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<br />GRANT AGREEMENT FOR HUGO BUSINESS COVID-19 RELIEF FUND <br /> <br /> This Agreement (“Agreement”) is between City of Hugo, 14669 Fitzgerald Avenue North, and <br />(GRANTEE’s Name) _____________________________________ (“GRANTEE”), <br />________________________________________________________________________ (GRANTEE’s <br />address). <br /> <br /> WHEREAS, the Hugo City Council (the “Council”) has approved the disbursement of funds it has <br />received under the federal Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) to the City <br />of Hugo (the “City”) for use by local businesses; and <br /> <br /> WHEREAS, the Council has distributed a portion of the Funds to the Hugo Business COVID-19 <br />Relief Fund; <br /> <br /> WHEREAS, GRANTEE has made an application for an award and has been selected for funding in <br />accordance with the terms of this Agreement; and <br /> <br /> WHEREAS, the City has determined that GRANTEE meets the requirements to receive an award <br />of funding. <br /> <br />The City and GRANTEE agree as follows: <br /> <br />1. TERM AND AMOUNT OF GRANT <br /> <br />This Agreement is in effect from the date that the City and GRANTEE have both signed it. The <br />total amount of this grant is ______________ (not to exceed $10,000.00). <br /> <br />2. GRANT REQUIREMENTS <br /> <br />By entering into this Grant Agreement, GRANTEE certifies that it is a locally owned and operated <br />for-profit business with a physical establishment in the City of Hugo or is a locally operated non- <br />profit organization that serves within the City of Hugo. GRANTEE must certify that as of March 1, <br />2020, all of the following are true and correct: <br /> <br />• GRANTEE earned under $3.5 million in annual revenue; and <br />• GRANTEE had been operating for at least 6 months prior to March 1, 2020. <br /> <br />GRANTEE acknowledges that the source of funds for this Agreement are federal CARES Act funds <br />provided to the City of Hugo and approved for disbursement by the Hugo City Council. GRANTEE <br />acknowledges that the Grant Funds are subject to CARES Act requirements, and that Grant <br />Funds may be subject to federal and state taxes. <br /> <br />GRANTEE further certifies that as of the date this Agreement is signed, all of the following are <br />true and correct: <br /> <br />• GRANTEE is in good standing with the City and County; <br />• GRANTEE is current on property taxes that were ordinarily due and payable on or before <br />May 15, 2020;