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III. PAYMENT <br />Upon execution of this Agreement and receipt of associated invoicing, the <br />Company shall make equal semi-annual advances to the County as <br />described in Exhibit A. Expenditures by the County shall be based upon <br />the approved budget attached hereto and incorporated herein. <br />IV. TITLE TO EQUIPMENT <br />Any equipment purchased by the County under this Agreement shall be <br />the property of the County This equipment is to be used for the activities <br />described herein for the term of this Agreement and subsequent <br />agreements between the parties. Upon termination of the agreements <br />and cessation of the County s activities, the equipment will remain the <br />property of the County. <br />V. INTEREST <br />The unexpended portion of advance payments to the County shall be <br />invested in an interest bearing account in accordance with applicable <br />county regulations, if any. At the end of the term agreement period, the <br />County shall either refund all unexpended funds to Company or reflect all <br />remaining interest earned as funds carried forward and apply such funds <br />to any additional term of this agreement, as appropriate. <br />VI. AUDIT <br />A. The County shall (at any time during normal business hours and <br />with five business days advance notification) make available for <br />examination, to the Company and any of its duly authorized <br />representatives, all of the records and data with respect to all <br />matters covered by this Agreement. The County shall permit the <br />Company and its designated authonzed representatives to audit <br />and inspect all costs and supporting documentation for all matters <br />covered by this Agreement. The County shall provide an annual <br />audited financial statement at the end of the Agreement period. <br />B The County shall retain all financial records, supporting documents, <br />statistical records, and any other documents pertinent to this <br />Agreement for a period of three years after the date of submission <br />of the final expenditure report. Or, if an audit has been initiated <br />dunng the term of this Agreement and audit findings have not been <br />resolved, the records shall be retained until resolution of the audit <br />findings. In addition, the County shall maintain time and <br />attendance records for all salary costs charged to this Agreement. <br />2 <br />