6.F.(2) Tech Dev Grant Fund Grant Agreement

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~l PROJECT 1.D.: x01499 INDIANA ECONOMIC DEVELOPMENT CORPORATION TECHNOLOGY DEVELOPMENT GRANT FUND GRANT AGREEMENT (REV: 4/08) GRANT I.D.: TDGF-08-10006 THIS AGREEMENT, entered into by and between INDIANA ECONOMIC DEVELOPMENT CORPORATION (hereinafter referred to as the "State" or the "Grantor") and the SOUTH BEND REDEVELOPMENT COMMISSION, for and on behalf of the City of South Bend, Indiana, Department of Redevelopment (hereinafter referred to as the "Grantee"), is executed pursuant to the terms and conditions set forth herein, and shall be dated as of the date of final execution by all parties hereto. In consideration of those mutual undertakings and covenants, the parties agree as follows: 1. PURPOSE OF AGREEMENT: The purpose of this Agreement is to enable the State to make a grant to the Grantee named above from the State of Indiana's Technology Development Grant Fund (TDGF) of the lesser of Two Million and 00/100 Dollars ($2,000,000.00) or One Hundred Percent (100%) of eligible costs (the "Maximum Grant Amount") of the project as described in Exhibits A and B of this Agreement (the "Project"), both of which are attached hereto and incorporated herein by reference. The grant shall be used exclusively in accordance with the provisions contained in this Agreement and in lndiana Code § 5-28-10 establishing the Technology Development Grant Fund, as well as any rules adopted thereunder, and for no other purpose. 2. TERM OF AGREEMENT: The term of this Agreement shall be from September 22, 2008 until September 22, 2010, unless sooner terminated as described in this Agreement (the "Expiration Date"). All work and/or services under this Agreement must be completed by August 31, 2010 (the "Goal Date"). Grantee shall have until the earlier of (i) fifteen (15) business days prior to the Expiration Date or (ii) thirty (30) days from the completion of work done or services performed to submit claims to draw down the grant funds. In no event shall payments be made for work done or services performed after the Expiration Date. The Grantee may request in writing that the Expiration Date of this Agreement be extended; provided that the amount of funds disbursed under this Agreement not exceed the original Grant amount. The State, through a duly authorized representative, may approve or deny such request in its sole and unreviewable discretion. Documentation approving an extension shall be attached hereto as an addendum. A duly authorized representative of the State may not extend the Expiration Date of this Agreement beyond December 31, 2010 unless the Agreement is renewed under Paragraph 19. 1f the Expiration Date is extended, all other provisions of this Agreement shall remain in full force and effect. 3. DESIGN AND IMPLEMENTATION OF PROJECT: The Grantee shall be solely responsible for the proper design and implementation of the economic development Project that accomplishes the goals of the technology park established under Indiana Code § 36-7-32 and is described at Exhibit A. Although not expressly attached to this Agreement, the Grantee agrees to complete said Project in accordance with the plans and specifications contained in its application. Modifcation of its application shall require prior written approval of the State. 4. MONITORING BY THE STATE: (A.) The Grantee shall submit to the Grantor on a calendar quarterly basis, a Quarterly Progress Report. These reports must detail progress made towards completing the Project description and goals (as described at Exhibit A) by the Grantee, as described in this Agreement. PAGE 1 of t2