Agenda Packets - 2023/02/27 - Laserfiche WebLink

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3.04 Anti -Displacement and Relocation. Grantee shall take all reasonable steps to minimize displacement of persons and businesses as necessary for implementation of the Project Activities. Grantee shall conduct all property acquisitions in its name, or in the name of another eligible organization acceptable to the Authority, which shall hold title to all real property acquired. Borrower shall prepare all notices, appraisals, and documentation required in conducting acquisition under the latest applicable state or federal regulations, as applicable, and provide all relocation notices, counseling, and services. The Grantee also agrees to comply with applicable all applicable ordinances, resolutions and policies concerning the displacement of persons from their residences or businesses. In the event that it is determined that any individual or business is entitled to relocation assistance as a result of acquisition, rehabilitation, demolition or conversion of property related to the Project Activities, Grantee will be solely responsible for all such expenses. In the event of litigation regarding entitlement to relocation expenses or other assistance, Borrower will be solely responsible for the cost of such litigation. ARTICLE 4: DEFAULT AND REMEDIES 4.01 Event of Default: Any and all of the following events shall constitute an "Event of Default" under this Agreement: A. Grantee uses any portion of the Grant proceeds for purposes other than specified herein including a redevelopment concept plan for mixed -use development including housing. B. Grantee fails to comply with any of the terms, conditions, requirements, representations, warranties or provisions contained in its Application, this Agreement or any other Authority document. C. Any of the information, documentation or representations that Grantee supplied to the Authority in its Application, this Agreement or any other Authority document to induce the Authority to make the Grant is determined to be false, untrue, or misleading in any material manner. 4.02 Remedies: Upon the occurrence of an Event of Default, the Authority may immediately, without notice to Grantee, suspend its performance under this Agreement. After providing thirty (30) days written notice to Grantee of an Event of Default, but only if the alleged Event of Default has not been fully cured within said thirty (30) days by Grantee, the Authority may: (a) refrain from disbursing any further Funds' (b) demand that any amount of Funds already disbursed to Grantee be immediately returned to the Authority, and upon such demand, Grantee shall immediately return such proceeds to the Authority; (c) terminate this Agreement by written notice; and (d) pursue whatever action, including legal, equitable or administrative action, which may appear necessary or desirable to collect all costs (including reasonable attorneys' fees) and any amounts due under this Agreement or to enforce the performance and observance of any obligation, agreement, or covenant hereof. 2