Res 2006-194 - Laserfiche WebLink

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making audit, examination, excerpts, copying and transcnptIons. These audits will be conducted for the purpose of verifying collection activity and financial recovery of City accounts. 5.3 The Consultant 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 6 OWNERSHIP AND USE OF DOCUMENTS 6.1 All documents provided by the Consultant in connection with this Agreement will become the property of the City. 6.2 The Consultant will retain all of its records and supporting documentation relating to this Agreement, and not delivered to the City, for a period of four years except in the event that the Consultant goes out of business during that period, it will turn over, to the City, all of its records relating to its services under this Agreement for retention by the City. ARTICLE 7 TERM OF AGREEMENT 7.1 The term of this Agreement begins on the effective date established in the first paragraph of the Agreement and will continue for a period of three years. This Agreement may be extended for two additional one year terms upon approval of the City provided all terms and conditions, except for the contract period being extended, remain unchanged and in full force and effect. If this renewal option is exercised it will be executed in the form of an Authorization in Change of Services Form, to be issued not sooner than 120 days prior to the expiration of this Agreement, and not later than the final day of the Agreement period. The decision to renew this Agreement will be at the sole discretion of the City. Refusal by the City to exercise this renewal option will require this Agreement to expire on the original or mutually agreed upon 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 years. 7.2 This Agreement may be terminated by either party upon 15 days prior written notice should the other party fail substantially to perform in accordance with its terms through no fault of the party initiating the termination. 7.3 This Agreement may be terminated at will by the City upon at least 15 days prior written notice to the Consultant. 7.4 In the event of termination as provided in this Article, the Consultant will be compensated for all services performed to termination date which are deemed by the City to be in accordance with this Agreement. This amount will be paid by the City upon the Consultant's delivering to the City all information and materials developed or accumulated by the Consultant 5