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4. PAYMENTS. Contractor shall keep detailed and accurate records of all expenditures <br /> made and expenses incurred which are funded under this agreement. Payments of funds allocated <br /> pursuant to paragraph 1 shall be made to Contractor within 30 calendar days after Funding Agreement is <br /> fully signed and executed. <br /> 5. STANDARD OF SERVICE. Contractor warrants to City that it will perform all Program <br /> activities funded hereunder in accordance with the highest standards and shall be responsible for, and <br /> hold City harmless from any failure to provide such activities in accordance with such standard. <br /> Contractor shall verify that all activities funded hereunder benefit only residents within City's corporate <br /> limits. <br /> 6. 6 MONTH PROGRESS REPORT; ANNUAL REPORT. Contractor shall submit to City's <br /> Human Services Manager a 6 month program progress report and an annual program report documenting <br /> Contractor's success in meeting the Program objectives referenced in paragraph 2. The 6 month <br /> progress report is due on January 31, 2011 and the annual program report is due on July 31 2011. If <br /> Contractor shall fail to submit either of their reports on a timely basis, City may disqualify agency from <br /> applying for future funding. <br /> Said reports shall also include an expenditure report and the total number of direct beneficiaries <br /> with demographic information regarding income, household composition, ethnicity, age and other data as <br /> required by City or the United States Department of Housing and Urban Development and shall be <br /> submitted on forms provided by City's Human Services Manager. In the event that the Contractor has not <br /> expended all of the funds granted, Contractor shall retum by check to the City of Redwood City the <br /> amount not spent. <br /> 7. FINANCIAL STATEMENT /ANALYSIS; AUDIT. Contractor shall make available to City, or <br /> the public, upon request, a financial statement and analysis setting forth in detail the manner in which, and <br /> the specific purposes for which, the funds paid hereunder were expended to the date of such accounting. <br /> In addition to the foregoing, and in any event, Contractor shall submit to City no later than July 31, 2011, a <br /> copy of the agency or program's financial statement. Said statement will be submitted with the end of the <br /> year annual report pursuant to section 6. <br /> ATTY /AGR/2010.102 <br /> 091310 <br /> 2 <br />