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1.02 Material Representations. The Grantee agrees that all representations contained in its application for grant assistance are material representations of fact upon which the Council relied in awarding this grant and are incorporated in this agreement by reference. 1.03 Grantee Certification. ee certifies that the grant funds to be distributed pursuant to this agreement will be applied to the purposes stated in this agreement. 1.04 Governing Body Resolution. Grantee will provide the Council with a copy of a resolution by its governing body which authorizes the Grantee to enter into this agreement. H. .AUTHORIZED USE OF GRANT PROCEEDS AND MATCHING FUNDS 2.01 Authorized Uses. The Grantee is authorized to use the grant funds only in payment of the line item costs specified in Exhibit B, which is attached to and incorporated in this agreement. No other use of grant funds is permitted. Grant and matching funds may be used only for costs directly associated with Grant Study activities. Grant and matching funds may be used to prepare the Work Plan required by paragraph 5.01 of this grant agreement. 2.02 Unauthorized Uses of Grant Proceeds. Grant funds cannot be used to purchase land, buildings, or other interests in real property, or to pay overhead or indirect costs, legal fees, or permit, license, or other authorization fees, unless specifically approved in advance by the Council's Grant Manager. 2.03 Reversion of Unexpended Funds. All funds granted by the Council under this • agreement that have not been expended for grant activities taking place during the Project Activity Period shall revert to the Council. 2.04 Grant Study Equipment and Supplies. Grant and matching funds may be used to purchase or lease equipment, machinery, supplies, or other personal property directly necessary to conduct the Grant Study. The Grantee will comply with the personal property management requirements described in paragraph 7.10 of this agreement. III. GRANT AMOUNT AND DISTRIBUTION 3.01 Total Grant Amount. The Council shall pay to the Grantee a total grant amount of $10,000. Provided, however, that in no event will the Council's obligation under this agreement exceed the lesser of a. the Total Grant Amount of$10,000; or, b. fifty percent (50%) of total Grant Study expenditures. The Council shall bear no responsibility for cost overruns which may be incurred by the Grantee in performance of the Grant Study. 3.02 Grantee's Match. The Grantee has an obligation under this grant agreement to share in the costs of the Grant Study by providing at least a fifty percent (50%) cash or in-kind match. Accordingly, the Grantee agrees to provide $10,000 in matching funds during the Project -2-