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0 5 4 <br />(3) The LCEDC agrees that it will supply such records, information and <br />verification relating to expenditures of the funds or the operations of the LCEDC as <br />may reasonable be requested by the COUNTY. The LCEDC agrees that the <br />COUNTY shall have access to the records and premises of the LCEDC at all <br />reasonable times, and the LCEDC agrees to submit such reports as the COUNTY <br />shall request pertaining to the funds granted herein or the operations of the <br />LCEDC. The LCEDC shall maintain a written accounting and documentation of all <br />of its receipts and disbursements relating to the grant funds which are the subject <br />of this Agreement. <br />The COUNTY reserves the right to require a certified audit pertaining to the use of <br />grant funds, or may perform the audit through the use of its staff. The LCEDC <br />agrees to subject itself to the provisions of Article 33C of Chapter 143 of the North <br />Carolina General Statutes, entitled "Meetings of Public Bodies" to the same extent <br />as the COUNTY. <br />(4) The LCEDC shall furnish to the COUNTY a copy of its audit report <br />performed by a certified public accountant as soon as such becomes available to <br />the LCEDC, but not later than six (6) months following the LCEDC'S fiscal year <br />end. <br />(5) Funds will be disbursed to the LCEDC by reimbursement to the <br />® LCEDC for expenses occurred in accordance with the attached Budget, unless <br />otherwise specified in the attachments. <br />(6) The COUNTY may suspend or terminate the payment of grant funds <br />in whole or in part for any violation of this Agreement. Suspension or termination <br />may be affected for the following reasons as determined-by the COUNTY, but not <br />limited to these reasons: <br />a) Ineffective or improper use of grant funds; <br />b) Failure to comply with the terms and conditions of the Agreement, <br />C) Submission to the COUNTY of reports which are incorrect or <br />incomplete in any material respects; <br />d) Frustration or impossibility of performance, rendering the carrying <br />out of this Agreement improper or unfeasible. <br />In addition, the COUNTY may suspend or terminate payment of <br />grant funds if the LCEDC fails to make satisfactory progress towards <br />meeting the project services which are the subject of this Agreement <br />and the determination of whether satisfactory progress has been <br />made shall be in the discretion of the COUNTY. <br />® If for any reason the payment of grant funds is suspended or <br />terminated, the LCEDC agrees to promptly remit to the COUNTY all <br />9 of 25 <br />