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<br />B. All funds received by DSABC from City pursuant to this Agreement shall be <br />separately accounted for apart from any other funds of DSABC, or of any principal or <br />member of DSABC. DSABC agrees that if DSABC at the City's sole discretion, City <br />may require an audit of DSABC conducted by a certified public accountant. DSABC <br />shall keep records of all funds received from City under the terms and conditions of this <br />Agreement. City and/or their representatives shall have access for purposes of monitoring, <br />auditing, and examining DSABC's activities and performance, to books, documents and <br />papers, and the right to examine records of DSABC's subcontractors, bookkeepers and <br />accountants, employees and participants in regard to said promotions program. <br /> <br />C. DSABC acknowledges and warrants that it shall at all times comply with the <br />laws, regulations and policies governing the use of BID funds, including but not limited <br />to, the limitations on use of BID funds set forth in California Streets and Highways Code <br />sections 36000 et.a\. as well as the Downtown Santa Ana BID implementation ordinance, <br />resolution(s) and/or budgte(s). DSABC agrees to and shall indemnify and hold harmless <br />the City, its officers, agents, employees from any violation of BID law that occurs as <br />result of failure to comply with the terms ofthis agreement or BID law. <br /> <br />D. DSABC agrees that the performance of obligations hereunder are rendered in its <br />capacity as an independent contractor and that it is in no way an agency of City. <br /> <br />E. DSABC agrees that if DSABC violates any of the terms and conditions of this <br />Agreement whereby BID funds were received by DSABC, or if DSABC reports <br />inaccurately, or if on audit there is a disallowance of certain expenditures, DSABC agrees to <br />remedy the acts or omissions causing the disallowance or repay City all amounts spent in <br />violation thereof. <br /> <br />II. CITY'S OBLIGATIONS <br /> <br />Upon execution of this Agreement, City shall provide $25,200.00 to DSABC from the <br />2004-2005 annual BID assessment, and $42,775.67 from 2003 and 2004 "Fiestas revenue" <br />up to a maximum aggregate payment of $67, 975.67 to be used for the 2004-2005 <br />promotional program. <br /> <br />III. TERM <br /> <br />/1/ <br />/1/ <br />/1/ <br />//1 <br /> <br />This agreement shall terminate on July 1, 2006, unless extended by mutual written consent <br />of the parties. Any extension shall be in writing, and executed by the Executive Director of <br />the Community Development Agency and City Attorney. <br /> <br />Page 2 of 5 <br />