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2 <br /> <br />7. Authority has determined that the Project and the Project Activities meet the overall purpose <br />and goals of the Program; will positively contribute to and further such purpose and goals; and <br />is in the best interests of Authority and the community. <br /> <br />8. Authority has determined that Grantee has the necessary expertise, skill, and ability to <br />successfully complete the Project Activities and the Project as a whole. <br /> <br />9. Authority agrees to provide a Grant in the amount of Thirty-One Thousand Five Hundred and <br />no/100 Dollars ($31,500.00) (“Funds”) to Grantee pursuant to the Program and Authority’s <br />Resolution No. H2024-008. <br /> <br />NOW THEREFORE, in order to induce Authority to make the Grant to Grantee, and in <br />consideration of the mutual covenants and agreement contained in this Agreement, Authority and <br />Grantee agree as follows: <br /> <br />ARTICLE 1 <br />TERMS OF GRANT <br /> <br />Section 1.01 Grant Amount. Authority agrees to provide this Grant to Grantee in the <br />amount of not to exceed Thirty-One Thousand Five Hundred and no/100 Dollars ($31,500.00) <br />upon the terms and conditions and for the purposes set forth in this Agreement. The Grant <br />constitutes a grant of funds and no portion of the Grant is to be repaid by Grantee to Authority <br />unless mutually agreed to by all parties as part of this Agreement or an Event of Default (as defined <br />below) occurs. <br /> <br />Section 1.02 Documents Delivered with Agreement. Prior to, or contemporaneously <br />with the execution of this Agreement, Grantee has delivered to Authority the following documents <br />and/or instruments, each of which will be in a form acceptable to Authority. <br /> <br />A. Evidence of the insurance coverages required by this Agreement in a form acceptable to <br />Authority, to be submitted on an annual basis on the anniversary date of this Agreement. <br /> <br />B. Certificate of an authorized member of Grantee with resolution of Grantee authorizing <br />execution and delivery of this Agreement and any other documents described in this <br />Agreement. <br /> <br />C. The Certification Regarding Debarment, Suspension, Ineligibility, and Voluntary <br />Exclusion – Lower Tier Covered Transactions as set forth in Exhibit C. <br /> <br />Section 1.03 Use of Funds. Grantee agrees to use the Funds solely for the purposes and <br />activities described in the Project Activities. The Grant shall not be used for (a) costs in the Project <br />Activities that are not eligible Program Activities, or (b) administration expenses (each an <br />“Ineligible Activity”). Labor costs are only eligible to be covered if the labor is done by a third- <br />party who has no financial interest in the Project or the premises where the Project is located, other <br />than the value of such work. <br />