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<br />, <br /> <br />B. The Funds, and any interest earned by Calle Cuatro on the Funds, shall be <br />separately accounted for apart from any other funds of Calle Cuatro, or of any principal <br />or member of Calle Cuatro. Calle Cuatro shall, on February 1,2007 and August 1,2007 <br />provide City with an accounting of the use of the Funds that shall, at a minimum, <br />incorporate copies of all invoices, canceled checks, chart of accounts and bank statements <br />detailing how the Funds have been used and maintained by Calle Cuatro. Calle Cuatro <br />agrees that, at the City's sole discretion, City may require an audit of Calle Cuatro <br />conducted by a City designated accountant. Calle Cuatro shall keep records of all funds <br />received from City under the terms and conditions of this Agreement. City and/or their <br />representatives shall have access for purposes of monitoring, auditing, and examining Calle <br />Cuatro's activities and performance, to books, documents and papers, and the right to <br />examine records of Calle Cuatro' s subcontractors, bookkeepers and accountants, employees <br />and participants in regard to said promotions program. <br /> <br />C. Calle Cuatro 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. al. as well as the Downtown Santa Ana BID implementation <br />ordinance, resolution(s) and/or budget(s). Calle Cuatro agrees to and shall indemnify and <br />hold 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. Calle Cuatro 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. Calle Cuatro agrees that if Calle Cuatro violates any of the terms and conditions of <br />this Agreement whereby BID funds were received by Calle Cuatro, or if Calle Cuatro <br />reports inaccurately, or if on audit there is a disallowance of certain expenditures, Calle <br />Cuatro agrees to remedy the acts or omissions causing the disallowance or repay City all <br />amounts spent in violation thereof. <br /> <br />F. Calle Cuatro agrees to provide City, within sixty (60) days of the effective date of <br />this Agreement, with its current articles or incorporation and bylaws. <br /> <br />III. TERM <br /> <br />This agreement shall terminate on August I, 2007, unless extended by mutual written <br />consent of the parties. Any extension shall be in writing, and executed by the Executive <br />Director ofthe Community Development Agency and City Attorney.0 <br />IV. NOTICES <br /> <br />Notices to the parties shall, unless otherwise requested in writing, be sent by U.S. Mail, <br />postage prepaid, and addressed as follows: <br /> <br />2 <br />