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have expired, then that member is mdividuallyr liable and responsible for payment of that debt <br />unless it has been declared banknupt or is othetWise prohibited by laNv from paying such debt ul <br />which case the remaiiiulg parties shall payr the debt, in accordance ��itIt the formula in the first <br />sentence of this paragraph. <br />CSBG. <br />The simlatories to this agreement are not liable for any fiords misspent tinder <br />B. Pursuant to Government Code section 6 08.1, the debts, liabilities and <br />obligations of AC AP shall be the debts, liabilities and obligations of the signatories to this <br />agreement, to be shared equally. <br />C. AC AP agrees to hold harmless, mdemni6 -, and to defend the AC AP <br />members and their officers, emplovees and agents from any and all claims for injury or damage <br />of whatever type brought by or on behalf of any third party, mcludulg, but not limited to, <br />AC AP's officers, emplovees, and agents, arising from or connected Nvith anv acts or omissions in <br />the performance of this agreement by AC AP except from any such claims solely out of <br />acts or omissions attributable to the AC AP member or its officers, emplovees, or agents. <br />V. FISCAL CONTROL <br />A. Depository Controller Pursuant to Section 6505.6 of the California <br />Government Code, the Board shall appoint one of its officers or employees to serve as either or <br />both the treasurer and the auditor. The offices of auditor and treasurer may be held by separate <br />officers or employees or combined and held by one officer or employee. Such person or <br />persons shall comply Nvith the duties and responsibilities of the treasurer and auditor as set forth <br />in subdivisions (a) to (d), inclusive, of California Government Code Section 6,505.5 and shall <br />cause an independent audit to be made by a certified public accountant, or public accountant, in <br />compliance Nvith Section 6505. <br />B. Records and Reports AC AP shall establish and maintain such finds and <br />accounts as may be required by good accounting practice or by law. The books and records of <br />AC AP shall be open to inspection at all reasonable times by representatives of any simlatoryr to <br />this agreement. <br />C. Inspection and Audit Representatives of any of the signatories to this <br />agreement shall at all times have access for the purpose of audit or inspection to anv and all <br />books, doctnnents, papers, records, property, and premises of AC AP. <br />D. Disposition of Assets; Surphus AIoney Upon termination of this <br />agreement all costs, expenses and charges legallyr incurred byr �C �P shall be paid and <br />discharged; and AC AP shall sell such property as may be necessary therefor and shall be <br />distributed to the United States Government and /or the State of California such property and <br />finds as are lawfidlyr required, the balance of such property and any surphus money on hand shall <br />be distributed or returned ui proportion to contributions made by the effected parties except to <br />the extent other<�ise agreed upon by the affected parties. <br />