2010 030 Ordinance - Laserfiche WebLink

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GRANT AGREEMENT City of Mayfield Village fVOPEC, Inc. This Grant Agreement (tFie "Agreement") is made and entered into by and between the NOPEC, Inc. (hereinafter referred to as the "NOPEC"), and the City of Mayfield Village (hereinafter referred to as the "Grantee"), for solar panels on police station. NOW, THEREFORE, in consideration of the foregoing and the mutual promises and covenants hereinafter set forth, the parties hereby agree as follows: 1. Grant of Funds. NOPEC hereby grants a Powering Our Communities. Grant, funded by First Energy Solutions Corp. to Grantee in the amount of fifty thousand dollars ($50,000.00) for the purposes set forth in the "Grant Application" and any amendments or additions thereto, which are incorporated into this agreement as if fully restated herein. Funds shall be paid on the following schedule: Distribution 1: $12,500.00 Date: Begin July / upon agreement signature Distribution 2: $12,500.00 Date: Begin September/commence project Distribution 3: $25,000.00 Date: End August/project completion report 2. Use of Funds. Grantee shall use the Funds granted pursuant to this Agreement and any and all interest income for obligations incurred in the performance of the Agreement and the expenditures shall be supported by contracts, invoices, vouchers, and other data as appropriate, evidencing the costs incurred. Grantee shall use the Funds only as specified in the Grant Application, as may have been amended by the Parties prior to award. If Grantee does not expend the Funds in accordance with the terms, conditions and time period set forth in this Agreement or if the total amount of the Funds and any and all interest income exceeds the eligible costs of the Project, Grantee shall return the amounts improperly expended or not expended to NOPEC within thirty (30) days after the expiration or termination of this Agreement. Grantee shall not engage in any activity on behalf of NOPEC, nor take any action, that jeopardizes iVOPEC's status as a nonprofit organization under section 501(c) (3) of the Internal Revenue Code. 3. Accounting of Funds. The Funds and any and all interest income there from shall be deposited and maintained in a separate account upon the books and records of Grantee. Grantee shall keep all Grant funds and make all disbursements and expenditures consistent with the manner in which all public funds are kept by Grantee. 4. Term. The parties agree that this Agreement shall begin on July 1, 2010 and shall expire on December 31, 2019 unless the term of this Agreement or NOPEC's Master Agreement with First Energy Solutions Corp. is modified or terminated or the Agreement is terminated in accordance with the ? (