Agenda Packets - 2023/02/27 - Laserfiche WebLink

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H. The Authority has concluded that the Grantee has the necessary expertise, skill and ability to successfully complete the Project and that the Project is in the best interests of the Authority and will positively contribute to meeting the goals of the Program. I. The Authority agrees to provide a Grant in the amount of Fifty Thousand and no/100's ($50,000.00) (the "Funds") to the Grantee pursuant to the Program and Resolution No. H2022-12. NOW THEREFORE, in order to induce the Authority to make the Grant to the Grantee consideration of the mutual covenants and agreement contained herein, the Authority and the Grantee agree as follows: ARTICLE 1: TERMS OF GRANT 1.01 Grant Amount. The Authority agrees to provide this Grant to the Grantee in the amount of not to exceed Fifty Thousand Dollars and no/100's, ($50,000.00) upon the terms and conditions and for the purposes set forth in this Agreement. The Grant constitutes a grant of funds and no portion of the Grant is to be repaid by the Grantee to the Authority unless mutually agreed to by all parties as part of this Agreement or an Event of Default (as defined below) occurs. 1.02 Documents Delivered with Agreement. Prior to, or contemporaneously with the execution of this Agreement, Grantee has delivered to Authority the following documents and/or instruments, each of which will be in a form acceptable to Authority. A. Evidence of the insurance coverages required by this Agreement in a form acceptable to Authority, to be submitted on an annual basis on the anniversary date of this Agreement. B. Certificate of an authorized member of Grantee with Resolution of Grantee authorizing the execution and delivery of this Agreement and any other documents described in this Agreement. C. The Certification Regarding Debarment, Suspension, Ineligibility, and Voluntary Exclusion — Lower Tier Covered Transactions as set forth in Exhibit C. 1.03 Use of Funds: The Grantee agrees to use the Funds solely for the purposes and activities described in the Project Activities. The Grant shall not be used for (a) costs in the Project Activities that are not labeled as Eligible Uses, or (b) administration expenses (each an "Ineligible Use"). Labor costs are only eligible to be covered if the labor is done by a third -party who has no financial interest in the Premises, as defined herein, other than the value of such work. 1.04 Grant Term: The Project Activities shall be completed in a timely manner and all Grant funds will be expended no later than December 31, 2023 (the "End Date"). 1.05 Disbursement of Funds: 2