Laserfiche WebLink
CITY OF SANTA ANA <br />DONATION AGREEMENT WITH <br />ORANGE COUNTY COMMUNITY FOUNDATION <br />(FISCAL SPONSOR FOR HISPANIC EDUCATION ENDOWMENT FUND <br />1. PARTIES AND DATE <br />This Donation Agreement ("Agreement") is entered into on MAY 1, 2018 by and between <br />the City of Santa Ana, a municipal corporation ("City") and ORANGE -COUNTY COMMUNITY <br />FOUNDATION (FISCAL SPONSOR FOR HISPANIC EDUCATION ENDOWMENT FUND <br />(HEEF) a California 501(c)(3) NON-PROFIT ORGANIZATION ("Recipient"). City and <br />Recipient are sometimes individually referred to as "Party" and collectively as "Parties" in this <br />Agreement. <br />2. RECITALS <br />2.1 Community Benefit. The City wishes to provide Recipient with funding to assist <br />Recipient TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR YOUTH TO ATTEND <br />FOUR-YEAR UNIVERSITIES ("Community Benefit"). The Parties wish to enter into this <br />Agreement to establish the terms and conditions under which the City will provide funding. <br />2.2. - Public Purnose. The City, by recommendation of COUNCILMEMBER <br />SAR*)IhNTd, belicves there is a public purpose in supporting the Community Benefit because it <br />PROVIDES" ADDITIONAL RESOURCES THROUGH SCHOLARSHIP FUNDS FOR <br />ORANGE COUNTY'S HISPANIC/LATINO YOUTH TO ATTEND FOUR-YEAR <br />UNIVERSITIES. The foregoing is a general description of the public purpose, and is not <br />necessarily the only public purpose to be gained from the Community Benefit. <br />3. TERMS AND CONDITIONS <br />3.1 Use of Funds. The City has chosen to provide Recipient with a one-time payment of <br />FIVE HUNDRED DOLLARS -0500); -because the City has determined that there is a public <br />purpose to be served in supporting1he Community Benefit. In executing this Agreement and <br />receiving the funds, Recipient agrees to use the funds only for the purpose described and subject to <br />the terms and conditions provided for in this Agreement. Should Recipient fail to use the funds for <br />such purpose or otherwise comply fully with the terms of this Agreement, City shall have the right to <br />terminate this Agreement and demand the return of the funds pursuant to Section 3.2 below. <br />3.2 Term; Termination of Agreement. This Agreement shall take effect on the date first <br />above written and remain in effect through Recipient's full expenditure of the funds. The City has <br />the right to terminate this Agreement upon one day's notice, with or without cause. Should the City <br />terminate this Agreement, it shall also have the right to demand the immediate return of all funds <br />provided to Recipient pursuant to this Agreement, as well as interest at the rate of ten percent (10%) <br />per annum. Notwithstanding the foregoing, the indemnification provisions of this Agreement shall <br />survive any expiration or termination of this Agreement. <br />EXHIBIT <br />29A-3 <br />