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7.1.2.2 Upon ADMINISTRATOR's approval of CONTRACTOR's <br />proposed procurement system, CONTRACTOR shall comply <br />with such procurement system in obtaining subcontracts with a <br />total cost in excess of fifty thousand dollars ($50,000) during the <br />term of this Agreement. In addition, CONTRACTOR shall <br />obtain ADMINISTRATOR's written consent prior to entering <br />into a subcontract with any organization when the total <br />cumulative cost of services to be provided by that organization is <br />anticipated to exceed fifty thousand dollars ($50,000) during the <br />term of this Agreement. <br />7.1.2.3 CONTRACTOR and its subcontractor(s) shall establish and <br />maintain accurate and complete financial records related to <br />services provided under the terms of this Agreement. Such <br />records may be subject to the satisfaction of <br />ADMINISTRATOR, and to the examination and audit by <br />ADMINISTRATOR or designee, for a period of five (5) years, <br />or until any pending audit is completed. <br />8. FORM OF BUSINESS ORGANIZATION/NAME CHANGE <br />8.1 Form of Business Organization <br />Upon the request of ADMINISTRATOR, CONTRACTOR shall prepare and <br />submit, within thirty (30) days thereafter, an affidavit executed by persons <br />satisfactory to ADMINISTRATOR, containing, but not limited to, the following <br />information: <br />8.1.1 The form of CONTRACTOR's business organization, i.e., proprietorship, <br />partnership, corporation, etc. <br />8.1.2 A detailed statement indicating the relationship of CONTRACTOR, by <br />way of ownership or otherwise, to any parent organization or individual. <br />8.1.3 A detailed statement indicating the relationship of CONTRACTOR to any <br />subsidiary business organization or to any individual who may be <br />providing services, supplies, material, or equipment to CONTRACTOR <br />or in any manner does business with CONTRACTOR under this <br />WDGltf 51buncil Page 8 of26 — 10 3M&2022022 <br />