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<br />B. All funds received by LACCSA from City pursuant to this Agreement shall be <br />separately accounted for apart from any other funds of LACCSA, or of any principal or <br />member of LACCSA. LACCSA agrees that if LACCSA at the City's sole discretion, <br />City may require an audit of LACCSA conducted by a certified public accountant. <br />LACCSA shall keep records of all funds received from City under the terms and <br />conditions of this Agreement. City and/or their representatives shall have access for <br />purposes of monitoring, auditing, and cxamining LACCSA's activities and performance, to <br />books, documents and papers, and the right to examine records of LACCSA's <br />subcontractors, bookkeepers and accountants, employees and participants in regard to said <br />promotions program. <br /> <br />C. LACCSA acknowledges and warrants that it shall at all times comply with the <br />laws, regulations and policies governing the use of BID funds, ineluding 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 budget(s). LACCSA agrees to and shall indemnify and hold <br />harmless the City, its officers, agents, employees from any violation of BID law that <br />occurs as result of failure to comply with the terms of this agreement or BID law. <br /> <br />D. LACCSA 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. LACCSA agrees that if LACCSA violates any of the terms and conditions of this <br />Agreement whereby BID funds were received by LACCSA, or if LACCSA reports <br />inaccurately, or if on audit there is a disallowance of certain expenditures, LACCSA agrees <br />to remedy the acts or omissions causing the disallowance or repay City all amounts spent in <br />violation thereof. <br /> <br />II. CITY'S OBLIGA nONS <br /> <br />Upon execution of this Agreement, City shall provide $27,300.00 to LACCSA from the <br />2004-2005 annual BID assessment, and $46,340.31 from 2003 and 2004 "Fiestas revenue" <br />up to a maximum aggregate payment of $73, 640.31 to be used for the 2004-2005 <br />promotional program. <br /> <br />III. TERM <br /> <br />11/ <br />11/ <br />11/ <br />11/ <br /> <br /> <br />This agreement shall terminate on July I, 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 />