CHARITABLE VENTURES OF ORANGE COUNTY, INC.

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B. Term of Agreement. The term of said Agreement shall commence on the date first written above and continue through D.t%mber 30, 20204"Term"), unless terminated earlier pursuant to the terms of this Agreement. SUBRECIPIENT shall administer said program during said Term pursuant to the Project Schedule attached hereto as Exhibit C. This Agreement shall also cover any and all services provided by the SUBRECIPIENT to the CITY since the date the CARES Act Funds were awarded to the CITY. Additionally, the Term of this Agreement may be extended by a writing executed by the City Manager, or her designee, and the City Attorney. C. Amount of Grant Finding.. The total amount of funds provided for said program shall not exceed Five -Hundred Thousand Dollars ($500,000.00) ("CARES Act Funds") during the Term of the Agreement. SUBRECIPIENT agrees to administer said program as outlined in Exhibit A, and within the terms of this Agreement, and to use said CARES Act Funds to administer said program pursuant to the regulations in Exhibit B. (1) Funds for COVID-19 Arts Relief Program. SUBRECIPIENT will be disbursed funds up to an amount not to exceed Four -Hundred and Eighty: Thousand: Dollars,($480 000.00) to be used solely for grants to eligible participants in said program in accordance with Exhibit A. (2) Administrative Funds. CITY shall make administrative fee payment(s) to SUBRECIPIENT for administering said program in an amount not to exceed Twenty Thousand Dollars ($20,000.00), pursuant to the terms detailed in Exhibit B. D. Disbursement of Funds. Said CARES Act Funds shall be disbursed by CITY to SUBRECIPIENT pursuant to the terms found in the Compensation/Payment attached hereto as Exhibit B, with payments subject to the submittal of invoices and other reporting requirements, as hereinafter more fully set forth. SUBRECIPIENT shall be obligated to perform such duties as would normally extend beyond the term, including, but not limited to, obligations with respect to indemnification, audits, reporting, data retention/reporting, and accounting. Failure to provide any of the required documentation and reporting will cause CITY to withhold all or a portion of a request for CARES Act Funds, or return the entire request to SUBRECIPIENT, until such documentation and reporting has been received and approved by CITY. (1) Reduction in CARES Act Funding. The CITY reserves the right to reduce the amount of CARES Act Funds to SUBRECIPIENT, or to completely terminate this Agreement, in the CITY's sole discretion, if there is a reduction in CARES Act Funds provided to the CITY. (2) Reduced Distribution of Funds. The CITY reserves the right to reduce the grant application if the CITY's fiscal monitoring indicates that SUBRECIPIENT's rate of expenditure will result in unspent funds at the end of the program term. Amendments in the grant allocation will be made after consultation with SUBRECIPIENT. (3) Reversion of Assets. SUBRECIPIENT agrees that any and all funds received under this Agreement shall be disbursed during the Term of this Agreement, and that any and all funds remaining as of the end of the Term, which have not been disbursed, shall be returned by SUBRECIPIENT to the CITY within thirty (30) days of the expiration or earlier termination of the Agreement. No expense of SUBRECIPIENT will be reimbursed by CITY if incurred after the end of the Term of the Agreement. 2