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between the following additional requirements and any other provisions or requirement contained in this Agreement, the following additional requirements contained in this Section shall control. The Grantee shall maintain adequate financial records consistent with generally accepted accounting principles. The Grantee shall furnish the Grantor with an independent audit covering each grant year in which grant disbursements or expenditures were made; and prepared in compliance with generally recognized audit standards. The audit shall include a schedule of revenue and expenditures for the Project. The audit must be submitted within 30 days after the completion of the audit, but not later than one year after the end of the audit period. Alternatively, the Grantee shall submit accounting system records that track the use of grant proceeds and all matching funds by eligible Project Costs for each year in which grant disbursement and expenditures were made. The records shall reflect both expenditures and revenues and shall be submitted after all grant proceeds and matching funds have been expended or at the Grantor's request. DEED grant funds will go toward the costs of Roadway Construction, Sidewalk Construction, and Utility Installation; Tax Increment Financing will be used by the City of Roseville to cover the matching costs toward these activities and for Right-of-Way Acquisition. Where language within this agreement references the Public Entity operating the State Program, it means the operation of the activities eligible under the Redevelopment Grant Program. [THIS PAGE WAS 1NTENTIONALLY LEFT BLANK] Generic GO Bond Proceeds 3 6 Grant Agreement for ProgramConstruction Grants RDGP-08-0029-o-FY09 Ver — 8/20/08 (Gnrc GO GA-Prgrm Cnstrctn Grnt)