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B. The BID Funds shall be separately accounted for apart from any other funds of DI, or <br />of any principal or member of DI. Following the end of a fiscal year, DI shall <br />provide City with an accounting of the use of the BID Funds that shall, at a minimum, <br />incorporate copies of all invoices, canceled checks, chart of accounts and bank <br />statements detailing how the BID Funds have been used and maintained by DI. DI <br />agrees that, at the City's sole discretion, City may require an audit of DI conducted by <br />a City designated accountant. DI shall keep records of all funds received from City <br />under the terms and conditions of this Agreement. City and/or their representatives <br />shall have access for purposes of monitoring, auditing, and examining DI's activities <br />and performance, to books, documents and papers, and the right to examine records of <br />DI's subcontractors, bookkeepers and accountants, employees and participants in regard <br />to said promotions program. <br />C. DI acknowledges and warrants that it shall at all times comply with the laws, <br />regulations and policies governing the use of BID funds, including but not limited to, <br />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). DI 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 />D. DI agrees that the performance of obligations hereunder are rendered in its capacity as <br />an independent contractor and that it is in no way an agency of City. <br />E. DI agrees that if DI violates any of the terms and conditions of this Agreement whereby <br />BID funds were received by DI, or if DI reports inaccurately, or if on audit there is a <br />disallowance of certain expenditures, DI agrees to remedy the acts or omissions causing <br />the disallowance or repay City all amounts spent in violation thereof. <br />RMENNEWITLYPI <br />This Agreement shall terminate on the earlier of June 30, 2011 or when all funds have been <br />expended. Any extension shall be in writing, and may be approved by the Deputy Manager for <br />Development Services and City Attorney. <br />4. NOTICES <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 />2 <br />