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19 <br />conditions set out in Sections II and III have been satisf ed or waived in writing by the Fund, and <br />subject to all other provisions of this Grant Agreement <br />1.3 Other Uses Prohibited Grant funds may not be used for any purpose other than <br />those described in paragraph 1.2. <br />1.4 Grant Disbursement Period The Fund's commitment to disburse Grant funds under <br />this Grant Agreement shall cease on <br />SECTION II <br />Conditions Precedent for Disbursement of An Grant Funds <br />Before any Grant fixnds are disbursed for the acquisition of the Property (the "Property <br />Acquisition"), the Grantee shall deliver to the Fund the following items: <br />2.1. Document to Be Provided b the Grantee. As a local government or other political <br />subdivision of the State of North Carolina, or a combination of such entities, it or they shall provide <br />the Fund authorization from the governing boazd or other appropriate authority to perform the <br />functions and obligations of Grantee set out in this Grant Agreement <br />. 2.2. Matchin~Funds. Proof of availability of matching funds, if required by the Grant <br />approval. - - <br />2.3. Compliance with Laws. Evidence satisfactory to the Fund that the Property and its <br />intended uses are, and will continue to be, in compliance with all applicable laws, regulations and <br />ordinances, including without limitation, land use, health and environmental protection laws and <br />zoning laws. <br />SECTION III <br />Conditions Precedent for Pro e A uisitian <br />Grant funds for the Property Acquisition may be disbursed at Closing for the purchase, or <br />may be reimbursed subsequent to Closing. In either case, the Fund shall disburse Grant funds for <br />the Property Acquisition only after all of the following items have been delivered to and approved <br />by the Fund as satisfactory in form. and substance and, where appropriate, have been properly <br />executed and/or recorded at Closing of the Property Acquisition: <br />3.1. Purchase Agreement or Option. Copy of the purchase agreement or option to <br />Grantee which sets forth the teens of the Property Acquisition. <br />3.2. Proposed Deed. Proposed General Warranty Deed (the "Deed's or other instrument <br />of conveyance, which indicates Grantee's ownership and possession of fee simple title, flee and <br />cleaz of any liens, chazges or encumbrances that would materially affect the use of the Property as <br />set forth in the Conservation Easement. The general watraniy deed shall include such restrictions <br />Orange County 99A-~17 Contract.doc 12/07/99 9:32 AM 2 <br />