL REPORT. Contractor will submit to <br />City's Human Services Manager a quarterly Program progress report documenting <br />Contractor's success in meeting the Program objectives referenced in Paragraph 2. <br /> <br />Quarterly reports are due on October 15, January 15, April 15th, and July 30th. If <br /> <br />Contractor fails to submit such quarterly reports on a timely basis, City may withhold <br />payment of funds until all such delinquent reports have been submitted. Lack of <br />submission of quarterly reports on a timely basis may result in a termination of this <br />Agreement and a loss of funding. <br /> <br /> Contractor will submit an annual Program analysis and progress report to City at <br />the end of the fiscal year describing the activities funded under this Agreement. Said <br />report will include the total number of direct beneficiaries with demographic information <br />regarding income, household composition, ethnicity, age and other data as required by <br />City or the United States Department of Housing and Urban Development and will be <br />submitted on forms provided by City's Human Services Manager. The annual report will <br />be submitted no later than July 30, 2003, together with the fourth quarter Program <br />progress report. <br /> <br /> 7. FINANCIAL STATEMENT/ANALYSIS; INDEPENDENT AUDIT. Contractor <br /> <br />will make available to City, or the public, upon request, a financial statement and <br /> 2 <br /> <br /> <br />