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Transit Financial Assistance Grant Agreement Regional Sales and Use Tax 1.07 Material Representations. All representations made or contained in the Grantee's application for grant assistance are material representations of fact upon which the Council relied in awarding this grant assistance and are incorporated by reference into this Agreement. II. AUTHORIZED USE OF GRANT FUNDS 2.01 Authorized Uses. The Grantee is authorized to use the grant funds only for costs directly incurred for the Project activities described in the application for grant funds and specified in Exhibit A and only during the Project Activity Period specified in Paragraph 7.01 and identified on Page 1 of this Agreement. No other use of the grant funds is permitted. 2.02 Eligible Costs. Eligible project costs must be consistent with the TAB Eligible Project costs which include, but are not limited to: construction, crossing aids, lighting, streetscaping, and wayfinding. 2.03 Ineligible Costs. Costs for studies, preliminary engineering, design, right-of-way, and construction engineering are not eligible for reimbursement. III. GRANT AMOUNT AND DISBURSEMENTS 3.01 Grant Amount. The Council will make available to the Grantee a grant of up to the "Grant Amount" identified on page 1 for the Project. The Council's obligation under this Agreement shall not exceed the Grant Amount. The Council shall bear no responsibility for cost overruns that may be incurred by the Grantee, or any of its contractors, in the performance of the Project activities. 3.02 Disbursement of Grant Funds. Grant funds will be disbursed by the Council as follows: A. The first 50% of the Grant Award will be disbursed by the Council after the following conditions have been met: i. This Agreement is fully executed by all parties. ii. Council staff approval of Grantee's final project plan sheets. iii. Council receipt of Grantee's signed construction contract. B. Upon full expenditure of the initial 50% of the Grant Award, Grantees must submit a Grantee Invoice using the form provided by the Council's authorized agent ("Invoice"). C. The Invoice must describe the eligible Project Activities undertaken during the invoice period, itemize the expenditures for which the advance payment was utilized, and identify the corresponding activity line. This submission must also include supporting documentation pursuant to Paragraph 4.01. D. Subject to verification of the submitted Invoice (and the required documentation) and approval for consistency with this Agreement, the Council will approve the 11. Approved by OGC 12/16/24