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Exhibit B -- Undertaking for Continuing Disclosure, <br />The County undertakes, for the benefit of the beneficial owners of the Bonds, to provide <br />the following items and information to the Municipal Securities Rulemaking Board (the <br />"MSRB "): <br />(a) by not later than seven months from the end of each of the County's fiscal years, <br />audited County financial statements for such fiscal year, if available, prepared in accordance <br />with Section 159 -34 of the General Statutes of North Carolina, as it may be amended from time <br />to 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 such <br />fiscal year, to be replaced subsequently by audited County financial statements to be delivered <br />within 15 days 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 fiscal years, <br />(i) the financial and statistical data as of a date not earlier than the end of the preceding fiscal <br />year (which data will be prepared at least annually, will specify the date as to which such <br />information was prepared and will be delivered with any subsequent material events notices <br />specified 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 (excluding <br />any information on overlapping or underlying units), and (ii) the combined budget of the County <br />for the current fiscal year, to the extent such items are not included in the audited financial <br />statements referred to in (a) above; <br />(c) in a timely manner, not in excess of ten business days after the occurrence of the <br />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 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 proposed or <br />final determinations of taxability, Notices of Proposed Issue (IRS Form 5701 -TEB) or other <br />