Resolution 2006-22 - Laserfiche WebLink

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I Rcdlinc Draft April 28. 2006 Showing Changes to Draft uuted April 13, 2006 For Discussion Purposes Only CCTV's board of directors; and (d) year-end financial statements prepared in accordance vvith generally accepted accounting practices. I SECTION 21-1-9. RECORDS, FISCAL AUDIT. CCTV shall maintain all necessary books and records, in accordance\vith generally accepted accounting principles, Upon reasonable request from City, CCTV shall, at any time during normal business hours, make available all of its records with respect to all matters covered by this Agreement. CCTV shall prepare (or have prepared) and submit to the City a fiscal audit by a certified public accountant, at least every three (3) years. I SECTION 229. TERMINATION OF AGREEMENT: TRANSFER OF ASSETS. A. TERMINA TION FOR CAUSE. The City shall have the right upon ninety (90) days 'written notice to CCTV to terminate this Agreement for (a) breach of any provision of this Agreement by CCTV; (b) malfeasance, misfeasance, misappropriation of public funds; or (c) loss, suspension or revocation of nonprofit corporation status by CCTV. CCTV may avoid termination by curing any such breach to the satisfaction of the City within ninety (90) days of notification or vvithin a time frame agreed to by the City and CCTV. The ninety (90) day notice and cure period under this subsection A shall run concunently. B. TERMINA TION FOR CONVENIENCE. In addition to termination for cause, this Agreement may be terminated by the City for its convenience and without cause of any nature by giving v\Titten notice at one hundred and eighty (180) days in advance of the termination date. C. DUTIES UPON TERMINATION. Upon termination of this Agreement, CCTV I shall immediately transfer to the City any and all Public Access EgYlllment '~l1d any other equipment, real property, fixtures, contracts, leases, deposit accounts or other assets received by or purchased by CCTV with City funds received pursuant to this Agreement. I SECTION 23l. TIME. Time is of the essence in this Agreement and for the performance of all covenants and conditions of this Agreement. I SECTION 242-. COOPERATION. The parties agree that they wiB cooperate \vith one another in accomplishing the tenns, conditions, and provisions of the Agreement, and will execute such additional documents as necessary to effectuate the san1e. I SECTION 25~, APPLICABLE LAW. This Agreement shall be interpreted and enforced under the laws of the State of Colorado. I SECTION 2645. CCTV'S REMEDIES. CCTV agrees that its sole and exclusive remedy for any breach of this Agreement by the City shall be strictly limited to an action for specific 12