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<br />Page 5 <br /> <br />V. <br />RECORDS <br /> <br />A. EDC and Chamber agree to provide access to an authorized <br />representative of City to their financial records pertaining to <br />performance under this contract during reasonable working hours. <br />B. EDC and Chamber agree to maintain financial portions of <br /> <br />these records in accordance with generally accepted accounting <br /> <br />principles. <br /> <br />C. EDC and Chamber agree to retain the records for one year <br /> <br />after termination of this contract. <br /> <br />D. EDC and Chamber agree to submit to the City an annual <br /> <br />financial report and an audit prepared by a certified public <br /> <br />accountant. <br /> <br />VI. <br /> <br />A. The term of this Agreement shall commence and become <br /> <br />effective on October 1, 1992, and shall terminate one year after <br /> <br />that date. <br /> <br />VII. <br /> <br />The Chamber shall keep its equipment, supplies, vehicles and <br />other assets separate from those purchased with EDC funds and to be <br /> <br />used in the performance of this Agreement. The latter shall be <br /> <br />inventoried and identified as property of the EDC. Inventory lists <br /> <br />shall be provided by the Chamber to the EDC and the City. <br /> <br />Subsequently acquired assets of this nature shall be similarly <br /> <br />separated from Chamber assets, inventoried and identified. <br />