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funds expended by the State Entity hereunder shall be at its sole option and discretion, and
<br />nothing contained herein, including but not limited to this Section, shall require the State Entity
<br />to take any action, incur any expense, or expend any funds, and the State Entity shall not be
<br />responsible for or liable to the Public Entity or any other entity for any such acts that are
<br />undertaken and performed in good faith and not in a negligent manner. Any funds expended by
<br />the State Entity to perform such acts as may to necessary to so maintain the Real Property and, if
<br />applicable, Facility shall be due and payable on demand by the State Entity and bear interest
<br />from the date of advancement by the State Entity at a rate equal to the lesser of the maximum
<br />interest rate allowed by law or 18% per annum based upon a 365 day year.
<br />Section 7.04 Records Keeping and Reporting. Each year and until the State Entity
<br />determines that the project goals have been met, the Public Entity shall submit to the State Entity
<br />a report, satisfactory to the State Entity, on the distribution of funds and the progress of the
<br />Project covered from the date of the Agreement through June 30 of each year. The report must
<br />be received by the State Entity no later than July 25 of each year. The report shall identify
<br />specific project goals listed in the Grant Application for the Project and quantitatively and
<br />qualitatively measure the progress of such goals. Reporting forms will be provided by the State
<br />Entity. Upon determination that the project goals have been met, the State Entity shall issue a
<br />letter to the Public Entity stating such.
<br />The Public Entity shall maintain or cause to be maintained books, records, documents and
<br />other evidence pertaining to the costs or expenses associated with the Project and operation of
<br />the Real Property and, if applicable, Facility needed to comply with the requirements contained
<br />in this Agreement, the G.O. Compliance Legislation, the Commissioner's Order, and the State
<br />Program Enabling Legislation, and upon request shall allow or cause the entity which is
<br />maintaining such items to allow the State Entity, auditors for the State Entity, the Legislative
<br />Auditor for the State of Minnesota, or the State Auditor for the State of Minnesota, to inspect,
<br />audit, copy, or abstract, all of such items. The Public Entity shall use or cause the entity which is
<br />maintaining such items to use generally accepted accounting principles in the maintenance of
<br />such items, and shall retain or cause to be retained (i) all of such items that relate to the Project
<br />for a period of 6 years from the date that the Proj ect is fully completed and placed into operation,
<br />and (ii) all of such items that relate to the operation of the Real Property and, if applicable,
<br />Facility for a period of 6 years from the date such operation is initiated.
<br />Section 7.05 Inspections by State Entity. Upon reasonable request by the State Entity
<br />and without interfering with the normal use of the Real Property and, if applicable, Facility, the
<br />Public Entity shall allow, and will require any entity to whom it leases, subleases, or enters into a
<br />Use Contract for any portion of the Real Property and, if applicable, Facility to allow the State
<br />Entity to inspect the Real Property and, if applicable, Facility.
<br />Section 7.06 Data Practices. The Public Entity agrees with respect to any data that it
<br />possesses regarding the Program Grant, the Project, or the operation of the Real Property and, if
<br />applicable, Facility, to comply with all of the provisions and restrictions contained in the
<br />Minnesota Government Data Practices Act contained in Chapter 13 of the Minnesota Statutes
<br />that exists as of the date of this Agreement and as such may subsequently be amended, modified
<br />or replaced from time to time.
<br />Generic GO Bond Proceeds Zc� Ver— 8/20/08
<br />Grant Agreement for ProgramConstruction Grants (Gnrc GO GA-Prgrm Cnstrctn Grnt)
<br />RDGP-08-0029-o-FY09
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