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analysis setting forth in detail the manner in which, and the specific purposes for which, <br /> the funds paid hereunder were expended to the date of such accounting. In addition to <br /> the foregoing, and in any event, Contractor will submit to City no later than July 30, <br /> 2003, a copy of the agency or Program's financial statement. Said statement will be <br /> submitted with the end of the year annual report pursuant to Paragraph 6. <br /> <br /> Contractor will provide City with a copy of its most recent independent audit <br /> conducted in accordance with the Single Audit Act of 1984, OMB Circular A-110 <br /> Uniform Requirements for Grant and Other Agreement and generally accepted auditing <br /> standards covering financial and compliance audits. Audit will be submitted to the City <br /> with the end of the year annual report pursuant to Paragraph 6. <br /> <br /> 8. CITY AUDIT; MONITORING. City may audit the records and accounts of <br />Contractor for the purpose of verifying expenditures by Contractor of funds provided <br />hereunder or verifying statements or analyses made or provided by Contractor <br />hereunder. Contractor will respond to, and comply with, any audit exception made or <br />'taken by City relating to Contractor's performance or failure to perform hereunder. <br />Contractor will pay City the full amount owing to City as a result of any such audit <br />exception. <br /> <br /> City will monitor Contractor's Program and expenditures made pursuant to this <br /> Agreement quarterly to verify Contractor's compliance with this Agreement and local <br /> contract requirements. <br /> <br /> 9. TERMINATION. Either party may terminate this Agreement without cause <br /> at any time during the term hereof by giving the other party not less than thirty (30) <br /> days' prior written notice of such termination. In the event of such termination, <br /> Contractor will submit a final invoice for any expenditures incurred to the date of <br /> termination. Contractor will submit to City a final report of activities funded hereunder <br /> within thirty (30) days from the date of termination. <br /> <br /> Notwithstanding the foregoing, City may terminate this Agreement, by giving <br /> Contractor not less than five (5) days' prior written notice, upon the occurrence of any of <br /> <br /> the following: <br /> 3 <br /> <br /> <br />