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maintain records with sufficient detail as may be required by the County <br />for verification. <br /> <br />(3) Present Use Value Audits: <br /> <br />A fixed fee of four hundred dollars ($400.00) per audit shall include all <br />cost for the completion of an individual audit including travel expenses. <br />An audit shall be deemed completed when the County Assessor is notified <br />of the audit results. <br /> <br />The County will be responsible for the cost of postage for handling audit <br />correspondence and the cost of providing TMA copies of County tax records <br />associated with an individual audit. <br /> <br />TMA shall invoice the County for applicable audit fees on a monthly basis. <br />Invoiced fees will be due and payable within ten (10) days following billing date. <br />If payment is not received by TMA within thirty (30) days from billing date, <br />unpaid balance of fees will be subject to additional fees in the amount of one and <br />one-half percent (1 1/2%) per month until payment is received. <br /> <br />All legal cost involving appeals resulting from an audit shall be the responsibility <br />of the County. TMA shall be responsible for defending its audit findings <br />throughout any appeals process without additional cost to the County. Defense of <br />audit findings shall include personal appearances at meetings with taxpayers or <br />their representatives, and providing testimony and evidence at all hearings before <br />the County Assessor, County Finance Directory, Board of County <br />Commissioners, and any other appeal level concerning information identified in <br />an audit performed by TMA as provided by this Agreement. <br /> <br />GENERAL PROVISIONS <br /> <br />1. AUTHORITY TO CONTRACT: The COUNTY'S authority to contract for the <br />service herein is authorized by North Carolina General Statutes including 105-299, and/or <br />the provisions of applicable County Ordinances or Resolutions. <br /> <br />2. AUDIT:. All invoices shall be submitted by the CONTRACTOR to the COUNTY <br />^ss sso t i,,or <br /> <br />3. CANCELLATION: This agreement shall become e.~the date entere'"" " d"'-'"- <br />above and shall remain in effect for an initial period offl~ months and shall continue in <br />effect on a month-to-month basis thereafter until term£nate-d by either party. This <br />Agreement may be teaitdnated by either party without cause following the initial term <br />upon thirty (30) days written notice to the other party. <br /> <br />4 <br /> <br /> <br />