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i t (3) PERIOD OF AGREEMENT. This Agreement shall begin upon execution by both parties, and shall end twenty-four (24) months after the last date signed, unless terminated earlier in accordance with the provisions of Paragraph (10) of this Agreement. CONTRACT EXTENSIONS WILL NOT BE GRANTED UNLESS RECIPIENT IS ABLE TO PROVIDE SUBSTANTIAL JUSTIFICATION AND THE DIVISION DIRECTOR i APPROVES SUCH EXTENSION. (4) MODIFICATION OF CONTRACT Either party may request modification of the provisions of this Agreement. Changes, which are mutually agreed upon, shall be valid* only when reduced to writing, duly signed by each of the parties hereto, and attached to the original of this Agreement. (5) RECORDKEEPING (a) As applicable, Recipient's performance under this Agreement shall be subject to the federal "Common Rule: Uniform Administrative Requirements for State and Local Governments" (53 l Federal Register. 8034) or OMB Circular No. A-110, "Grants and Agreements with Institutions of High 1 Education , Hospitals, and Other Nonprofit Organizations," and either OMB Circular No. A-87, "Cost Principles for State and Local Governments," OMB Circular No. A-21 , "Cost Principles for Educational Institutions," or OMB Circular No. A-122, "Cost Principles for Nonprofit Organizations" If to Agreement is made with a commercial (far-profit) organization on a cost-reimbursement basis, the Recipient shall be subject to Federal Acquisition Regulations 31 .2 and 931 .2. (b) The Recipient shall retain sufficient records demonstrating its compliance with the terms of this Agreement, and the compliance of all subcontractors or consultants to be paid from funds provided under this Agreement, fora period of five years from the date the audit report is issued, and shall allow the Department or its designee, Chief Financial Officer, or Auditor General access to such records upon request The Recipient shall ensure that audit working papers are made available to the Department or its designee , Chief Financial Officer, or Auditor General upon request for a period of five years from the date the audit report is issued, unless extended in writing by the Department, with the following exceptions: 2