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COOPERATIVE AGREEMENT NO. C-1-2447 <br />1 ARTICLE 8. AUDIT AND INSPECTION <br />2 CITY shall maintain a complete set of records in accordance with generally accepted <br />3 accounting principles. Upon reasonable notice, CITY shall permit the authorized representatives of <br />4 AUTHORITY to inspect and audit all work, materials, payroll, books, accounts and other data and <br />s records of CITY for a period of four (4) years after final payment, or until any on-going audit is <br />6 completed. AUTHORITY shall also have the right to reproduce any such books, records and <br />7 accounts. Contracts with CITY's contractors shall include the above provision with respect to audits. <br />8 ARTICLE 9. ADDITIONAL PROVISIONS <br />9 All parties agree to the following mutual responsibilities regarding PROJECT: <br />10 A. Term of Agreement: This Agreement shall continue in full force and effect through <br />11 October 31, 2014. This Agreement may only be extended upon mutual agreement by both parties. <br />12 B. Termination: Either party may initiate proceedings to terminate this Agreement by <br />13 giving thirty (30) days written notice; however, this Agreement shall not be terminated without mutual <br />14 agreement of both parties. <br />15 C. Compliance: AUTHORITY and CITY shall comply with all applicable federal, state, <br />16 and local laws, statutes, ordinances, and regulations of any governmental authority having <br />17 jurisdiction over the PROJECT. <br />18 D. Legal Authority: AUTHORITY and CITY hereto consent that they are authorized to <br />19 execute this Agreement on behalf of said parties and that, by so executing this Agreement, the <br />20 parties hereto are formally bound to the provisions of this Agreement. <br />21 E. Amendments: This Agreement may be amended in writing at any time by the mutual <br />22 consent of both parties. No amendment shall have any force or effect unless executed in writing by <br />23 both parties. <br />24 F. Notices: All notices hereunder and communications regarding the interpretation of the <br />25 terms of this Agreement, or changes thereto, shall be effected by delivery of said notices in person <br />26 or by depositing said notices in the U.S. mail, registered, or certified mail and addressed as follows: <br />Page 10 of 13 <br />L:XCAMM1CLERICALIWORDPROC%AGREE%AG 12447. DOCX