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Exhibit B -- Undertakin..g for Continuing Disclosure <br />The County undertakes, for the benefit of the beneficial owners of the Bonds, <br />to provide the following: <br />(a) by not later than seven months from the end of each of the County's <br />fiscal years, to eachnationally recognized municipal securities information repository <br />("NRMSIR"), and the state information depository for the State of North Carolina <br />("SID"), if any, audited County financial statements for such fiscal year, if available, <br />prepared in accordance with Section 159-34 of the General Statutes of North <br />Carolina, as it may be amended form time to time, or any successor statute, or, if such <br />audited financial- statements are not available by seven months from the end of any <br />fiscal year, unaudited County financial statements for such fiscal year, to be replaced <br />subsequently by audited County financial statements to be delivered within 15 days <br />after such audited financial statements become available for distribution; <br />(b) by not later than seven months from the end of each of the County's <br />fiscal years, to each NRMSIR, and to the SID, if any, (i) the financial and statistical <br />data a.s of a date not earlier than the end of the preceding fiscal year (which data will <br />be prepared at least annually, will specify the date as to which such information was <br />prepared and will be delivered with any subsequent material events notices specified <br />in subparagraph (c) below) for the type of information included under heading "The <br />County -Debt Information" and "- Tax Information" in the final Official Statement <br />(excluding any information on overlapping or underlying units), and (ii) the <br />combined budget of the County for the current fiscal year, to the extent such items <br />are not included in the audited financial statements referred to in (a) above; <br />(c} in a timely manner, to each NRMSIR or to the Municipal Securities <br />Rulemaking Board ("MSRB"), and to the SID, if any, notice of any of the following <br />events with respect to the Bonds, if material: <br />(1) principal and interest payment delinquencies; <br />(2) non-payment related defaults; <br />85902.1 <br />