6G(4) SubGrant Agreement Technology Park

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Exhibit "B". The Grantor may de-obligate any Grant Funds which have not been expended and drawn down as of the Expiration Date. (J.) Failure to complete the Project and expend state, local and/or private funds in accordance with this Agreement may be considered a material breach of the Agreement and shall entitle the State or the City of South Bend to impose sanctions against the Grantee including, but not limited to, suspension of all grant payments, and/or suspension of the Grantee's participation in State grant programs until such time as all material breaches are cured to the State's satisfaction. Sanctions may also include repayment of all Grantee funds and all funds from the State of Indiana, whether or not they are held or were expended for this Project or accounted for in the Budget. (K.) All payments shall be made in arrears by electronic funds transfer to the financial institution designated by the Grantee in writing unless a specific waiver has been obtained from Grantor. The written authorization must designate a financial institution and an account number to which all payments are to be credited. No payments will be made in advance of the receipt of goods or services that are the subject of this Agreement except as permitted by Indiana Code § 4-13-2-20 or by Indiana Code § 5-28-8. (L.) Grantee understands and acknowledges that there are certain requirements, covenants and restrictions arising out of the State Grant Agreement, and the Technology Park Agreement between the State and the City, and that such requirements, covenants and restrictions are intended to survive the Term of this Agreement. Grantee further understands and acknowledges that it is bound by such requirements, covenants and restrictions including, but not limited to, the following: Grantee shall provide to Grantor information regarding the operation and maintenance of the 54,000 square foot business incubator located on Parcel 1 of the Notre Dame Campus site as described and set forth on Exhibit "D" hereto ("Business Incubator"), and commencing February 15, 2010, shall provide an annual report to Grantor for the immediately preceding calendar year ending December 31st ("Annual Report"): (1) total employment and payroll levels for all businesses operating within the Business Incubator, which should also include the number of new jobs created that year; (2) the nature and extent of any technology transfer activity occurring; (3) the nature and extent of any non-technology businesses; (4) the use and outcomes of any Grant Funds utilized; (5) an analysis of the Business Incubator's overall contribution to the technology-based economy in Indiana, in a form reasonably acceptable to the Grantor, including, but not limited to, the amount of capital investment that occurred and the products that have been developed or commercialized. The Annual Report shall further include a complete list of the employers within the Business Incubator 5 F:A*.*\Projects-Miscellaneous\Tech Park\Subgrant Agreement-Notre Dame (2) 8.17.09