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DocuSign Envelope ID: E5E3F6C3-1140-45DC-9E04-D9C3A4A5DE3A <br /> 57 <br /> IMPROPER USE OF FUNDS <br /> Where either the Department or the FHWA determines that the funds paid to the Municipality for <br /> this Project are not used in accordance with the terms of this Agreement, the Department will bill <br /> the Municipality. <br /> TERMINATION OF PROJECT <br /> If the Municipality decides to terminate the Project without the concurrence of the Department, the <br /> Municipality shall reimburse the Department one hundred percent(100%)of all costs expended <br /> by the Department and associated with the Project. <br /> AUDITS <br /> In accordance with 2 CFR 200 "Uniform Administrative Requirements, Cost Principles, and Audit <br /> Requirements for Federal Awards," Subpart F—Audit Requirements, and the Federal Single <br /> Audit Act Amendments of 1996, the Municipality shall arrange for an annual independent financial <br /> and compliance audit of its fiscal operations. The Municipality shall furnish the Department with a <br /> copy of the annual independent audit report within thirty (30) days of completion of the report, but <br /> not later than nine (9) months after the Municipality's fiscal year ends. <br /> REIMBURSEMENT BY MUNICIPALITY <br /> For all monies due the Department as referenced in this Agreement, reimbursement shall be <br /> made by the Municipality to the Department within sixty (60) days of receiving an invoice. A late <br /> payment penalty and interest shall be charged on any unpaid balance due in accordance with <br /> NCGS 147-86.23. <br /> USE OF POWELL BILL FUNDS <br /> If the other party to this agreement is a Municipality and fails for any reason to reimburse the <br /> Department in accordance with the provisions for payment hereinabove provided, NCGS 136- <br /> 41.3 authorizes the Department to withhold so much of the Municipality's share of funds allocated <br /> to Municipality by NCGS 136-41.1, until such time as the Department has received payment in <br /> full. <br /> Agreement ID# 11619 20 <br />