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04/08/2013 San Francisco Bay Area. Contractor will be responsible for, and hold City harmless from, any failure to adhere to such standards. Contractor will verify that all activities funded hereunder benefit only residents within City's corporate limits. 6. REPORTS. Contractor will submit reports to the City describing the activities funded under this Agreement to document Contractor's success in meeting the Project objectives referenced in this Agreement. The HOME Project Completion Report and final report will be submitted no later than ninety (90) days after payment is disbursed to Contractor but in no case later than July 15, 2013. The reports will include the total number of direct beneficiaries of the Project with demographic information regarding income, household composition, ethnicity, age and other data as required by City or HUD. 7. FINANCIAL STATEMENT/ANALYSIS� INDEPENDENT AUDIT. Contractor will make available to City, or the public, upon request, a financial statement and analysis (the "Accounting") setting forth in detail the manner in which, and the specific purposes for which, the funds paid by Contractor pursuant to this Agreement were expended to the date of such Accounting. In addition to the foregoing, Contractor will submit to City no later than the end of the Fiscal Year, and upon reasonable written request by the CDBG/HOME Administrator, a copy of the Contractor's Financial Statement and/or Accounting. The Accounting will be submitted with the final report referred to in Paragraph 6. If Contractor receives funding in excess of Five Hundred Thousand Dollars ($500,000) from all sources during the subject Fiscal Year, Contractor will provide City with an independent audit of its activities for the term of this Agreement, conducted in accordance with the Single Audit Act of 1984, as amended, OMB Circular A-110 ATTY/AGR/2013.043/KAINOS-1033 REDWOOD AVE REV:03-28-13 VR Page 4 of 34 RESO.#15256 MUFF#304