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ARTICLE 5 <br />CONTRACTOR'S RECORDS <br /> <br />5.1 All expense records of Contractor will be kept on a recognized accounting basis acceptable <br />to the City and will be available to the City at mutually convenient times. <br /> <br />5.2 The City, its auditors, federal auditors, and state agencies that have monitoring or auditing <br />responsibilities for this Agreement will have access to anybooks, documents, papers and records of <br />the Contractor which are directly pertinent to this Agreement for the purpose of making audit, <br />examination, excerpts, copying and transcriptions. <br /> <br />5.3 The Contractor will furnish to the City at such time and in such form as the City may require, <br />financial statements including audited fmancial statements, records, reports, data and information, <br />as the City may request pertaining to the matter covered by this Agreement. <br /> <br /> ARTICLE 6 <br />OWNERSHIP AND USE OF DOCUMENTS <br /> <br />6.1 The Contractor will retain all of its records and supporting documentation relating to this <br />Agreement, and not delivered to the City, for a period of three years except in the event that the <br />Contractor goes out of business during that period, it will turn over to the City, all of its records <br />relating to the Project for retention by the City. <br /> <br /> ARTICLE 7 <br />TERM OF AGREEMENT <br /> <br />7.1 The term of this Agreement begins upon its execution by both parties and will continue for <br />one year from the date of execution. This agreement will automatically extend for three additional <br />one year periods, provided that all terms and conditions of this Agreement remain in full force and <br />effect except for extension or price re-determinations which will be accomplished by a Change in <br />Service authorization a s stipulated i n Section 1.10 unless t his Agreement i s terminated under <br />Sections 7.2 or 7.3 below. Any proposed Contractor rate changes will be negotiated as part of the <br />Agreement extension process. <br /> <br />7.2 This Agreement may be terminated by either party upon 30 days prior written notice should <br />the other party fail substantially to perform in accordance with its terms through no fault of the party <br />initiating the termination. <br /> <br />7.3 This Agreement may be terminated at will by the City upon at least 30 days prior written <br />notice to the Contractor. <br /> <br />7.4 In the event of termination as provided in this Article, the Contractor will be compensated <br />for all services performed to termination date which are deemed by the City to be in accordance with <br /> <br />6 <br /> <br /> <br />