cabarrus county board of commissioners regular meeting november ...

B. The Grantee shall immediately notify the Commission of any change in conditions orapplicable law or any other event which may significantly affect its ability to perform theProject in accordance with the provisions of Section II above, including but not limited toloss of other funding. In the event of any such significant change, the Commissionreserves the right to terminate this Agreement.Section IV. Funding.A. The Commission grants to the Grantee an amount not to exceed $75,000 for the Project tobe disbursed as described in Section V below.B. The Grantee represents and warrants that all sums as may be awarded under this grantshall be utilized exclusively for the purpose of the Project.C. In the event the Grantee or, if applicable, any of its Subgrantees breaches any of thematerial terms or conditions of this Agreement, the Grantee agrees to repay to theCommission the full amount of sums awarded under this Agreement and any interest thathas accrued on that sum.Section V. Method of Payment.A. After the contract funding stipulations are met and subject to the limitations set forth inSection XI.C., the Commission shall disburse the sum of up to $71,250 in installmentsreimbursing the Grantee for amounts spent on or encumbered for the Project. TheGrantee shall request payments by submitting a Financial Request Form (Exhibit C) tothe Commission no more frequently than monthly. The Financial Request Form shallcertify that the Grantee has performed the work required under the Scope of Services andshall include documentation of the amounts for which the Grantee requestsreimbursement. The Commission shall disburse a check as soon after receiving therequest for funds as possible. The Grantee must show to the Commission’s satisfactionhow this payment has been used to accomplish the terms of the Agreement before anyfurther funding will be disbursed pursuant to this Agreement.B. The Commission shall withhold 5% of the total funding or $3,750 to be disbursed uponthe satisfactory conclusion of the Project which conclusion shall include a Final Report asdescribed in Section VII.E below. If the Grantee does not utilize all grant funds andrequests a final payment that does not include all or part of the 5% amount, the finalpayment will be disbursed once the Final Report is approved. If the Grantee will have theprincipal and interest remaining from Grant funds which it would normally have to payback to the Commission pursuant to Section V.A above, the Commission may at itselection subtract this amount from the final payment due to the Grantee.C. If the Grantee or, if applicable, the Grantee and its Subgrantees, cannot show to thesatisfaction of the Commission that it has or they have spent grant monies to accomplishthe terms of the Agreement, the Commission may decline to disburse money until such ashowing is made.2G-2Attachment number 1Page 354