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4. The Agency shall provide an Annual Audit Report to the City of Concord <br />performed in compliance with Office of Management and Budget Circular A- <br />133. <br />G. FINANCIAL ACCOUNTING <br />The Agency shall establish and maintain fiscal and accounting records in <br />Accordance with generally accepted accounting principles and practices. <br />2. The Agency shall not commingle accounts to an extent that prevents the <br />Accounting and auditing of the funds provided hereunder: provided, however, <br />the Agency may supplement the funds provided hereunder from other fund <br />sources. <br />3. Funds provided hereunder are exclusively for the purposes of this agreement <br />under the terms and conditions of the agreement, and the Agency shall not <br />temporarily or permanently shift such funds to other programs or utilize for <br />other purposes for any reason. <br />H. INSURANCE AND LIABILITY: <br />The Agency's chief financial officer or insurer shall ensure that all persons handling <br />funds received or disbursed under this Agreement are covered by fidelity insurance in <br />an amount consistent with sound fiscal practice. <br />Work to be performed as provided herein shall be done by the Agency as an <br />Independent Contractor. The City shall not be liable for claims for damages or losses <br />arising out of the performance of this Agreement by the Agency, its employees, <br />officers or agents and the Agency shall indemnify and hold harmless the City, its <br />officers, agents and employees from all such claims arising under this agreement. <br />I. RESIDENT ECONOMIC OPPORTUNITY: <br />The Agency shall take affirmative action to ensure that residents of the project <br />area are given maximum opportunity for training, employment and business <br />opportunities. <br />2. When qualified applicants are available, preference shall be given to residents <br />of the project area in filling all training, business opportunities and jobs <br />generated by the Program even where employment results outside the <br />geographic boundary of the project area. <br />J. PUBLICITY: <br />The Agency shall make every effort in its publicity and in other ways, to fully inform <br />the public concerning the Project. Any publicity given to the Project must recognize <br />the Cabarrus/Iredell/Rowan HOME Consortium as the sponsor and the Project being <br />funded by HUD through the HOME Investment Partnership Program. The City will, in <br />-3 <br />