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industrial development, constructing industrial buildings, or rendering financial or <br /> managerial assistance to businesses and industries; and furnish advice and assistance to <br /> such corporations or associations. <br /> <br /> 2. In furtherance of its economic development program, Economic Development <br /> Corporation may employ full and part time staff including a manager or economic <br /> developer, a secretary, and other personnel, purchase, rent, or lease an office"and furnish <br /> the same, and secure the services of accountants, attorneys, consultants, and other~. <br /> <br /> 3. The Economic Development Corporation is authorized to expend the funds <br /> provided by Cabarms County for any or all of the uses and purposes set forth in the <br /> budget of the Economic Development Corporation which is attached to this Agreement <br /> as Exhibit "A". <br /> <br /> 4. The County shall allocate and pay to Economic Development Corporation <br /> eleven (11) monthly payments of $5,208.91 each and one (1) monthly payment of <br /> $5,208.99, commencing July 1989, for a total of $62,507.00, with each payment to be <br /> made on or about the last day of each month. <br /> <br /> 5. Economic Development Corporation will undergo an audit of its operations <br /> conducted by a Certified Public Accountant' and will submit a copy of the report of this <br /> audit to the County within ninety (90) days of the conclusion of Economic Development <br /> Corporation's established fiscal year. <br /> <br /> 6. Economic Development Corporation agrees to hold the County harmless for <br />any and all liability, damages or claims, including attorney's fees. that might be asserted <br />or suffered by the County as a result of any act or omission of any of Economic <br />Development Corporation'S officers, employees, agents or representatives arising out of <br />this contract. <br /> <br /> <br />