Res 2000-027 - Laserfiche WebLink

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made monthly upon presentation of P&A's statement of services rendered or expenses incurred, less any disputed amounts, pending resolution thereof and an Authorization of Change in Services form executed by P&A and the City. ARTICLE 6 P&A'S RECORDS 6.1 P&A will keep a book of records in which complete and correct entries will be made of all transactions relating to the receipts, disbursements, deposits, withdrawals and transfers in the Portfolio and Accounts in accordance with generally accepted accounting principles. Such records shall be available for inspection by the City at all reasonable hours of the business day and during mutually convenient times. 6.2 The City, its auditors, federal auditors, and state agencies that have monitoring or auditing responsibilities for this Agreement will have access to any books, documents, papers and records of P&A which are directly pertinent to this Agreement for the purpose of making audit, examination, excerpts, copying and transcriptions. 6.3 P&A will furnish to the City at such time and in such form as the City may require, financial statements including audited financial statements, records, reports, data and information, as the City may request pertaining to the matters covered by this Agreement. ARTICLE 7 OWNERSHIP AND USE OF DOCUMENTS 7.1 All documents prepared by P&A in connection with this Agreement will become the property of the City. 7.2 P&A will retain all of its records and supporting documentation relating to this Agreement, and not delivered to the City, for a period of three years except in the event that P&A goes out of business during that period, it will turn over, to the City, all of its records relating to the Project for retention by the City. ARTICLE 8 TERM; TERMINATION 8.1 The term of this Agreement begins upon its execution by both parties and will continue for a period of two years. This Agreement may be extended for three additional one-year periods upon approval of the City of San Marcos City Council. If this renewal option is exercised, it shall be executed in the form of an amendment to the Agreement, to be issued not sooner than ninety (90) days prior to the expiration of this Agreement, nor later than the final day of the Agreement period. Refusal by the City to exercise this renewal option will require this Agreement to expire on the original or mutually agreed date. The total period of this Agreement, including all renewals as a result of exercising this option 8