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BOOK 231
<br />7) The Grantee confirms that the Internal Revenue Service has determined that the Grantee is now an organization
<br />described in Section 501(c) (3) of the Internal Revenue Code of 1986, as amended, or is a federal, state or local
<br />governmental unit. Grantee agrees to notify the Foundation promptly if the Grantee's tax - exempt status is
<br />revoked or modified in any way. It agrees that it will use the funds from this grant only for charitable,
<br />educational, or scientific purposes within the meaning of Section 501(c)(3) of the Code, and that it will not use
<br />the funds from this grant in any way that would result in or give rise to private inurement or private benefit. The
<br />Grantee agrees that no funds from this grant will be used to carry on propaganda or otherwise to attempt to
<br />influence legislation, to influence the outcome of any public election, or to carry on directly or indirectly any
<br />voter registration drive. The Grantee agrees that it will not use any of these grant funds to make any grant that
<br />does not comply with the requirements of Section 4945(d)(3) or (4) of the Code or to undertake any activity for
<br />any purpose other than one specified in Section 170(c)(2)(B) of the Code. Unless otherwise agreed by the
<br />Foundation, no portion of the Grantee's rights or obligations under this Agreement may be transferred or
<br />assigned to any other entity.
<br />8) The Grantee accepts and will retain full control of the disposition of funds awarded to the Grantee by the
<br />Foundation under this grant, and accepts and will retain full responsibility for compliance with the terms and
<br />conditions of the grant. Grant funds shall be utilized exclusively for the purposes set forth above, and if any
<br />portion of the grant is not used for these purposes, the Grantee agrees to repay such portion to the Foundation.
<br />If the Grantee breaches any of the covenants or agreements contained in this Agreement, or any of the
<br />representations and warranties are untrue as to a material fact, the Grantee agrees to repay to the Foundation the
<br />full amount of this grant. Any condition, purpose, term or provision in the Foundation's resolution approving
<br />funding or in this Agreement shall take precedence over any conflicting provision in the Grantee's application.
<br />9. The Grantee is in material compliance with all federal, state, county, and local laws, regulations, and orders that
<br />are applicable to the Grantee, and the Grantee has timely filed with the proper governmental authorities all
<br />statements and reports required by the laws, regulations, and orders to which the Grantee is subject. There is no
<br />litigation, claim, action, suit, proceeding or governmental investigation pending against the Grantee, and there is
<br />no pending or (to the Grantee's knowledge) threatened litigation, claim, action, suit, proceeding or governmental
<br />investigation against the Grantee that could reasonably be expected to have a material adverse effect upon the
<br />Grantee's ability to carry out this grant in accordance with its terms. The Grantee has timely paid alljudgments,
<br />claims, and federal, state, and local taxes payable by the Grantee the non - payment of which might result in a lien
<br />on any of the Grantee's assets or might otherwise adversely affect the Grantee's ability to carry out this grant in
<br />accordance with its terms.
<br />10. The Grantee agrees to immediately notify the Foundation of anything that may materially affect the Grantee's
<br />ability to perform the project funded. If the Grantee proposes to modify the budget, the objectives, or any other
<br />feature of the project funded, it shall not expend any funds from this grant for such purposes unless the
<br />Foundation has approved such proposed modifications in writing. Moreover, no further payments shall be made
<br />to the Grantee in connection with the project funded unless and until the Foundation has approved such
<br />proposed modifications in writing.
<br />11. The Grantee acknowledges that grant funds shall be paid to the Grantee only when those suns are needed to
<br />carry out the project funded and the Grantee has submitted a written request for payment. A sum equal to twenty
<br />percent (20 %) of the total amount of the grant will be retained by the Foundation until the Grantee completes its
<br />obligations under this grant, including its submission of a final report on the project funded. Each request for
<br />payment shall be in writing and shall certify that the Grantee has performed in accordance with the terms and
<br />provisions of its Grantee Acknowledgment and Agreement, and that such Grantee is entitled under the terms of
<br />such Agreement to receive the amount so requested. Each request should be made to Mr. Dan Gerlach,
<br />President, The Golden LEAF Foundation, 301 N. Winstead Avenue, Rocky Mount, NC 27804. Payment should
<br />not be requested until the Grantee has need for actual expenditures of the funds. Grantee should request
<br />payment at least thirty (30) clays prior to its desired payment date. All requirements under this Grantee
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