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Contractor's program funded hereunder shall conform to the highest standards <br />providing for programs of similar or like nature in the San Francisco Bay Area. <br />Contractor shall be responsible for, and hold City harmless from, any failure to <br />adhere to such standards. Contractor shall verify that all activities funded <br />hereunder benefit only residents within City's corporate limits. <br /> <br /> 6. Annual Report. Contractor shall submit a narrative report to City <br />annually describing the activities funded under this agreement. Said report shall <br />include the total number of direct beneficiaries with demographic information <br />regarding income, household composition, ethnicity, age, and other data as <br />required by City or the United States Department of Housing and Urban <br />Development and shall be submitted on forms provided by City's Housing <br />Coordinator. <br /> <br /> 7. Financial Statement/Analysis; Monthly Reports; Audit. Contractor <br />shall make available to City, or the public, upon request, a financial statement <br />and analysis setting forth in detail the manner in which, and the specific <br />purposes for which, the funds paid hereunder were expended to the date of such <br />accounting. In addition to the foregoing, and in any event, Contractor shall <br />submit to City no later than July 15, '1998, a detailed financial statement and <br />analysis setting forth the foregoing information. Said statement and analysis <br />may be combined with the annual narrative report submitted pursuant to <br />paragraph 6. <br /> <br /> Contractor shall submit monthly to City's Housing Coordinator a Program <br />analysis and progress report documenting Contractor's success in meeting the <br /> <br />Agreement-3 3 <br />4/27/98 <br /> <br /> <br />