Laserfiche WebLink
This exhibit is being provided for informational purposes to provide the applicant the <br />ability for internal review prior to receipt of their std. agreement for executionEX H I B IT 2 <br />Applicant Name <br />20-PLHA-XXXX <br />Page 2 of 3 <br />EXHIBIT B <br />B. It is mutually agreed that if the Budget Act of the current year and/or any <br />subsequent years covered under this Agreement does not appropriate sufficient <br />funds for the program, this Agreement shall be reduced proportionate to those <br />years already allocated, calculated at the time that the appropriation is reduced <br />or terminated and reduced accordingly. All subsequent years shall be terminated, <br />and the grant agreement shall be of no further force and effect, after amounts <br />due for the period upon the reduced appropriation or termination are returned by <br />the Contractor to the State. In this event, the State and Contractor shall be <br />relieved of any and all obligations under this Agreement. If funding for any fiscal <br />year is reduced or deleted by the Budget Act for purposes of this program, the <br />State shall have the sole discretion to cancel this Agreement without cause, no <br />liability occurring to the State, or amend the Agreement and amount allocated to <br />Contractor. <br />4. Fiscal Administration <br />A. The Contractor may request a disbursement of 100 percent of total awarded <br />Grant funds after executing the Standard Agreement. Administrative costs <br />related to the planning and execution of eligible activities shall not exceed <br />five percent of the Grant amount. <br />B. A separate checking account for the Grant funds is not required. However, the <br />Contractor shall deposit Grant funds in an interest -bearing checking or savings <br />account insured by the federal or state government. All interest earned from the <br />deposit of Grant funds shall be used for eligible Program activities and accounted <br />for in Contractor's annual report. <br />C. The Contractor shall make a good faith effort to minimize the number of <br />disbursement requests by anticipating and requesting funds in advance. <br />D. The Contractor may request that Grant funds awarded for a certain eligible <br />activity be moved to another activity without an amendment to this Agreement. <br />This request must be made in writing to HCD if the change from one activity to <br />another exceeds ten percent of the grant amount and shall be effective only upon <br />written HCD approval. HCD's decision to approve or deny any such request shall <br />be final, absent fraud, mistake or arbitrariness per Section 302(c)(5). <br />Permanent Local Housing Allocation (PLHA) Program — Grant <br />NOFA Date: 02/26/2020 <br />Approved Date: 10/05/2020 <br />Prep. Date: To be entered when SA is cre�tgdA_1 0 <br />