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Page 10 of 12_ a copy of the audit and any management letter accompanying the same. Furthermore, non-profit corporations or organizations receiving funds under this contract of $1,000 or more and not exempted by Section l(d) of GS 159-40, are required to file a copy of the independent audit report with the office of the State Auditor. 23. ~udit Resolution and Disallowe~'Costs. In the event the Council or the North Carolina Division of Aging disallows any expenditure of grant funds made by the Agency for any reason, the Agency shall promptly reimburse such funds to the Council. The Council may also withhold future payments under this or any other contract with the Agency until the audit exceptions are cleared. 24. Indemnity and Insurance. The Agency agrees to indemnify and save harmless the Council, its agents and employees from and against any and all loss, cost, damages, expense and liability caused by the failure of the Agency to fully perform its obligation under this agreement and in accordance with its terms; or by an accident or other occurrence causing bodily injury, including death, sickness and disease to any person; or damage or destruction to property, real or personal, which may arise from operations, products or services rendered under this contract. The Agency, at its own expense, shall procure and maintain for the duration of this contract, the following policies of insurance. (a) Automobile bodily injury and property damage liability covering all owned, non-owned, and hired automobiles for limits of not less than $250,000 each person, $500,000 each occ%~rrence bodily injury liability and $250,000 each occurrence property damage liability. If the Agency is funded to provide transportation serviceg, then insurance to cover up to $2,000 in medical payments shall also be required. (b) Comprehensive General Liability including coverage for personal injury hazards A, B, and C, products and completed operations and contractual liability assumed under the indemnity provision of this contract for limits of not less than $500,000 bodily injury liability each occurrence/aggregate and $250,000 property damage liability each occurrence/aggregate. (c) Workers Compensation and Occupational Disease Insurance meeting the statutory requirements of the State of North Carolina and employers' liability insurance for an amount of not less than $100,000. (d) If the Agency, with the permission of the Council, subcontracts any of the work or services under this contract, then the Agency shall require the subcontractor to carry the appropriate insurance and to save harmless the Agency and the Council. Certificates of Insurance reflecting such coverage must be