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6 <br /> 2. Town Obligation. Town shall be responsible for receiving the grant from Orange County, <br /> and together with matched Town resources, remit them to Launch, Inc. for operation and rent to <br /> support a Small Business Accelerator to assist in the growth of businesses in Orange County. <br /> 3. Term. The term of this Agreement shall commence the 1 st day of January 2022 and shall <br /> continue for a period of thirty-six (36)months, expiring on 12/31/24. Any such renewal, or any <br /> other modification, shall be accomplished through a mutually agreed upon written amendment to <br /> this Agreement and may be approved and executed by the managers of the County and Town. <br /> 4. Reporting. Town shall on or before July 1 annually during the term of this Agreement <br /> provide a report to the Orange County Manager detailing the expenditure of the grant funds <br /> described in Section 1 above. Upon request by County, Town shall provide County with any <br /> audit or underlying documents necessary to verify the contents of the annual report. In the event <br /> such report or documents are not provided County may suspend grant installments until such <br /> time as the report or documents are provided. <br /> 5. Force Maieure/Emergency Non-Appropriation. In the event Town or County should be <br /> delayed in, or prevented from, performing or carrying out any of the agreements, covenants, or <br /> obligations made by, and imposed upon, said Parry by this Agreement, by reason of or through <br /> any cause reasonably beyond its control and not attributable to its neglect, including but not <br /> limited to condemnation, order of any court granted in any bona fide adverse legal proceeding or <br /> action, explosion, fire or other act of God or public enemies, and/or emergency non- <br /> appropriation, then, in each such case or cases, the affected Party shall be relieved of <br /> performance under this Agreement. <br /> 6. Termination. The County and Town may terminate this Agreement upon mutual written <br /> agreement approved by the County's and Town's managers. Either County or Town may <br /> terminate this Agreement upon a material breach by the other. Material breach includes but is <br /> not limited to the failure by Town to expend grant funds as required by this Agreement. <br /> Effective the date of termination any termination of this Agreement relieves County of any <br /> further responsibilities or obligations established by this Agreement. <br />