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Page 7 of 20 <br /> may require, including, but not limited to: meetings, progress reports, and <br /> monthly performance reports. <br /> The Contractor shall collect and submit to the Department at such time <br /> as it may require, such financial statements, data, records, contracts, and <br /> other documents related to the Project as may be deemed necessary by the <br /> Department. Such reports shall include narrative and financial statements of <br /> sufficient substance to be in conformance with the reporting requirements of <br /> the Department. Progress reports throughout the useful life of the project <br /> equipment shall be used, in part, to document utilization of the project <br /> equipment. Failure to fully utilize the project equipment in the manner <br /> directed by the Department shall constitute a breach of contract, and after <br /> written notification by the Department, may result in termination of the <br /> Agreement or any such remedy as the Department deems appropriate. <br /> The Contractor will be responsible for having an adequate costs <br /> accounting system, and the ongoing burden or proof of adequacy for such <br /> system shall be upon the Contractor. The Department will determine whether <br /> or not the Contractor has an adequate cost accounting system. Such <br /> determination shall be documented initially prior to payment of any invoices <br /> pursuant to the Agreement, and from time to time as deemed necessary by the <br /> Department. In the event of a negative finding during any such determination <br /> proceedings, the Department may suspend, revoke, or place conditions upon <br /> its determination, and/or may recommend or require remedial actions as <br /> appropriate. <br /> The Contractor and its third party contractors shall retain all records <br /> pertaining to this Project for a period of three (3) years from the date for <br /> final payment to the Contractor. <br />