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f <br /> 1 <br /> 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 /> vim 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 />