Annual Requirements. For a period of 15 years following the completion of a project involving these grant funds, a grantee that received funds under the Loan Acts of 1972, 1975, 1977, 1978, 1980, 1985, 1990, and subsequent similar Loan Acts shall file written statements annually with the Department containing the following material: The number of personnel employed at the nursing home, by occupation, and all perquisites, salaries, and any other funds currently paid to these personnel; Fees or retainers paid directly or under contract to persons rendering services at the nursing home; A current, certified, audited profit-and-loss statement and balance sheet for the nursing home; Rates and fees charged for services at the nursing home; Gifts or endowments received during the current year; Patient days of service rendered, showing separately the days of service rendered to patients in the following classifications: Self-paying; Below cost; Medicare; Medicaid; Public assistance; and Other supplemental information required by the Secretary. For a period of 15 years following the completion of a project that receives poverty funding under Regulation .09D of this chapter, the grantee shall submit annually a quantitative statement of its performance in serving poverty clients defined in Regulation .09D of this chapter. Insurance Requirements. The applicant shall provide builders’ risk insurance during the entire period of project construction or renovation as follows: The policy shall name the State as a loss payee; The policy shall be endorsed to protect the State's interest in the nursing home; The coverage shall be for an amount at least equal to the replacement cost of the nursing home; and The grantee shall submit evidence of this insurance to the Office of Capital Planning, Budgeting, and Engineering Services. Upon completion of a project, the grantee shall maintain for a period of 15 years all-risk insurance coverage as follows: The coverage shall be for an amount at least equal to the replacement cost of the nursing home; The policy shall name the State as a loss payee; The policy shall be endorsed to protect the State's interest in the project; The policy shall be endorsed to notify the Office of Capital Planning, Budgeting, and Engineering Services, 201 West Preston Street, Baltimore, Maryland 21201 of any: Notification of cancellation of policy; Material loss covered by the policy; and Material changes in the policy; and The grantee shall submit evidence of this insurance annually to the Office of Capital Planning, Budgeting, and Engineering Services and to the State Treasurer’s Office, Insurance Division. A grantee receiving grant funds under the Loan Acts of 1972, 1975, 1977, 1978, 1980, 1985, 1990, and subsequent similar Loan Acts, shall make available business records of the nursing home for verification by representatives of the Department or its designated agents during the entire period of work on the project and for a period of 15 years after the project has been completed. Extension of Time for Completion, and Other Changes. The applicant shall promptly notify the Secretary if the applicant is unable to encumber funds: In the manner approved by the Secretary; or Within 2 years of the appropriation by the Maryland legislature. The Secretary may grant a request by the applicant for a change in the manner or time of encumbrance of funds, including an extension of time, for good cause. Expenditures. State funds may not be expended until the grantee is in compliance with §B(1) of this regulation, and a notice of the right of recovery is recorded in the land records of the political jurisdiction in which the property is located. Penalties. If the grantee does not comply with §§A, B, and C of this regulation, the Secretary may: Refuse to consider the grantee for any future funding under a Loan Act; and Require an audit of the grantee.