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ARTICLE II GRANT Section 2.01 Grant of Monies. The Council shall make and issue the Program Grant to the Public Entity and disburse the proceeds in accordance with the provisions of this Agreement. The Program Grant is not intended to be a loan even though the portion thereof that is disbursed may need to be returned to the Council or the Commissioner of MMB under certain circumstances. Section 2.02 Public Ownership. The Public Entity acknowledges and agrees that the Program Grant is being funded with the proceeds of G.O. Bonds, and as a result thereof all of the Real Property and, if applicable, Facility must be owned by one or more public entities. Such ownership may be in the form of fee ownership, a Real Property/Facility Lease, or an easement. In order to establish that this public ownership requirement is satisfied, the Public Entity represents and warrants to the Council that it has, or will acquire, the following ownership interests in the Real Property and, if applicable, Facility, and, in addition, that it possess, or will possess, all easements necessary for the operation, maintenance and management of the Real Property and, if applicable, Facility in the manner specified in Section 2.04: (Check the appropriate box for the Real Property and, if applicable, for the Facility.) Ownership Interest in the Real Property. □ Fee simple ownership of the Real Property. □ A Real Property/Facility Lease for the Real Property that complies with the requirements contained in Section 2.06. (If the term of the Real Property/Facility Lease is for a term au- thorized by a Minnesota statute, rule or session law, then insert the citation: ________________.) □ An easement for the Real Property that complies with the requirements contained in Sec- tion 2.06. (If the term of the easement is for a term authorized by a Minnesota statute, rule or session law, then insert the citation: ________________.) Ownership Interest in, if applicable, the Facility. □ Fee simple ownership of the Facility. □ A Real Property/Facility Lease for the Facility that complies with all of the requirements contained in Section 2.06.(If the term of the Real Property/Facility Lease is for a term au- thorized by a Minnesota statute, rule or session law, then insert the citation: ________________.) □ Not applicable because there is no Facility. Section 2.03 Use of Grant Proceeds. The Public Entity shall use the Program Grant solely to reimburse itself for expenditures it has already made, or will make, in the performance of the following activities, and may not use the Program Grant for any other purpose. (Check all appropriate boxes.) □ Acquisition of fee simple title to the Real Property. □ Acquisition of a leasehold interest in the Real Property. □ Acquisition of an easement for the Real Property. Generic GO Bond Proceeds Grant Agreement for Program End Grants 6 Ver – 10/26/20