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Contractor receiving funding in excess of $300,000 shall provide City with an <br />independent audit of its activities for the term of this Agreement, conducted in accordance <br />with the Single Audit Act of 1984, OMB Circular A-110 Uniform Requirements for <br />Grants and Other Agreements and generally accepted auditing standards covering financial <br />and compliance audits. Annual audits shall be forwarded to City within 30 days of <br />completion. <br /> <br /> 8. Termination. Either party may terminate this Agreement without cause at any <br />time during the term hereof by giving the other party not less than thirty (30) days prior <br />written notice of such termination. In the event of such termination, Contractor shall <br />submit a final invoice for any unreimbursed expenditures (less offsetting income in <br />accordance with paragraph 4) incurred to the date oftemdnation. Contractor shall submit <br />to City a final report of activities funded hereunder within thirty (30) days from the date of <br />termination. <br /> <br /> Notwithstanding the foregoing, City may terminate this Agreement upon the <br />occurrence of either of the following: <br /> <br /> (a) Federal Community Development Block Grant funds cease, for <br /> <br /> any reason, to be available to City; or <br /> <br /> (b) 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 /> and B. <br /> <br /> In either of the foregoing circumstances, City shall give Contractor not less than <br />five (5) days prior written notice of termination. <br /> <br /> 4 <br />Agmt-YFA <br />PS 984)10 <br />8/14/98 <br /> <br /> <br />