2010 - 01-04-2010 Regular Meeting

Home Browse Search

goon 2`? ia:E c?6~ meeting the project services which are the subject of this Agreement, and the determination of whether satisfactory progress has been made shall be in the discretion of the CITY. If for any reason the payment of grant funds is suspended or terminated, the LCEDC agrees to promptly remit to the CITY all payments previously received by the LCEDC which the CITY deems to have been paid and received in violation of this Agreement. (7) If for any reason the project as described in Exhibits "B" and "D" shall not satisfy the minimum conditions as set forth in those exhibits, then LCEDC shall seek reimbursement of any deficiency from the party who received the incentives made possible by this grant or appropriation and upon receipt of same shall remit them promptly to the CITY. (8) Any and all alterations in the restrictions and conditions upon the grant of funds herein or alterations in the amount of this Budget attached hereto shall be subject to prior review and written approval by the CITY. (9) This Agreement and the grant funds which are the subject of this Agreement are expressly non-assignable without the prior written consent and approval of the CITY. (10) Non-expendable property purchased under this Agreement shall remain the property of the LCEDC, unless the attached conditions or Budget provide that such property shall become the property of the CITY. (11) The attached Exhibits are: a) The Budget; b) Purposes and/or Restrictions/Conditions (including Exhibit D); and C) Report Requirements. With the exception of the amount of the Budget and item (11)(b), the City Manager is authorized to approve the Exhibits to the Agreement to the extent not prescribed in the grant appropriation. IN WITNESS WHEREOF, the CITY has caused this Agreement to be duly executed in its behalf, and the LCEDC has caused the same to be duly executed in its behalf as of the date first above written. 19 of 26