Agenda Packets - 2024/02/12 - Laserfiche WebLink

Home Browse Search

Section 1.02 Use of Funds. Subgrantee agrees to use the Subgrant solely for fagade improvements (the "Improvements") only at the Premises, as defined herein. The Subgrant shall not be used for costs not included in this Subgrant Agreement, the Grant Agreement, or administration expenses (each an "Ineligible Activity"). Labor costs are only eligible to be covered for fagade improvements only 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. Section 1.03 Subgrant Term. The Improvements shall be completed in a timely manner and all requests for reimbursement will be submitted no later than December 31, 2024 (the "End Date"). Section 1.04 Disbursement of Subgrant Funds. Pursuant to the Grant Agreement between Authority and Subgrantor, Subgrantor shall have received the Subgrant Funds prior to accepting requests for Subgrant Funds. Subgrantor will disburse Subgrant Funds to Subgrantee, in response to written reimbursement requests ("Reimbursement Requests") submitted to Subgrantor by Subgrantee, certifying that such expenses were all Eligible Activities for the use of Subgrant Funds. The Reimbursement Requests must be accompanied by copies of bills and invoices from third parties for which Subgrantee seeks reimbursement. Subject to verification of the facts contained in each Reimbursement Request and a determination of compliance with the terms of this Subgrant Agreement, Subgrantor will disburse the approved amount to Subgrantee within fifteen (15) days of receipt of the Reimbursement Request from Subgrantee. Subgrantee shall provide written verification of receipt of Subgrant Funds in the form of Exhibit A. Section 1.05 Unused Subgrant Funds. Any Subgrant Funds not previously disbursed to Subgrantee for any reason shall not be bound by the terms of this Subgrant Agreement and may be returned by Subgrantor to Authority, upon (a) the completion of the Improvements; (b) the End Date; or (c) the termination of this Subgrant Agreement pursuant to Section 4.02, whichever comes first. Section 1.06 Business Subsidy. The parties hereto agree and acknowledge that the Subgrant does not constitute a business subsidy under Minnesota Statutes § § 116J.993 to 116J.994, as amended, because the assistance is less than $150,000.00. ARTICLE 2 INSURANCE AND INDEMNIFICATION Section 2.01 Insurance. Subgrantee will purchase and maintain commercially reasonable insurance as will protect it from claims which may arise out of, or result from, its operations related to this Subgrant Agreement, whether such operations be by Subgrantee or by any subcontractor, or by anyone directly employed by them, or by anyone for whose acts any one of them may be liable. Subgrantee shall provide Certificates of Insurance upon request of Subgrantor or Authority throughout the term of this Subgrant Agreement. Subgrantee shall also provide the following: A. Automobile Insurance. Coverage shall be provided for hired, non -owned and owned auto with minimum limits of $1,000,000 combined single limit. D-3