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w <br /> 4 PAYMENTS Contractor shall keep detatled and accurate records of all expenddures <br /> made and expenses mcurred 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 Fundmg Agreement is <br /> fully signed and executed <br /> 5 STANDARD OF SERVICE Contractor warrants to City that it will perform ail Program <br /> activities funded hereunder in accordance with the highest standards and shall be responsibie 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 /> hmds <br /> 6 6 MONTH PROGRESS REPORT. ANNUAL REPORT Contractor shall submit to City's <br /> Human Services Manager a 6 month program progress repoR and an annual program report <br /> document�ng Contractor's success m meetmg the Program ob�ectives referenced in paragraph 2 The 6 <br /> month progress report is due on January 31, 2012 and the annual program report is due on July 31'�, <br /> 2012 If Contractor shall fail to submit either of their reports on a timely basis, City may disqualify agency <br /> from applying for future funding <br /> Said reports shall also include an expenditure report and the total number of direct benefiaaries <br /> with demographic information regarding mcome, household composition, ethnicity, age and other data as <br /> reqwred 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 return by check to the City of Redwood City the <br /> amount not spent <br /> 7 FINANCIAL STATEMENT/ANALYSIS. AUDIT Contractor shall make available to C�ty, or <br /> the public, upon request, a finanaal statement and analysis setting forth in detail the manner in which, <br /> and the specific 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 submit to City no later than <br /> July 31, 2012, a copy of the agency or program's financial statement Said statement will be submitted <br /> with the end of the year annuat report pursuant to section 6 <br /> ATTY/AGRI2011 1101 HSFA (CORA) <br /> 101417 <br /> 2 <br />