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SECTION 14. TERMINATION. <br /> A. Either Party may terminate this Agreement for the other Party's default by giving <br /> the defaulting Party notice of termination if either Party defaults under any obligation under this <br /> Agreement and, after written notice is given by the other Party specifying the default, the <br /> defaulting Party fails either to immediately commence to cure the default,or to complete the cure <br /> expeditiously but in all events within thirty (30) days after the default notice is given. The City <br /> may terminate this Agreement by giving notice of termination to the Nonprofit if Nonprofit <br /> abandons the Premises for a period of one hundred twenty (120)consecutive days. <br /> B. In the event that in any year of this Agreement City Council determines there are <br /> not sufficient funds available in the budget for the City's portion of building maintenance and <br /> repair or any other obligation under this Agreement, the City may terminate this Agreement by <br /> providing the Nonprofit with one hundred eighty (180) days-notice of the termination. <br /> C. Failure of the Nonprofit to comply with any term or condition of this Agreement, <br /> including, but not limited to failure to maintain the Premises as required in Section 5a above, <br /> failure to submit required reports, or failure to provide services as set forth in Exhibit B shall <br /> constitute a default under this Agreement. <br /> D. In the event the Nonprofit has a funding agreement from the City and the funding <br /> agreement is terminated by the City for default by the Nonprofit, the City may terminate this <br /> Agreement with thirty(30) days-notice to the Nonprofit. <br /> SECTION 15. REPORTS. <br /> A. The Nonprofit agrees to provide quarterly reports as required by the City relating to its <br /> performance and expenditures of funds under the terms of this Contract. Quarterly reports are <br /> due by the 15th of the month following the end of each quarter with the first of these reports <br /> being due on or prior to July 15, 2025,for the period from April 1, 2025 through June 30, 2025. <br /> ("Report I"). The City of San Marcos requires that detailed records be kept related to staffing, <br /> staffing compensation and hours of operation along with attendance dOCuments related to visitors <br /> of the Nonprofit._ <br /> B. As clarification, reports will be for the following periods: <br /> October 1,2025 through December 31,2025 (Report#1) <br /> January 1,2026 through March 31,2026 (Report#2) <br /> April 1,2026 through June 30,2026(Report#3) <br /> July 1,2026 through September 30,2026 (Report#4) <br /> C. Quarterly report documents required: <br /> . Provide a report demonstrating the provision of services as set out in Exhibit`B." <br /> 2. Income statement (profit-and-loss statement) - organization's revenue, expenses <br /> and profitability—budget vs actual <br />