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��14�1�� 15 H U D. I nterest may be perm itted on such advances with the prior writt�n appro�a� of HUD. Such repayment is n�t c�nsidered a Distribution if otherwis� appra�ed by HUD. ��.FfNANCIAL ACC�UNTING. Borr�wer shali keep th� books and a�counts af the operation of the IVlart�aged Property �n accordance v�rith Pr�gram �biigati�ns. The books and a��unts must be c�mplete, accurat� and current at a�� times. Posting must be mad� at �east monthly t� the ledger acc�unts, an� year-end adjusting entries must be posted promptly in acc�rdance w'rth sound accounting princ�p�es. Any Undocum�nted Expense �r Distribution shall b� an ineli�ible Pr�ject expense, unless �therwise det�rmin�d in writing by H U D. An `�Undocum�nted Expense" is an ex�ens� with�ut sufficient docum�ntation that prav�d�s reasonab�e �dentifiGation of the basis of the exp�ns�. B�oks, accounts and records shall be ap�n and avaiiable for inspection by HUD, after reasonable prior n�tic�, �urin� narmal affice hours, at the Praject�r anoth�r mutually a�reeable I�cat��n. 17.B��KS MAINTAlNEa BY MANA�EMENT A�ENTS. The bo�ks and records of the Praject ma�ntain�d �y management agents and Affiliates shai� b� ma�ntained in accordan�e with Pr�gram �bligations and shail be apen and a�aElable to insp�ction by H U D, after reasonabl� prior notice, d u ring normal off'rc� hou rs, at the Praject ar another mutua�iy agreeabl� I��at��n. Every �ontract execut�d on �ehalf af the Pr�ject with any management ag�nt orAffiliat� shall �nclude the pr�vision that the boaks and recordS �f the Project shall be pr�perly maintained and �pen to inspe�tion during normal business hours by HUD at the Praj�ct ar another mutua��y agreeable I�cation. Upon the t�rminat�on �f a c�ntract w�th management agent andlor Affil�ates, the books and records of the Pra�ect mainta�n�d by the manag�ment agent andlarAffiliates shall remain with Sorrower. 18.ANNUAL F�NAN�IAL STATEMENT. Within ninety �9�} days, or such period esta�fished in writing by HUD, fallowing the end af ea�h fiscal year, Borrower sha�l furnish HUD and L�nder with a �omplet� annual financ�al report based upan an examinat��n af th� books and records of Borrower prepar�d in ac�ordance with GAAP, audited �n accardanc� w�th �en�rally Acce�t�d Audit�ng Standards �"�AAS"} an� �a�ernm�nt Aud�ting Standards �"�AS"} and any add�t��nal requirements of HUD unless the report is wai�ed in wr�ting by HUD. If Borrawer fails to submit the annual financia� r�port within ninety �9�} days of sa�d due date, HUD may thereafter hire a cert'rfied public accountant to prepare the r�port at th� exp�ns� of Borrower. Th� r�port shall include a certif��ation in c�ntent and form prescribed by H U D and certifi�d by B�rrower. Th� re�ort sha�l b� pr�pared and �ertified by a c�rtified public aG�ountant wh� is iicens�d or �er#ified by a regulatory auth�rity �f a state �r oth�r political subdiv�si�n af the Un�ted States, wh�ch autharity makes the �ert�f�ed public accountant subject to regulations, d�sciplinary measures, ar �odes �f ethics pres�ribed by law. Th� certified publi� accountant must ha�e no busin�ss r�lati�nship with Borrawer except f�r the �erformance vf the audit and tax preparation unless HLJD �xpressly auth�rizes oth�r relationships. Auditing c�sts and �ax �reparatian c�sts may b� charged as an Previous editions ar�obsolete; Regulatory Agreement HUD-9�466M�Re�.�41'�1} Replaces form HU�-92466��1�2}