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<br />NOW THEREFORE, in consideration of the promises and mutual covenants and <br />undertakings set forth in this Agreement, the Authority and Grantee agree as follows: <br /> <br />ARTICLE 1 <br />DEFINITIONS <br /> <br />The following terms when used in this Agreement will, except where the context otherwise <br />requires, have the following meanings. <br /> <br />Grant Agreement, as the same may be amended from time to time <br />pursuant to its terms. <br /> <br />-ARP funds made to the Grantee pursuant to the <br />Agreement in the aggregate principal amount up to $112,900.00. <br /> <br />-ARP <br />amended from time to time, that are applicable to HOME, as revised for HOME-ARP in the <br />Appendix of the HOME-ARP Notice. <br /> <br />means the assistance provided by Grantee to a qualifying individual or family as <br />described in Exhibit A of this Agreement, which includes the Project description and budget. <br /> <br />-ARP funds has been disbursed <br />by Authority for the Project and all activities are <br />and Information System (IDIS). <br /> <br />ARTICLE 2 <br />TERMS OF GRANT, USE, AND DISBURSEMENT OF HOME-ARP FUNDS <br /> <br />Section 2.1 Grant Amount and Grant Term. Subject to the terms and conditions set <br />forth in this Agreement, the Authority agrees to make the funds available pursuant to the HOME- <br />ARP Program to make the Grant to the Grantee in an aggregate principal amount up to One <br />Hundred Twelve Thousand and Nine Hundred 00/100 Dollars ($112,900.00) to finance the Project <br />as further described in this Agreement. The Project Activities shall be completed in a timely <br />manner and all Grant funds will be expended no later than December 31, 2023, unless extended <br />in writing by Authority . <br /> <br />Section 2.2 Use of Funds. The Grantee will use proceeds of the Grant strictly for the <br />uses identified in Exhibit A. Exhibit A lists the tasks to be performed with respect to the Project, <br />together with a budget for the completion of such tasks. The Grantee will not use or permit <br />proceeds to be used for any other purpose or in any other manner. The failure to use the HOME- <br />ARP funds in compliance with the Use of Funds Statement set forth in Exhibit A will constitute a <br />material failure of the terms of this Agreement. <br />Section 2.3 Program Income. Program income will be remitted to the Authority to be <br />used in accordance with the requirements of HOME-ARP. <br />3 <br />RS160\\2\\858927.v1 <br /> <br />