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DocuSign Envelope ID: 348BB866-CFC7-422D-BFB7-863533B13759 inspection. Subrecipient shall ensure that this clause concerning the authority to audit funds received indirectly by subcontractors through Subrecipient and the requirement to cooperate is included in any subcontract it awards. (c) Subrecipient will be deemed to have read and know of all applicable federal, state, and local laws, regulations, and rules pertaining to the Project, including those identified in Attachment D, governing audit requirements. (d) At any time, the GLO may perform, or instruct a for -profit Subrecipient to perform, an annual Program -specific, fiscal, special, or targeted audit of any aspect of Subrecipient's operation. Subrecipient shall maintain financial and other records prescribed by the GLO or by applicable federal or state laws, rules, and regulations. 7.03 PERIOD OF RETENTION All records relevant to this Contract shall be retained for a period of three (3) years subsequent to the final closeout of the overall State of Texas CDBG-MIT grant, in accordance with federal regulations. The GLO will notify all Program participants of the date upon which local records may be destroyed. ARTICLE VIII - MISCELLANEOUS PROVISIONS 8.01 LEGAL OBLIGATIONS For the duration of this Contract, Subrecipient shall procure and maintain any license, authorization, insurance, waiver, permit, qualification, or certification required by federal, state, county, or city statute, ordinance, law, or regulation to be held by Subrecipient to provide the goods or services required by this Contract. Subrecipient shall pay all costs associated with all taxes, assessments, fees, premiums, permits, and licenses required by law. Subrecipient shall pay any such government obligations not paid by its subcontractors during performance of this Contract. Subrecipient shall maintain copies of such licenses and permits as a part of its local records in accordance with Section 7.01 of this Contract or as otherwise specifically directed by the GLO. Subrecipient shall provide Monthly Activity Status Reports via the GLO system of record in accordance with Section 4.02 of this Contract. 8.02 INDEMNITY As required under the Constitution and laws of the State of Texas, each Parry understands that it is solely liable for any liability resulting from its acts or omissions. No act or omission of a Party shall be imputed to the other Party. Neither Party shall indemnify or defend the other Party. 8.03 INSURANCE AND BOND REQUIREMENTS (a) Unless Subrecipient is authorized by Chapter 2259 of the Texas Government Code to self -insure, Subrecipient shall carry insurance for the duration of this Contract in types and amounts necessary and appropriate for the Project. (b) Subrecipient shall require all contractors, subcontractors, vendors, service providers, or any other person or entity performing work described in GLO Contract No. 22-119-004-D374 Page 17 of 29