Minutes - Feb. 8, 2012 Adjourned Reg. Meeting

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• arc? ?4.1_711 which are the subject of this Agreement and the determination of whether satisfactory progress has been made shall be in the discretion of the COUNTY. If for any reason the payment of grant funds is suspended or terminated, the LCEDC agrees to promptly remit to the COUNTY all payments previously received by the LCEDC which the COUNTY 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 reduce the amount of the grant to the Company in the manner set out in the Agreement Between the Company and the LCEDC. (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 COUNTY. (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 COUNTY. (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 COUNTY. (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 (I 1)(b), the County Manager is authorized to approve the Exhibits to the Agreement to the extent not prescribed in the grant appropriation. IN WITNESS WHEREOF, the COUNTY 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. 10 of 29