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3 <br />3.2 CDA Retention. The CDA shall deposit and maintain the funds received <br />under this Agreement in a separate internal account. The CDA shall <br />maintain appropriate records of funds. The CDA shall administer and <br />disburse all LAHA funds in accordance with this Agreement. <br />3.3 Funding Contingency. The CDA’s obligations under this Agreement are <br />specifically contingent upon the disbursement of funds by the State and the <br />City’s transfer of funds to the CDA. <br />3.4 CDA Expenses. Unless allowable as a qualifying project, administrative <br />and salary expenses incurred by the CDA will be paid by the CDA’s special <br />benefit levy and/or program service fees. <br />3.5 The City will not incur any expenses from the CDA administering the <br />program. <br />3.6 If funds are not spent in the time allowed by the State of Minnesota, the <br />funds shall be returned to the City of Hugo. Washington County shall notify <br />the City of Hugo 12 month in advance if the funds are not planned to be <br />spent in time. The City of Hugo and Washington County shall work together <br />on the return of the funds. <br />4. RECORDS AND REPORTS. <br />4.1 Records. The CDA shall maintain complete and accurate records of funds <br />received and all disbursements. <br />4.2 Reports. Unless otherwise mutually agreed by the Parties, the CDA shall <br />prepare an annual update and report of distributed funds to the City <br />concerning progress under the Agreement. <br /> <br />4.3 Access to Records. The CDA agrees to provide the City, the designated <br />auditors, or any of their authorized representatives access to any books, <br />documents, papers, and records of the CDA which are directly pertinent to <br />this Agreement for the purposes of making audits, examinations, excerpts, <br />and transcriptions. <br />4.4 Record Retention. Pursuant to Minnesota Statutes, Section 16C.05, subd.5, <br />Minnesota Statutes, Section 16B.98, subd. 8 and applicable requirements, <br />the CDA shall maintain records under this Agreement for a minimum of six <br />(6) years from the end of this Agreement. <br /> <br />5. INDEMNIFICATION.