Agmt07 CDBG Rebuilding Together Peninsula

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audits. Annual audits will be submitted to City with the Report referred to in Paragraph 6. 8. CITY AUDIT; MONITORING. City may audit the records and accounts of Contractor for the purpose of verifying expenditures by Contractor of funds provided by City pursuant to this Agreement or verifying statements or analyses made or provided by Contractor under this Agreement. Contractor will promptly respond to, and comply with, any audit exception made or taken by City or appropriate federal agencies relating to Contractor's performance or failure to perform under this Agreement. Contractor will, upon demand by City, pay City the full amount owing to City or to the United States Government as a result of any such audit exception. City will monitor Contractor's Project and expenditures made pursuant to this Agreement quarterly to verify Contractor's compliance with this Agreement and local federal contract requirements. Contractor shall cooperate with City and provide all documents and information requested by City in a timely and accurate fashion. 9. TERMINATION. Either party may terminate this Agreement without cause at any time during the term hereof by giving the other party not less than thirty (30) days prior written notice of such termination. In the event of such termination, Contractor will submit a final invoice for any expenditure incurred up to and including the date of termination. Contractor will submit to City a final report of activities funded hereunder within thirty (30) days after the date of termination. Notwithstanding the foregoing, City may terminate this Agreement, by giving Contractor not less than five (5) days prior written notice, upon the occurrence of any of the following: (a) Federal Community Development Block Grant funds cease, for any reason, to be available to City; or A TTY/AGR/2007.081 092107 4