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STATE OF MINNESOTA <br />DEPARTMENT OF TRADE AND ECONOMIC DEVELOPMENT <br />BUSINESS AND COMMUNITY DEVELOPMENT DIVISION <br /> <br />Grant Agreement <br /> <br />#CDAP-99-0224-H-FY00 <br /> <br />AGENCY VENDOR NUMBER OBJECT CODE TOTAL AMOUNT <br />B22~ OD 048216001-00 $300,000 <br /> <br /> ACCOUNT DISTRIBUTION <br /> <br />BFY FUND ORG APPR REPT AMT <br /> $ <br />BFY FUND ORG APPR REPT AMT <br /> $ <br />BFY FUND ORG APPR REPT AMT <br /> $ <br /> <br />I <br />I <br /> <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br />I <br /> <br />This Agreement is made on May 1, 2000, between the State of Minnesota, acting through the <br />Department of Trade and Economic Development (hereinafter the Grantor), and the City of <br />Ramsey (hereinafter the Grantee), 15353 Nowthen Blvd., NW, Ramsey, MN 55303. <br /> <br />RECITALS <br /> <br />The Grantor has been authorized to administer funds pursuant to Minnesota Statute 116J.8731. <br /> <br />The Grantee has made application to the Grantor for a portion of the allocation for the purpose <br />of conducting the project entitled "Mateski Properties, LLC/Systematic Refrigeration, Inc." in <br />the manner described in Grantee's "Application, #CDAP-99-0224-H-FY00" (herein the <br />Application) which is incorporated into this agreement by reference. <br /> <br />The recitals are an integral part of this Grant .Agreement. <br /> <br />In consideration of mutual promises set forth below, the parties agree as follows: <br /> <br />The Grantor shall grant to the. Grantee the total sum of THREE HUNDRED THOUSAND <br />DOLLARS ($300,000), which shall be state funds appropriated under the Minnesota <br />Investment Fund Program by the State Legislature. The Grantee shall perform the <br />activities that are proposed in the Application and are further specified under Special <br />Conditions during the period from May 1, 2000 through May 1, 2002, in accordance with <br />all other applicable State and Federal laws. <br /> <br />Grantee agrees to complete the project in accordance with the approved budget and within <br />the time frames specified in the Grantees Application and this Agreement. Any material <br />change in the scope of the project, budget or completion date must be approved in writing <br />by the Grantor. <br /> <br />Funds made available pursuant to this Agreement shall be used only for expenses <br />incurred in performing and accomplishing such purposes and activities during the grant <br /> <br />-273- <br /> <br /> <br />