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and college districts regarding the Solid Waste collection regulations contained herein. (i) Waivers: No acquiescence, failure or neglect of either of the contracting parties to insist on strict performance of any or all of the terms hereof shall be considered as or constitute a waiver or any term or condition of this Agreement or any performance required thereunder, or any remedy, damage or other liability arising out of such refusal, neglect or inability to perform at any time. 42. SUBCONTRACTORS AND MANAGEMENT: (a) The CONTRACTOR shall not subcontract this Agreement nor any part hereof without first obtaining the consent of the City Council. (b) CONTRACTOR shall designate the person to be in charge of administering this Agreement. The CITY retains the right to reject said person at any time during the term of this Agreement upon reasonable grounds. Should the CITY require the replacement of any person so designated by CONTRACTOR, the CONTRACTOR shall have thirty (30) days within which to designate, with the CITY'S approval, a new person. (c) The CITY may cancel this Agreement pursuant to Section 35 or in the event of a breach of the covenants in subsections (a) and (b) hereinabove. 43. ACCOUNTING AND AUDITING: (a) The CONTRACTOR shall maintain financial records in accordance with generally accepted accounting principles. (b) CONTRACTOR shall make its records, reports, and methods of accounting available to the CTTY'S designated representative during normal business hours to allow the such person to review and verify the information reported pursuant to this Agreement including, but not limited to, the information reported pursuant to Section 16 hereof, the information reported pursuant to Sections 22 through 25 including, but not limited to, the tonnages reported therein, and the Gross Receipts reported pursuant to Section 10 hereof. (c) CITY shall make its billing records available to CONTRACTOR upon reasonable notice for the purpose of auditing such records. 44. BOND: The CONTRACTOR shall, prior to the initial date of the term of this Agreement, execute and file with the City Clerk a surety bond in the penal sum of Two Million Dollars ($2,000,000.00) conditioned upon the faithful performance of this Agreement by the CONTRACTOR and its subcontractors, if any. Said bond maybe written for a term of one year, and may thereafter be renewed by certificate, provided however, that the CONTRACTOR agrees to maintain such bond or bonds in force for the complete term of this Agreement. 32 25A-40