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(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 Federal Register 8034 ) or OMB Circular No. A-110 , "Grants and Agreements with Institutions of High 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 this Agreement is made with a commercial (for-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, for a period of five years from the date the audit report is issued , and shall allow DEM or its designee , the Chief Financial Officer, or Auditor General access to such records upon request. The Recipient shall ensure that audit working papers are made available to DEM 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 DEM , with the following exceptions : 1 . If any litigation , claim or audit is started before the expiration of the five year period and extends beyond the five year period , the records will be maintained until all litigation , claims or audit findings involving the records have been resolved . 2 . Records for the disposition of non-expendable personal property valued at $5,000 or more at the time of acquisition shall be retained for five years after final disposition . 3 . Records relating to real property acquisition shall be retained for five years after closing of title . (c) The Recipient shall maintain all records for the Recipient and for all subcontractors or consultants to be paid from funds provided under this Agreement, including supporting documentation of all program costs , in a form sufficient to determine compliance with the requirements and objectives of the Budget and Scope of Work - Attachment A - and all other applicable laws and regulations . (d ) The Recipient, its employees or agents , including all subcontractors or consultants to be paid from funds provided under this Agreement, shall allow access to its records at reasonable times 2