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1 . If any litigation, claim or audit is started before the expiration of the five-year <br /> period and extends beyond the five-year period , the records will be maintained until all litigation, claims or <br /> audit findings. involving the records have been resolved. <br /> 2 . Records for the disposition of non-expendable personal property valued at <br /> $5,000 or more at the time of acquisition shall be retained for five years after final disposition . <br /> 3. Records relating to real property acquisition shall be retained for five years <br /> after closing of title. <br /> (c) The Recipient shall maintain all records for the Recipient and for all <br /> subcontractors or consultants to be paid from funds provided under this Agreement, including supporting <br /> documentation of all program costs, in a form sufficient to determine compliance with the requirements <br /> and objectives of the Budget and Scope of Work, Attachment A, Attachment B, Activity Work Plan(s) , the <br /> Grant Application and subsequent revisions that are mutually agreed to by both parties, and all other <br /> applicable laws and regulations. <br /> (d) The Recipient, its employees or agents, including all subcontractors or <br /> consultants to be paid from funds provided under this Agreement, shall allow access to its records at <br /> reasonable times to the Department, its employees, and agents. 'Reasonable" shall be construed <br /> according to the circumstances but ordinarily shall mean during normal business hours of 8: b0 a. m. to <br /> 5:00 p.m. , local time, on Monday through Friday. "Agents" shall include, but not be limited to, auditors <br /> retained by the Department. <br /> (6) AUDIT REQUIREMENTS <br /> _ . (a) The Recipient agrees to maintain financial procedures and support documents, <br /> in accordance with generally. accepted accounting principles, to account for the receipt and expenditure of <br /> funds under this Agreement. <br /> (b) These records shall be available at all reasonable times for inspection, review, <br /> or audit by state personnel and other personnel duly authorized by the Department. 'Reasonable" shall <br /> be construed according to circumstances, but ordinarily shall mean normal business hours of 8:00 a. m. to <br /> 5:00 p. m. , local time, Monday through Friday. <br /> 3 <br />