Agenda - Council - 07/28/2015 - Laserfiche WebLink

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The Disbursement Request shall be submitted by the Subgrantee at least ten (10) days prior to the date of the requested disbursement. The Disbursement Request shall constitute a representation and warranty by the Subgrantee to the City that all representations and warranties of the Subgrantee set forth in this Agreement are true and correct as of the date of such Disbursement Request, except for such representations and warranties which, by their nature, would not be applicable as of the date of such Disbursement Request. The City will submit a reimbursement request to the Metropolitan Council within 10 business days of receipt of request from Subgrantee. The City will disburse funds as soon as reasonably acceptable upon receipt of funds from the Metropolitan Council. b. At the time of submission of the Disbursement Request, the Subgrantee shall also submit the following to the City: 1. a written lien waiver from each Contractor for completed Improvements which were previously paid or are to be paid for pursuant to such Disbursement Request; 2. evidence satisfactory to the City that the Improvements completed to date have been constructed in accordance with the Plans and Specifications in all material respects; and 3. a certified statement of the Owner reflecting the use to which the proceeds of the Grants have been applied in addition to those uses reflected in the Grant Agreements. c. Compliance with Accounting Audit and Report Requirements. All Disbursement Requests shall demonstrate compliance with the Accounting, Audit and Report requirements as contained in Section III paragraphs 3.01, 3.02 and 3.03 of the Grant Agreements. VII. SUBGRANTEE'S COVENANTS, REPRESENTATIONS, WARRANTIES AND AGREEMENTS Subgrantee covenants, represents, warrants and agrees that: a. Subgrantee is a nonprofit corporation duly incorporated under the laws of the State of Minnesota, is duly authorized to operate in the State of Minnesota, has the power to enter into and execute this Agreement and by appropriate corporate action has authorized the execution and delivery of this Agreement. b. Subgrantee's execution of this Agreement will not result in any breach of or constitute a default under any other mortgage, lease, loan, grant or credit agreement, corporate charter, by-law or other instrument to which Subgrantee is a party or by which it may be bound or affected. c. This Agreement constitutes the legal and binding obligation enforceable against the Subgrantee. 4