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(5) RECORDKEEPING <br /> (a ) As applicable, Recipient's performance under this Agreement shall be subject to the <br /> federal "Common Rule : Uniform Administrative Requirements for State and Local Governments" (53 <br /> Federal Register 8034) or OMB Circular No . A- 110 , "Grants and Agreements with Institutions of High <br /> Education , Hospitals , and Other Nonprofit Organizations ," and either OMB Circular No . A-87 , "Cost <br /> Principles for State and Local Governments, " OMB Circular No. A-21 , "Cost Principles for Educational <br /> Institutions , " or OMB Circular No . A- 122 , "Cost Principles for Nonprofit Organizations ." If this Agreement <br /> is made with a commercial (for-profit) organization on a cost-reimbursement basis , the Recipient shall be <br /> subject to Federal Acquisition Regulations 31 .2 and 931 .2 . <br /> (b ) The Recipient shall retain sufficient records demonstrating its compliance with the <br /> terms of this Agreement, and the compliance of all subcontractors or consultants to be paid from funds <br /> provided under this Agreement, for a period of five years from the date the audit report is issued , and <br /> shall allow DEM or its designee , the Chief Financial Officer, or Auditor General access to such records <br /> upon request. The Recipient shall ensure that audit working papers are made available to DME or its <br /> designee , Chief Financial Officer, or Auditor General upon request for a period of five years from the date <br /> the audit report is issued , unless extended in writing by DEM , with the following exceptions : <br /> 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 subcontractors or <br /> consultants to be paid from funds provided under this Agreement, including supporting documentation of <br /> all program costs , in a form sufficient to determine compliance with the requirements and objectives of the <br /> Budget and Scope of Work - Attachment A - and all other applicable laws and regulations . <br /> (d ) The Recipient, its employees or agents , including all subcontractors or consultants to <br /> be paid from funds provided under this Agreement, shall allow access to its records at reasonable times <br /> 2 <br />