2010 - 11-01-2010 Regular Meeting

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02 -83 -03 BOOK 23 PAGE 777 AGREEi TENT THIS AGREEMENT, entered into this the 17 day of September 2010, by and between the Lee County (hereinafter referred to as "GRANTEE ") and the Rural Economic Development Center, Inc. (hereinafter referred to as "CENTER "), a North Carolina non -profit corporation. WITNESSETH: THAT, WHEREAS, the CENTER was organized for the purpose of stimulating and supporting economic development in the rural areas of North Carolina; and WHEREAS, in its efforts to stimulate and encourage Economic Development in the rural areas of North Carolina, the CENTER contracts with academic, public and private entities for the purpose of engaging in such activities; and WHEREAS, the CENTER has agreed to contract with the GRANTEE to engage in activities to support projects of the CENTER; NOW, THEREFORE, in consideration of the mutual promises and such other valuable consideration as shall be set out herein, the parties hereto do mutually agree to the following terms and conditions: 1. Scope of Program The GRANTEE shall develop, perform and complete the work set out in Exhibit A (hereinafter referred to as the "Project') and said Project being that work described in a proposal entitled "North Plank Rd. Crisis Need Water Petition Project' as approved by the CENTER. Additionally, the GRANTEE agrees to the conditions and regulations for the REDC Supplemental Grants Program as set forth in the Memorandum of Understanding (Exhibit A -1). 2. Changes in the Project (a) If changes or extra work are requested and authorized in writing by the CE'N'TER, the GRANTEE will be available to furnish, or obtain from others, the services required. (b) Any work referred to in paragraph 2(a) above shall be the subject of a separate written agreement between the CENTER and the GRANTEE stating the costs and schedule for completing said extra work. (c) The GRANTEE shall immediately notify the CENTER of any change in conditions or local law, or any other event, which may significantly affect its ability to perform the Project in accordance with the provisions of this paragraph. 3. Term of Agreement The effective period of this Agreement shall commence on 4/29/2010 and shall terminate on 4/29/2011. 4. Funding. (a) Subject to the reduction described below, the CENTER grants to the GRANTEE the amount of $128,160.00, which is the total amount of this agreement for expenditures relating to the Project. In the event that the costs of the project are less than the costs projected in Exhibit A, the grant shall be reduced on a pro rata basis with other project funding.