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Agreement between Cuyahoga County Board of County Commissioners and Mayfield Village <br />B. Upon successful completion of ANCHOR's obligation under this Agreement, <br />ANCHOR will be eligible for a grant of up to $20,000.00 from the COUNTY <br />(hereinafter referred to as "Grant Award"). <br />C. The Grant Award will be disbursed in two payments. ANCHOR will be eligible to <br />receive the first payment in an amount not-to-exceed one-half of the Grant Award <br />once the ANCHOR and the COUNTY have executed this Agreement. COUNTY <br />shall disburse the first payment within a reasonable time after receipt of ANCHOR'S <br />written request to the COUNTY for disbursement. <br />Upon completion of Deliverables by ANCHOR, and receipt and acceptance of <br />Deliverables by COUNTY, as outlined in Section 2, the ANCHOR will be eligible to <br />receive up to the remaining balance of the Grant Award, provided, however, that the <br />ANCHOR must first submit a written request for disbursement which includes <br />submission of proof of costs incurred, with supporting documentation evidencing <br />payment of expenses for the amount disbursed plus the full amount of the matching <br />funds, in the form of the Budget Detail attached hereto as Attachment B. <br />D. Funds must be used in compliance with the guidelines provided in Attachment A. <br />5. REPORTS AND RECORDS <br />A. ANCHOR shall provide progress reports in written form to the COUNTY concerning <br />the status of completion at sixty (60) days and one hundred twenty (120) days from <br />the date of execution of this Agreement. Reports will document expenditures for costs <br />in respect to progress and status of completion of the Deliverables, as outlined in <br />Section 2. <br />B. Records shall be maintained with respect to all matters covered by this Agreement. <br />Except as otherwise authorized, such records shall be maintained for a period of four <br />years after receipt of the final payment under this Agreement. <br />6. INTELLECTiTAL PROPERTY <br />A. All intellectual property, whether or not such property is copyrightable or patentable, <br />which is invented, discovered, developed, or first reduced to practice as a result of, or <br />in connection with the work products produced or services provided, shall be <br />considered works-made-for-hire and shall remain the exclusive property of <br />COUNTY. In the event that the copyright or other intellectual property right(s) <br />generated while providing services does not vest in COUNTY by operation of law, <br />ANCHOR hereby agrees to assign and does hereby assign COUNTY such copyright <br />and/or intellectual property right(s) to the extent such assignment does not interfere <br />with the ANCHOR's use of said intellectual property rights for purposes consistent <br />H:~Economic Development\Blue Ribbon~Innovation ZonesWpplications\Nlayfield Village~Phase 1lMayfield <br />CIZ Phase 1 Contract DRAFT 07-17-2008.doc <br />