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The parties, by mutual written agreement,-may terminate.this con- <br />tract at any time. <br />Either party may terminate this contract in the event of a breach_ <br />of the contract by the other party: <br />The City may terminate this contract at any time or for any reason, <br />upon not less than seven days' notice in advance of the termination date. <br />City may terminate this contract immediately upon Artist's failure <br />to have in force any insurance required by this contract. <br />Except as provided in REMEDIES below, in the event of a termina- <br />tion, City shall pay Artist for work performed to the date of termination. <br />REMEDIES. <br />In the event of a termination of this contract by City because of a <br />breach by Artist, City may complete the work either by itself or by contract <br />with other persons, or any combination thereof._ Artist shall be liable to <br />City for any costs or losses incurred by City arising out of or related to <br />the breach, including costs incurred in selecting other contractors, time-de- <br />lay losses, attorney fees and the like, less the remaining unpaid balance of <br />the consideration provided in this contract. City may withhold payment of <br />sums due Aratist for work performed to the date of termination until City's <br />costs and losses have been determined, at which time City may offset any such <br />amount~due Artist against the costs and losses incurred by City. <br />The foregoing remedies provided to City for breach of this contract <br />by Artist shall not be exclusive. City shall be entitled to exercise any one <br />or more other legal or equitable remedies available because of Artist's <br />breach. <br />In the event of breach of this contract by-City,;Artist's remedy <br />shall be limited to termination of this contract and payment for work per- <br />formed to the date of termination. <br />RECORDS/INSPECTION. Artist-shall maintain records of its charges to <br />City under this contract for a period of not less than three full fiscal <br />years of Artist following completion of this contract. Upon reasonable <br />advance notice, City or its authori.zed representatives-may from time to time <br />inspect, audit and make copies of any of Artist's records that relate to this <br />contract. If any audit by City discloses that payments to the Artist were in <br />excess of the amount to which Artist was entitled under this contract, Artist <br />shall promptly pay to City the amount of such excess. If the~excess is <br />greater than one percent of the contract amount, Artist shall also reimburse <br />City its.reasonable costs incurred in performing the audit. <br />INDEMNIFICATION. Artist shall indemni.fy and hold City,~its officers, <br />agents and employees, harmless from and against any and all claims; actions, - <br />liabilities, costs, including costs of defense, arising out of or in any way <br />related to the work or other actions or failure to act~by Artist and Artist's <br />employees, agents, officers and contractor.s. - In the event`any such action or <br />Personal Services Contract - 2 ~ <br />