Res 1997-076 - Laserfiche WebLink

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- 7°1(- 4.1 The Auctioneer will deduct the payment for its services prior to sending a separate check to the City for its proceeds from the Auction and to the County for its proceeds from the Auction. The amounts of these payments will be in accordance with Section 11.1 of this Agreement, less any disputed amounts, pending resolution thereof. ARTICLE 5 AUCTIONEER'S RECORDS 5.1 All expense records of Auctioneer will be kept on a recognized accounting basis acceptable to both the City and County and will be available to the City and/or County or the City and/or County's authorized representative at mutually convenient times. 5.2 The Auctioneer will furnish to the City or County at such time and in such form as the City or County may require, financial statements including audited financial statements, records, reports, data and information, as the City or County may request pertaining to the matters covered under this Agreement. ARTICLE 6 OWNERSHIP AND USE OF DOCUMENTS 6.1 All documents and other information prepared by the Auctioneer for the City in conjunction with each auction will become the City's property. All documents and other information prepared by the Auctioneer for the County in conjunction with each auction will become the County's property. ARTICLE 7 TERM OF AGREEMENT 7.1 The term of this Agreement begins on the date established on page one of this Agreement, and will continue for one year effective May 15, 1997 through May 14, 1998. The first auction conducted under this Agreement will be held on July 31, 1997 at the Hays County Civic Center. Any future auction dates and locations will be coordinated between the Auctioneer and the City and County. 7.2 This agreement may be terminated at will by the City as to its contractual obligations or the County as to its contractual obligations upon at least 30 days prior written notice to the Auctioneer and the other party. 7.3 This Agreement may be extended for two (2) additional one (1) year periods, provided all terms and conditions will remain in full force and effect for the contract period being extended. This option, if exercised, is to be executed as a joint letter of agreement, to be issued no sooner than ninety (90) days prior to expiration of this Agreement, nor later than the final day of the contract period. This option to extend will require the mutual 7