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Section 7.21 Time of Essence. Time is of the essence with respect to all of the matters contained in this Agreement. Section 7.22 Counterparts. This Agreement may be executed in any number of counterparts, each of which when so executed and delivered shall be an original, but such counterparts shall together constitute one and the same instrument. Section 7.23 Matching Funds. The Public Entity must obtain and supply the following matching funds, if any, for the Proj ect: The Public Entity must pay for at least one-half of the redevelopment costs as a local match from any money available to the Public Entity. Eligible redevelopment costs incurred up to twelve months prior to the application due date can be included as part of the local match requirement if such items have been approved, in writing, by the State Entity. Any matching funds which are intended to meet the above requirements must be in the form of cash monies which have been or will be used to pay for the Project. The Public Entity shall supply to the Commissioner whatever documentation the Commissioner may request to substantiate the availability and source of any matching funds, and the source and terms relating to all matching funds must be consented to, in writing, by the Commissioner. Section 7.24 Source and Use of Funds. The Public Entity represents to the State Entity and the Commissioner that Attachment III to this Agreement is intended to be and is a source and use of funds statement showing the total cost of the Proj ect and all of the funds that are available for the completion of the Project, and that the information contained in such Attachment III correctly and accurately delineates the following information. A. The total cost of the Proj ect detailing all of the maj or elements that make up such total cost and how much of such total cost is attributed to each such maj or element. B. The source of all funds needed to complete the Project broken down amongst the following categories: (i) State funds including the Program Grant, identifying the source and amount of such funds. (ii) Matching funds, identifying the source and amount of such funds. (iii) Other funds supplied by the Public Entity, identifying the source and amount of such funds. (iv) Loans, identifying each such loan, the entity providing the loan, the amount of each such loan, the terms and conditions of each such loan, and all collateral pledged for repayment of each such loan. (v) Other funds, identifying the source and amount of such funds. C. Such other financial information that is needed to correctly reflect the total funds available for the completion of the Proj ect, the source of such funds and the expected use of such funds. Generic GO Bond Proceeds 34 Ver— 8/20/08 Grant Agreement for ProgramConstruction Grants (Gnrc GO GA-Prgrm Cnstrctn Grnt) RDGP-08-0029-o-FY09