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a~ <br />Exhibit S -- Undertalcin~ for Continuing Disclosure <br />The County undertakes, for the benefit of the beneficial owners of the <br />Bonds, to provide the following: <br />(a) by riot later than seven months from the end of each of the County's <br />fiscal years, to each nationally recognized municipal securities information <br />repository ("NRMSIR"), and the state information depository for the State of <br />North Carolina ("SID"), if any, audited County financial statements for such fiscal <br />year, if available, prepared in accordance with Section 159-34 of the General <br />Statutes of North Carolina, as it may be amended from time to time, or any <br />successor statute, or, if such audited financial statements are not available by seven <br />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 <br />statements to be delivered within 15 days after such audited financial statements <br />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 <br />statistical data as of a date not earlier than the end of the preceding fiscal year <br />(which data will be prepared at least annually, will specify the date as to which <br />such information was prepared acid will be delivered with any subsequent material <br />events notices specified in subparagraph (c) below) for the type of infornation <br />included under heading "The County -Debt Information" and "- Tax Information" <br />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 <br />year, to the extent such items are not included in the audited financial statements <br />referred to in (a) above; <br />(c) in a timely manner, to each NRMSIR or to the Municipal Securities <br />Rulemalcing Board ("MSRB"), and to the SID, if any, notice of any of the <br />following events with respect to the Bonds, if material: <br />(1) principal and interest payment delinquencies; <br />(2) non-payment related defaults; <br />Orange 04 GO bond resolution BR <br />