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<br />I <br /> <br />I <br /> <br />I <br /> <br />conduct a performance audit of Chamber activity under this Agreement. <br /> <br />4. RECORDS <br /> <br />A. The Chamber agrees to provide access to an authorized representative of the Chamber's <br />financial records pertaining to performance under this Agreement during reasonable working hours. <br />B. The Chamber agrees to maintain financial portions of these records in accordance with <br />generally accepted accounting principles. <br />C. The Chamber agrees to retain the records for one year after termination of this <br />Agreement. <br />D. The Chamber agrees to submit to the City an annual financial report and an audit prepared <br />by a certified public accountant. <br /> <br />5. TERM <br /> <br />The term of this Agreement shall commence and become effective on October 1,2004, and <br />shall terminate on September 30, 2005. <br /> <br />6. ASSETS <br /> <br />The Chamber shall keep its equipment, supplies, vehicles and other assets separate from <br />those purchased solely with ED Funds and to be used in the performance of this Agreement. The <br />latter shall be inventoried and identified as property of the City. Inventory lists shall be provided by <br />the Chamber to the City. Subsequently acquired assets of this nature shall be similarly separated <br />from Chamber assets, inventoried and identified. <br /> <br />EXECUTED on <br /> <br />September 28 <br /> <br />,2004. <br /> <br />CITY OF SAN MARCOS <br />\\ <br />By: 1.J '~ <br />Dan O'Leary, ty Manager <br /> <br />SAN MARCOS HISPANIC CHAMBER OF COMMERCE <br /> <br />By: <br /> <br />Chair of the Board of Directors <br /> <br />6 <br />