CCP 10-13-2009 - Laserfiche WebLink

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take, permit, omit to take, or cause to be taken, as appropriate, any such action, it shall take all lawful actions'necessary to rescind or correct such actions or omissions promptly I}pon having knowledge thereof. Section 5.03 Changes to G.O. Compliance Legislation -or the Commissioner's Order. In the event that the G.O. Compliance Legislation or the Commissioner's Order is amended in a manner that reduces any requirement imposed against the Public Entity, or if the Public Entity's interest in the Real Property or, if applicable, Facility is exempt from the G.O. Compliance Legislation and the Commissioner's Order, then upon written request by the Public Entity the State Entity shall enter into and execute an amendment to this Agreement to implement herein such amendment to or exempt the Public Entity's interest in the Real Property and, if applicable, Facility from the G.O. Compliance Legislation or the Commissioner's Order. Article VI DISBURSEMENT OF GRANT PROCEEDS Section 6.01 The Advances. The State Entity agrees, on the terms and subject to the conditions set forth herein, to make Advances from the Grant to the Public Entity from time to time in an aggregate total amount not to exceed the amount of the Grant. If the amount of Grant that the State Entity cumulatively disburses hereunder to the Public Entity is less than the amount of the Grant delineated in Section 1.01; then the State Entity and the Public Entity shall enter into and execute whatever documents the State Entity may request in order to amend or modify this Agreement to reduce the amount of the Grant to the amount actually disbursed. Provided, however, in accordance with the provisions contained in Section 2.11, the State Entity's obligation to make Advances shall terminate as of the dates specified in such Section even if the entire Grant has not been disbursed by such dates. Advances shall only be for expenses that (i) are for those items of a capital nature delineated in Attachment III to this Agreement, (ii) accrued no earlier than the effective date of the GO Bonding Legislation, or (iii) have otherwise been consented to, in writing, by the Commissioner. It is the intent of the parties hereto that the rate of disbursement of the Advances shall not exceed the rate of completion of the Project or the rate of disbursement of the matching funds required, if any, under Section 7.23. Therefore, the cumulative amount of all Advances disbursed by the State Entity at any point in time shall not exceed the portion of the Project that has been completed and the percentage of the matching funds required, if any, under Section 7.23 that have been disbursed as of such point in time. This requirement is expressed by way of the following two formulas: Formula #I Cumulative Advances < (Grant) x (percentage of matching funds, if any, required under Section 7.23 that have been disbursed) Generic GO Bond Proceeds 21 Ver — 6/26/08 Grant Agreement for Construction Grants (Gnrc GO GA-Cnstrctn Gmt)