Res 2000-070 - Laserfiche WebLink

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of all transactions relating to the receipts, disbursements, deposits, withdrawals and transfers 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 Norwest which are directly pertinent to this Agreement for the purpose of making audit, examination, excerpts, copying and transcriptions. 6.3 Norwest will furnish to the City at such time and in such form as the City may require, financial statements including audited financial statements, quarterly FDIC call reports, 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 Norwest for the City in connection with this Agreement will become the property of the City. 7.2 Norwest 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 Norwest 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 on April 1, 2000 and will continue for a period of three years until March 31, 2003. This Agreeme'nt may be extended for two additional one- year periods upon approval of the City of San Marcos City Council provided all terms and conditions, except for the contract period being extended, remain unchanged and in full force and effect. The contract price for any renewal period will be adjusted in a percentage amount equal to the net percentage change from the previous year in the Consumer Price Index for all Urban Consumers (CPI-U) for the U. S. City Average for all Items, 1982-84 = 100 Dallas-Ft. Worth Region. 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, not 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 may not exceed a maximum combined period of five (5) years, unless this Agreement is terminated in compliance with the provisions of this Article. 12