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<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 all judgments,
<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 sums 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) days prior to its desired payment date. All requirements under this Grantee
<br /> Acknowledgment and Agreement must be met before payment will be made. If the grant is conditional or
<br /> contingent,all conditions and contingencies must be met before payment will be made.
<br /> 12. The Grantee agrees to submit an Interim Report to the Foundation annually,to be received by the Foundation by
<br /> June 30. The Grantee agrees to submit a Final Report for receipt by the Foundation within sixty(60)days after
<br /> the completion of all obligations for the project funded. The Grantee will furnish additional or further reports if
<br /> so requested by the Foundation on forms prescribed by the Foundation. Failure to submit a required report by
<br /> the scheduled submission date will result in the withholding of any subsequent grant payment until the
<br /> Foundation receives the delinquent report.
<br /> 13. The Grantee agrees to maintain full, accurate and verifiable financial records, supporting documents, and all
<br /> other pertinent data for the project funded in such a manner so as to identify and document clearly the
<br /> expenditure of Foundation funds provided, separate from accounts for other awards,monetary contributions,or
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<br /> BOCC Meeting, January 22, 2009, Page 34 /39
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