2020-281-E Economic Dev - KJC CORP emergency grant

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Esbfpgc 043020 v0.2 B. Use of Funds. Grant recipient shall not use the grant funds for any of the prohibited purposes described in the Policies and Procedures. The grant shall be utilized solely for its intended use, as detailed in the Application. C. Maintain Certain Conditions. Grant Recipient shall endeavor to meet the following conditions but in no case fail to meet at least one of the following conditions for at least one year: (a) Job Retention, within six months of the award retain at least 50% of the work force that existed on January 1, 2020 and retain 100% within one year of the award date; (b) Living Wage, pay 90% of Borrower’s work force a living wage of $15 per hour; or (c) Community Participation and Involvement, in kind service, discounts or donation to first responders, healthcare and other front line workers in the amount of at least $250 annually for award recipients with net income of up to $100,000 and at least $500 annually for all others. Any value derived from discounts shall be the result of at least 15% off retail price. Determinations regarding qualifying recipients of in kind services or donations shall be at the sole discretion of the County. Borrower shall supply evidence of compliance through NC Employment Commission reports, IRS 941 Payroll quarterly reports, Orange County Living Wage certificate or, if those are inapplicable, owner affidavit. 4. Indemnity. The Grant Recipient agrees to indemnify and hold harmless the County and their officers and employees from any and all claims of actual injury, damage or loss to a person, or real or personal property that results from or is in any way connected to the use of the grant funds. 5. Termination. A. In the event of any of the circumstances set forth below (hereinafter referred to as “default”), the County may immediately terminate this Agreement: i. Any fraudulent representation on a material matter related to securing and utilizing grant funds under this Agreement. ii. Failure to satisfactorily comply with any provision of this Agreement, any term of the Emergency Small Business Funding Application, and/or any Emergency Small Business Program Guideline, as determined by the Committee in its sole discretion. iii. Failure to adhere to the terms of applicable county, state, or federal laws, regulations, or stated public policy. B. In the event of default by the Grant Recipient, the County has the discretion to elect to terminate this Agreement, in whole or in part and/or require the Grant Recipient to repay the grant funds within thirty (30) days from written notice or allow the Grant Recipient the opportunity to cure the default. This clause shall not be interpreted to limit the County’s remedies in law or equity.