DOWNTOWN INC. (2)-2017 - Laserfiche WebLink

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(e -AF— fir! `�,ceti9x C�' CITY Or SANTA ANA (DONATION AGREE, MFNT WITH DOWNTOWN INCORPORATED 1. PARTIES AND DATE This Donation Agreement ("Agreement') is entered into on this 17- day of au" -Q- 2017, by and, between the City of Santa Anat a charter city and municipal corporation organized and existing under the Constitution and laws of the State of California ("City'l and Downtown Incorporated, a 26 U.S. Code section 501(c)(6) non-profit organization ("Recipicaf" . City and Recipient are sometimes individually referred to as "Party" and collectively as "Parties" in this Agreement. 2. RECITALS 2.1 Comununity Benefit. The City wishes to provide Recipient with funding to assist Recipient with the 2017 Downtown Community Open House at the Frida Cinema in Downtown Santa Ana on August 9, 2Ot7. The sponsorship will cover the cost of event expenses including rental costs, printing & mailing, and event production management, The Parties wish to enter into this Agreement to establish the terms and conditions under which the City will provide funding for such program. 2.2 Public Purpose. The City believes there is a public purpose in supporting the Community Benefit because the 2017 Downtown Community Open House will bring together local community businesses and downtown stakeholders to share in the progress of the Downtown area and providing information for the attendees on how to participate, connect and work with each other and the City. The foregoing is a general description of the public purpose, and is not necessarily the only public purpose to be gained from the Community Benefit. 3. TERMS AND CONDITIONS 3.1 Use of Funds. The City has chosen to provide Recipient with Five Thousand Dollars ($5,000.00) because the City has determined that there is a public purpose to be served in supporting the Community Benefit. The funds shall be spent in accordance with the Expense Budget attached hereto as Exhibit A and incorporated herein by this reference. In executing this Agreement and receiving the funds, Recipient agrees, to use (lie funds only for the purpose described and subject to the terms and conditions provided for in this Agreement. Should Recipient fail to use the fluids for such purpose or otherwise comply fully with the terms of this Agreement, City shall have the right to terminate this Agreement and demand the return of the fiords pursuant to Section 3.2 below. 3.2 Term: Termination of Aareement. This Agreement shall take effect on the date first above written and remain in effect unless and until terminated by the City. The City has the right to terminate this Agreement upon aria day's notice, with or without cause. Should the City terminate this Agreement, it shall also have the right to demand the immediate return of all funds provided to Recipient pursuant to this Agreement, as wall as interest at the rate of ten percent (101/4) per annum. N-2017-123