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Rural Economic Development Grant Agreement, Private Owner <br />BUILDING REUSE PROGRAM – Revision #3 2020-025-3201-2587 <br /> <br />Grant Agreement - 4 <br /> <br />expenditure of Grant funds (including Loan funds). Administrative expenses of the <br />Governmental Unit are not eligible for Grant funding and any such use of Grant funds will <br />violate this Grant Agreement. <br />5. Independent Status of the Governmental Unit. <br /> <br /> (a). The Governmental Unit is an entity independent from the Rural Authority and <br />Commerce. The Grant Agreement, the LBC, the Project and any actions taken <br />pursuant to them shall not be deemed to create a partnership or joint venture between <br />or among Commerce, the Rural Authority, the Governmental Unit or any third party <br />(including, without limitation, the Owner or any Business). Nor shall the Grant <br />Agreement, the LBC or the Project be construed to make the Governmental Unit <br />(including its employees, agents, members or officials) or any third party (including, <br />without limitation, the Owner or any Business) employees, agents, members or <br />officials of Commerce or the Rural Authority. Neither the Governmental Unit nor <br />any third party (including, without limitation, the Owner or any Business) shall have <br />the ability to bind Commerce or the Rural Authority to any agreement for payment of <br />goods or services or represent to any person that they have such ability. <br /> (b). The Governmental Unit shall be responsible for payment of all of its expenses, <br />including rent, office expenses and all forms of compensation to employees. The <br />Governmental Unit shall provide worker's compensation insurance to the extent <br />required for its operations and shall accept full responsibility for payments of <br />unemployment tax or compensation, social security, income taxes, and any other <br />charges, taxes or payroll deductions required by law in connection with its operations, <br />for itself and its employees who are performing work pursuant to this Grant <br />Agreement. All expenses incurred by the Governmental Unit are its sole <br />responsibility, and neither Commerce nor the Rural Authority shall be liable for the <br />payment of any obligations incurred in the performance of the Project. <br /> <br />6. Method of Payment. Commerce shall pay the Grant funds to the Governmental Unit in <br />accordance with the Payment Schedule attached hereto as Exhibit B after receipt of written <br />requests for payment from the Governmental Unit certifying that the conditions for such <br />payment under this Grant Agreement have been met and that the Governmental Unit is <br />entitled to receive the amount so requested and any other documentation that may be <br />required by Commerce. <br /> <br />7. Obligation of Funds. The Governmental Unit shall not obligate Grant funds prior to the <br />Effective Date or subsequent to the Termination Date of this Grant Agreement. All <br />obligations outstanding as of the Termination Date shall be liquidated within thirty days. <br /> <br />8. Project Records. <br /> <br /> (a). The Governmental Unit shall maintain full, accurate and verifiable financial records, <br />supporting documents and all other pertinent data for the Project in such a manner as <br />to clearly identify and document the expenditure of the State funds provided under <br />this Grant Agreement separate from accounts for other awards, monetary <br />11