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16 <br /> Exhibit B -- Undertaking for Continuing Disclosure <br /> The County undertakes, for the benefit of the beneficial owners of the Bonds, <br /> to provide the following items and information to the Municipal Securities <br /> Rulemaking Board (the "MSRB"): <br /> (a) by not later than seven months from the end of each of the County's <br /> fiscal years, audited County financial statements for such fiscal year, if available, <br /> prepared in accordance with Section 159-34 of the General Statutes of North <br /> Carolina, as it may be amended from time to time, or any successor statute, or, if <br /> such audited financial statements are not available by seven months from the end of <br /> any fiscal year, unaudited County financial statements for such fiscal year, to be <br /> replaced subsequently by audited County financial statements to be delivered <br /> 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 <br /> fiscal years, (i) the financial and statistical data as of a date not earlier than the end <br /> 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 <br /> with any subsequent material events notices specified in subparagraph (c) below) <br /> for the type of information included under heading "The County - Debt Information" <br /> and "- Tax Information" in the final Official Statement (excluding any information on <br /> overlapping or underlying units), and (ii) the combined budget of the County for the <br /> 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 <br /> occurrence of the event notice of any of the following events with respect to the <br /> Bonds: <br /> (1) principal and interest payment delinquencies; <br /> (2) non-payment related defaults; <br /> 14 <br />