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13 <br /> Exhibit B --Undertakine for Continuing Disclosure <br /> The County undertakes, for the benefit of the beneficial owners of the Bonds, to <br /> provide the following items and information to the Municipal Securities Rulemaking <br /> Board(the "MSRB"): <br /> (a) by not later than seven months-from the end of each of the County's fiscal <br /> years, audited County financial statements for such fiscal year, if available, prepared in <br /> accordance with Section 159-34 of the General Statutes of North Carolina, as it may be <br /> amended from time to time, or any successor statute, or, if such audited financial <br /> statements are not available by seven months from the end of any fiscal year, unaudited <br /> County financial statements for such fiscal year, to be replaced subsequently by audited <br /> County financial statements to be delivered within 15 days after such audited financial <br /> statements become available for distribution; <br /> (b) by not later than seven months from the end of each of the County's fiscal <br /> years, (i) the financial and statistical data as of a date not earlier than the end of the <br /> preceding fiscal year (which data will be prepared at least annually, will specify the date <br /> as to which such information was prepared and will be delivered with any subsequent <br /> material events notices specified in subparagraph (c) below) for the type of information <br /> included under heading "The County - Debt Information" and"- Tax Information" in the <br /> final Official Statement (excluding any information on overlapping or underlying units), <br /> and (ii) the combined budget of the County for the current fiscal year, to the extent such <br /> items are not included in the audited financial statements referred to in(a)above; <br /> (c) in a timely manner, not in excess of ten business days after the occurrence <br /> of the event notice of any of the following events with respect to the Bonds: <br /> (1) principal and interest payment delinquencies; <br /> (2) non-payment related defaults; <br /> (3) unscheduled draws on debt service reserves reflecting financial difficulties; <br /> (4) unscheduled draws on any credit enhancements reflecting financial <br /> difficulties; <br /> (5) substitution of credit or liquidity providers, or their failure to perform; <br /> (6) adverse tax opinions, the issuance by the Internal Revenue Service of <br /> proposed or final determinations of taxability, Notices of Proposed Issue (IRS Form <br /> 5701-TEB) or other material notices or determinations with respect to the tax status of the <br /> 2010 Bonds, or other material events affecting the tax status of the Bonds; <br /> (7) modifications to rights of the beneficial owners of the Bonds, if material; <br /> 11 <br />