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13 <br /> Exhibit B --Undertaking for Continuing Disclosure <br /> The County undertakes, for the benefit of the beneficial owners of the Bonds, to <br /> provide the following: <br /> (a) by not later than seven months from the end of each of the County's fiscal <br /> years, to the Municipal Securities Rulemaking Board ("MSRB"), audited County <br /> financial statements for such fiscal year, if available, prepared in accordance with Section <br /> 159-34 of the General Statutes of North Carolina, as it may be amended from time to <br /> time, or any successor statute, or, if such audited financial statements are not available by <br /> seven months from the end of any fiscal year, unaudited County financial statements for <br /> such fiscal year, to be replaced subsequently by audited County financial statements to be <br /> delivered within 15 days after such audited financial statements become available for <br /> distribution; <br /> (b) by not later than seven months from the end of each of the County's fiscal <br /> years, to the MSRB, (i) the financial and statistical data as of a date not earlier than the <br /> end of the preceding fiscal year (which data will be prepared at least annually, will <br /> specify the date as to which such information was prepared and will be delivered with <br /> any subsequent material events notices specified in subparagraph (c) below) for the type <br /> of information included under heading "The County - Debt Information" and "- Tax <br /> Information" in the final Official Statement(excluding any information on overlapping or <br /> underlying units), and (ii) the combined budget of the County for the current fiscal year, <br /> to the extent such items are not included in the audited financial statements referred to in <br /> (a) above; <br /> (c) in a timely manner, to the MSRB, notice of any of the following events <br /> with respect to the Bonds, if material: <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 or events affecting the tax-exempt status of the Bonds; <br /> • (7) modifications to rights of the beneficial owners of the Bonds; <br /> 12 <br />