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i <br /> 20 , <br /> Rural Economic Development Grant Agreement,Private Owner <br /> BUILDING REUSE PROGRAM—Revision#3 2020-025-3201-2587 ! <br /> contributions or other revenue sources for this Project. <br /> (b), The Govenunental Unit shall retain all financial records,supporting documents and <br /> all other pertinent records related to the Project for a period of five(5)years from the <br /> Termination Date. In the event such records are audited,all Project records shall be <br /> retained beyond the five-year period until the audit is concluded and any and all audit <br /> findings have been resolved. <br /> 9. Monitoring`Reports and Auditing. <br /> (a), The Governmental Unit agrees to ensure compliance and provide its assistance with <br /> such monitoring and auditing requirements as the State may request, including <br /> following the Termination Date of this Grant Agreement, Additionally,the <br /> Governmental Unit shall regularly monitor all performance under Grant-supported <br /> activities, including activities performed by the Owner and any Business,to ensure <br /> that time schedules are being met,New Jobs are being created and maintained and I <br /> other performance goals are being achieved. <br /> (b). The Governmental Unit shall furnish Commerce detailed written progress reports <br /> according to the time periods specified in Exhibit C or as otherwise requested by <br /> Commerce, Such reports should describe the progress made by the Governmental <br /> Unit,the Owner and any Business toward achieving the purposes)of the Project, <br /> Including specifically the goals of New Job creation and maintenance. Such <br /> descriptions should include the successes and problems encountered during the <br /> reporting period. Failure to submit a required report by the scheduled submission <br /> date will result in the withholding of any forthcoming payment until Commerce is in <br /> receipt of the delinquent report and the report meets with Commerce's approval, in <br /> Commerce's sole discretion. <br /> (c). The Governmental Unit acknowledges and agrees that,with regard to the Grant <br /> funds, it will be subject to the audit and reporting requirements prescribed by N.C.G.S <br /> §159.34,Local Government Finance Act-Annual Independent Audit;rules and <br /> regulations. Such audit and reporting requirements may vary depending upon the <br /> amount and source of Grant funding received by the Governmental Unit and are <br /> subject to change from time to time, <br /> (d). Within thirty(30)days after the Termination Date, the Governmental Unit shall <br /> submit a final report to Commerce describing the activities and accomplishments of <br /> the Project. The final report shall include a review of performance and activities over <br /> the entire Project period. In the final report,the Governmental Unit should describe <br /> the Project,how it was implemented, to what degree the established Project <br /> objectives were met and the difficulties encountered,what the Project changed and its <br /> cost. <br /> (e). The Governmental Unit grants the State and any of its related agencies,commissions <br /> or departments(including,without limitation,Commerce,the North Carolina State <br /> Auditor and the North Carolina Office of State Budget and Management)and any of <br /> their authorized representatives,at all reasonable times and as often as necessary <br /> (including after the Termination Date), access to and the right to inspect,copy, <br /> monitor,and examine all of the books,papers,records and other documents relating <br /> Grant Agrcement-5 <br />