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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 /> <br />3. Term. The term of this Agreement shall commence the 1st 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 /> <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 /> <br />5. Force Majeure/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 Party 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 /> <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 /> <br /> <br /> <br /> <br /> <br />DocuSign Envelope ID: 3E20E318-A840-4661-8EF2-4F272AB386D8