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§ 2.05 Inspection and Audit <br />City shall be entitled, during the term of this Agreement and for a period of one year <br />following the termination, to: <br />(a) inspect and examine all of SABC's books, statements, records, and supporting documents <br />to ascertain the correctness of SABC's financial statements. Any such inspection and/or examination <br />shall be conducted during normal business hours with prior 15 days written notice to SABC; and <br />(b) inspect and examine each expense made by SABC to ascertain that all expenses are for <br />the purposes identified in the Downtown Enhancements and Parking Modernization Plan, and that <br />all expenses are sufficiently documented by receipts, purchase invoices, or other permanent <br />evidences of expenditure in accordance with Generally Accepted Accounting Principles and <br />established City accounting procedures. Any such inspection and/or examination shall be conducted <br />during normal business hours with prior 15 days written notice to SABC. <br />ARTICLE 3 <br />INDEMNITY AND INSURANCE <br />§ 3.01 Indemnification <br />SABC shall indemnify and save harmless City and its officers, agents and employees from <br />and against any and all claims, demands, loss or liability of any kind or nature which City or its <br />officers, agents, or employees may sustain or incur, or which may be imposed upon them, or any of <br />them, as a result of, arising out of, or in any manner connected with SABC's management and/or <br />administration of the DMF funds. <br />§ 3.02 Insurance Requirement Generally <br />Prior to the Commencement Date (except as hereinafter otherwise provided), SABC shall <br />obtain at its sole cost and file with the Clerk of the Council, and maintain throughout the Term, <br />policies of insurance as required by this section and sections 3.03 through 3.05, or a certificate of such <br />insurance, satisfactory in form to the City Attorney. Each such policy (except policies of Workers' <br />Compensation Insurance) shall name City as an insured or additional insured and each liability <br />insurance policy shall also name the officers, agents and employees of City as insureds or additional <br />insureds. Each such policy shall also contain a provision that no termination, cancellation or change <br />of coverage or (where applicable) of insured or additional insured shall be effective until after thirty <br />(30) day notice thereof has been given in writing to City. <br />§ 3.03 Liability Insurance <br />SABC shall provide a policy or policies of insurance which provides coverage not less than <br />that provided in the form of a comprehensive general liability insurance policy against liability for <br />any and all claims and suits for damages or injuries to persons or property resulting from or arising <br />