Laserfiche WebLink
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 authorized 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 /> during 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 />