Res 2012-107 - Laserfiche WebLink

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5.1 The Agency will keep all of its expense records in a recognized accounting format acceptable to the City and these records will be available to the City at mutually convenient times. 5.2 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 the Agency which are directly pertinent to this Agreement for the purpose of making audit, examination, excerpts, copying and transcriptions. 5.3 The Agency will furnish to the City at such time and in such form as the City may require, financial statements including 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 prepared by the Agency in connection with this Agreement are the property of the City. 6.2 The Agency 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 from completion of its Services except in the event that the Agency 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 7 TERM; TERMINATION 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 (2) additional one (1) year terms upon approval of the City provided that all terms and conditions, except for the contract period being extended, remain 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 in accordance with Section 2.2 and will be issued no sooner than 120 days prior to the expiration of this Agreement, and not later than the final day of the final term. The decision to renew this 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 calendar 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 The City may terminate this Agreement for convenience and without cause upon at least Credit Systems International 2012 8