2011 - 01-31-2011 Reg. Adj. Meeting

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acch 23 w 917 0) The Applicant agrees to keep and maintain books, records, and other documents relating to the receipt and disbursement of Assistance and the fulfillment of this Agreement. If the Applicant fails to keep and maintain books and records necessary for verifying fulfillment of this Agreement, the Secretary of DOC may in his discretion declare this Agreement to be in default, withhold payments for or under this Agreement, and /or require reimbursement of all or any portion of Grant funds previously paid. Prior to taking such action, the Secretary of DOC will endeavor to communicate with the Applicant and the Company to discuss the circumstances and the actions being contemplated. 0) . The Applicant agrees to provide any duly authorized representative of DOC or the State of North Carolina at all reasonable times access to and the right to inspect, copy, monitor, and examine all of the books, papers, records, and other documents relating to the grant for a period of three years following the last payment of funds or for the inspection period specified in the Company Performance Agreement, whichever is longer. To the extent any information or documents gathered pursuant to this section would be regarded as confidential or not subject to disclosure under federal law or the North Carolina General Statutes (to include, without limitation, N.C. Gen. Star. §§ 132 -1 et seq., commonly referred to as the "Public Records Act "), the Applicant shall clearly identify and mark them as such and that information will, to the extent allowed by law, be treated as confidential and not subject to disclosure by DOC and its authorized representatives. If the Applicant fails to provide such access and right of inspection, the Secretary of DOC may exercise discretion to declare this Agreement in default, to withhold payments under this Agreement and /or require reimbursement of all or any portion of Assistance paid. 0) The Applicant shall comply with all lawful requirements of DOC, all applicable requirements of the General Statutes of the State of North Carolina, and any other applicable laws and /or Executive Orders currently or hereafter in force. (k) In the event that the Company and Related Members, or the Guarantor fail to fulfill their responsibilities under the Company Application and /or Company Performance Ao geement, including their responsibilities to create and /or retain jobs, make investments, and incur statutorily qualifying expenses, the Applicant, after consultation with the Secretary of DOC and not inconsistent with the Secretary's authority under the Company Performance Agreement, shall promptly exercise its rights and remedies to require repayment of funds, or to assess such other penalties as may be provided for in the Company Performance Agreement. (1) In addition, in the event that the Company and Related Members, or the Guarantor fail to fulfill their responsibilities under the Company Application and /or Company Performance Agreement, including their responsibilities to create and /or retain jobs, make investments, and incur statutorily qualifying expenses, and the Applicant recaptures funds from the Company, the Applicant shall promptly pay to DOC any amount which it is able to collect. The parties to this Agreement agree and understand that the payment of all sums specified in this Agreement is dependent and contingent upon and subject to the appropriation, allocation, and availability of funds to DOC for this purpose. Failure of DOC at any time to require performance of any term or provision of this Agreement shall in no manner affect the rights of DOC at a later date to enforce the same or to enforce any future compliance with or performance of any of the terms or provisions hereof. No waiver of DOC of any condition or the breach of any term, provision or representation contained in this Agreement, whether by conduct or otherwise, in any one or more instances, shall be deerned to be or construed as a further or continuing waiver of any such condition or of the breach of that or any other term, provision or representation.