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City of Santa Ana Grant Agreement No. 22-159,Amendment 1 Page 2 COSTS AND DISBURSEMENTS Section VIII. COSTS AND DISBURSEMENTS is amended as follows: The second paragraph is deleted and replaced with the following: The Conservancy shall disburse funds for costs incurred to date, upon the grantee's satisfactory progress under the approved work program and upon submission of a "Request for Disbursement" form, which shall be submitted no more frequently than monthly but no less frequently than quarterly. The following heading and text is added to the end of this section: Advance Payment Request for Advanced Funds The Conservancy may elect to disburse a portion of the funds to the grantee before the grantee has incurred costs and expenses that qualify for payment under this agreement ("advanced funds"). To obtain advanced funds,the grantee shall submit the Conservancy's Request for Disbursement form, with all the first page information filled out and the word "Advance"written by grantee on the first line of the Task section along with the total budgeted grant amount, amounts disbursed to date, advance payment request, and remaining balance if the request is approved. Page 2 should be left blank, and no attachments are needed. Deposit and Tracking Advanced Funds Grantee shall hold the advanced funds in a federally-insured, interest-bearing account for which deposits, including interest, and withdrawals will be tracked("advance payment account"). The grantee shall hold the advanced funds in the advance payment account until expenditure, and the grantee must minimize time in between receipt and expenditure of advanced funds. The grantee shall ensure the advance payment account is in the grantee's name, and not in the name of any of its directors or officers. All interest earned by funds in the advance payment account is deemed advanced funds subject to the terms of this agreement. The grantee shall spend advanced funds solely on eligible project costs and expenses consistent with the work program. The grantee shall maintain records and receipts that demonstrate how advanced funds were spent.