Orange County NC Website
Browse       Search
Rural Economic Development Grant Agreement, Private Owner <br />BUILDING REUSE PROGRAM – Revision #3 2020-025-3201-2587 <br /> <br />Grant Agreement - 7 <br /> <br />attorneys’ fees, fines, penalties and civil judgments, resulting from or arising out of or in <br />connection with or pertaining to, any loss or damage to property or any injury to or death of <br />any person occurring in connection with the Project, or resulting from any defect in the <br />fixtures, machinery, equipment or other property used in connection with the Project or <br />arising out of, pertaining to, or having any connection with, the Project or the financing <br />thereof (whether arising out of acts, omissions, or negligence of the Governmental Unit or <br />of any third party (including, without limitation, the Owner and the Business), or of any of <br />their agents, contractors, servants, employees, licensees, lessees, or assignees), including <br />any claims and losses accruing to or resulting from any and all subcontractors, material <br />men, laborers and any other person, firm or corporation furnishing or supplying work, <br />services, materials or supplies in connection with the Project. <br /> <br />12. Governmental Unit Representations and Warranties. The Governmental Unit hereby <br />represents and warrants that: <br /> <br /> (a). The execution and delivery of this Grant Agreement have been duly authorized by all <br />necessary Governmental Unit action and are not in contravention of law or in <br />contravention of the provisions of any indenture agreement or undertaking to which <br />the Governmental Unit is a party or by which it is bound. <br /> (b). There is no action, suit proceeding, or investigation at law or in equity or before any <br />court, public board or body pending, or to the knowledge of the Governmental Unit, <br />threatened against or affecting it, the Owner or the Business, that could or might <br />adversely affect the Project or any of the transactions contemplated by this Grant <br />Agreement or the validity or enforceability of this Grant Agreement or the abilities of <br />the Governmental Unit or the Owner to discharge their obligations under this Grant <br />Agreement. If it is subsequently found that an action, suit, proceeding, or <br />investigation did or could threaten or affect the development of the Project, the <br />Governmental Unit shall be liable to Commerce for repayment of the entire amount of <br />the Grant and this Grant Agreement may be terminated by Commerce effective upon <br />notice. <br /> (c). No consent or approval is necessary from any governmental authority as a condition <br />to the execution and delivery of this Grant Agreement by the Governmental Unit or <br />the performance of any of its obligations hereunder, or all such requisite <br />governmental consents or approvals have been obtained. The Governmental Unit <br />shall provide Commerce with evidence of the existence of any such necessary <br />consents or approvals at the time of the execution of this Grant Agreement. <br /> (d). The Governmental Unit is solvent. <br /> (e). A cash match grant, loan or other funding (“Cash Match”) equal to the amount of the <br />Loan shall have been unconditionally committed to the Project. The Governmental <br />Unit shall have procured and contributed at least five percent (5%) of this Cash <br />Match, but no part of this 5% contribution can have derived, either directly or <br />indirectly, from any other State or federal source. All Cash Match funds shall be <br />utilized exclusively for the purpose of the Project, and there shall be no improper <br />expenditures of Cash Match funds. All Cash Match funds shall be expended prior to <br />or simultaneously with and at the same rate as the Owner’s expenditure of Loan <br />14