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8 <br /> 7. Payment of Grant Funds. <br /> (a) Grant funds are awarded based on a commitment of matching funds to the project. NCLWF <br /> expects that its final portion of the total project cost will be no more than the percentage of <br /> funds originally committed to in the Grant Contract. As funds are requested from NCLWF, <br /> the Grant Recipient should be demonstrating expenditure of match. <br /> (b) The Acquisition and the recording of the General Warranty Deed, Conservation Agreement, <br /> and/or Assignment as may be applicable, shall be referred to herein as the "Closing." Grant <br /> funds may be paid at Closing provided Grant Recipient has complied with the terms of Section <br /> 6 above and with all pre-Closing requirements as set forth in Exhibit D. <br /> (c) Grant Recipient may be reimbursed for itemized Project expenses (i.e. appraisal, survey, etc.) <br /> prior to or subsequent to Closing, at the Fund's discretion, upon submittal of the following <br /> documentation via the Fund's online grants management system and the appropriate forms <br /> contained thereon: <br /> i. A copy of invoices or other documentation submitted to the Grant Recipient showing the <br /> itemized expenses. Grant Recipient shall identify any sales tax for which reimbursement <br /> has been or will be obtained from the State Department of Revenue, and such monies <br /> shall not be reimbursed; <br /> ii. A written report containing a detailed narrative of the progress of the Project submitted <br /> within the three(3)months prior to the reimbursement request; and <br /> iii. A completed request for reimbursement via the Fund's online grants management <br /> system,stating that the Grant Recipient complied with all terms of this Grant Contract in <br /> incurring the expenses. <br /> (d) NCLWF may,upon request, disburse Grant funds prior to the closing of the Acquisition by the <br /> Grant Recipient,if costs are documented by unpaid third-party invoices. In order for NCLWF to <br /> pay Grant funds to the Grant Recipient based upon an unpaid third-party invoice, the Grant <br /> Recipient shall submit the following documentation via the Fund's online grants management <br /> system and the appropriate forms contained thereon: <br /> i. A copy of invoices or other documentation submitted to the Grant Recipient showing <br /> the itemized expenses. Grant Recipient shall identify any sales tax for which <br /> reimbursement has been or will be obtained from the State Department of Revenue, <br /> and such monies shall not be reimbursed; <br /> ii. A written report containing a detailed narrative of the progress of the Project submitted <br /> within the three (3)months prior to the reimbursement request; and <br /> iii. A completed request for reimbursement,stating that the Grant Recipient complied with <br /> all terms of this Grant Contract in incurring the expense, reviewed and has approved <br /> the unpaid third-party invoice, and certifies to the Fund that the unpaid third-parry <br /> Orange County,North Carolina(NCLWF 2020-048 Moorefields Estate) <br /> Final—November 30,2020 Page 4 of 27 <br />