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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 : 00 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 />