Res 1995-046 - Laserfiche WebLink

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ß¡V\ -14- C. Upon termination or receipt of notice to terminate, whichever occurs first, the Foundation shall cancel, withdraw, or otherwise terminate any outstanding orders or subcontracts related to the performance of this contract or the part of this contract to be terminated, and shall cease to incur costs thereunder. ' The city --- shall not be liable to the Foundation or to the Foundation's creditors for costs incurred after termination of this contract. D. Notwithstanding any exercise by the city of its right of suspension under Section 17 of this contract or of early termination under this section 18, the Foundation shall not be ,', relieved of any liability to the city for damages due to the city by virtue of any breach of this contract by the Foundation. The city may withhold payments to the Foundation until such time as the exact amount of damages due to the City from the Foundation is agreed upon or is otherwise determined. ~ SECTION 19. AUDIT A. The city is responsible to the Department for the performance of an annual financial and compliance audit of funds received and performances rendered under this contract during the first two years of the contract period. B. The City and the Department reserve the right to conduct an annual financial and compliance audit of funds received and performances rendered by the Foundation under this contract. The Foundation agrees to permit the Department and the City or their authorized representatives to audit the Foundation's rec.ords for the Incubator and to obtain any documents, materials, or information necessary to facilitate any such audit. C. The Foundation understands and agrees that it shall be liable to the City and Department for any costs disallowed pursuant to financial and compliance audit(s) of funds received under this