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and approval prior to the execution of such subcontract. <br />Further, if requested by COG, the Agency shall provide COG <br />with such documentation as it shall require, regarding the <br />method the Agency used in selecting its subcontractor. The <br />Agency acknowledges that if the work or services to be <br />performed under this Contract is financed solely or <br />partially through Federal funds, the selection of <br />subcontractors is governed by regulations requiring <br />competition between potential subcontractors or adequate <br />justification for sole source selection. The Agency agrees <br />to abide by such regulations in its selection procedure. <br />13. Review and Coordination. To insure adequate review and <br />evaluation of the work, and proper coordination among <br />interested parties, COG shall be kept fully informed <br />concerning the progress of the work and services to be <br />performed hereunder. COG may require the Agency to meet <br />with designated officials of COG and the Concerned Funding <br />Agency from time to time to review the work. Reasonable <br />prior notice of such review meeting shall be given the <br />Agency. <br />14. Inspections. Authorized representatives of COG and the <br />Concerned Funding Agency may at all reasonable times review <br />and inspect the Project activities and data collected <br />pursuant to this contract. All reports, drawings, studies, <br />specifications, estimates, maps and computation prepared by <br />or for the Agency shall be made available to authorized <br />representatives of COG and the Concerned Funding Agency for <br />inspection and review at all reasonable times in the <br />Agency's office where data are normally accumulated. <br />Approval and acceptance of such material shall not relieve <br />the Agency of its professional obligation to correct, at its <br />expense, any errors found in the work. <br />15. Maintenance of Cost Records. The Agency shall maintain all <br />books, documents, papers, accounting records and other <br />evidence pertaining to costs incurred in the Project and <br />shall make such material available at all reasonable times <br />during the period of the Contract, and for three years from <br />the date of final payment under the Contract, for inspection <br />by COG, the Concerned Funding Agency, and if the work and <br />services to be performed under this Contract is wholly or <br />partially funded with Federal funds, the Comptroller General <br />of the United States, or any of their duly authorized <br />representatives. If any litigation, claim, negotiation, <br />audit or other action involving the Agency's records has <br />been started before the expiration of the three --year period, <br />the records must be retained until completion of the action <br />and resolution of all issues which arise from it. The <br />Agency shall include the provisions of this paragraph in any <br />subcontract executed in connection with this Project. <br />16. Audit. The Agency agrees to have an annual independent <br />audit, according to the North Carolina General Statutes, the <br />North Carolina Local Government Commission and the Office of <br />Management and Budget Circulars applicable to the Agency's <br />