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Article II <br /> GRANT <br /> Section 2.01(a). Grant of Monies. The Council shall make and issue the G.O. <br /> Grant to the Grantee, for payment of Project items as described in Attachment IV to this <br /> Agreement and disburse the proceeds in accordance with the provisions of this <br /> Agreement. The G.O. Grant is not intended to be a loan even though the portion thereof <br /> that is disbursed may need to be returned to the Council or the Commissioner of MMB <br /> under certain circumstances. <br /> Section 2.01(b). Maximum Expected Grant Amount ("Maximum Grant <br /> Amount"). The Council will pay to Grantee a Maximum Grant Amount during the <br /> Grant Project activity period of up to $102,716 ("Maximum Grant Amount"). However, <br /> in no event will the actual amount that the Council will pay to the Grantee for this <br /> Agreement exceed one-half of the actual amount expended by the Grantee on eligible <br /> expenses as specified in Section 2.01(a). Neither the Council nor the MMB shall bear <br /> any responsibility for a cost overrun which may be incurred by the Grantee in <br /> performance of the Project. <br /> The actual Grant Amount will be determined by the Council upon submission by <br /> Grantee to Council of reasonable, eligible and verifiable costs submitted in accordance <br /> with the terms of this Agreement for the Grant Project as described in Attachment IV. <br /> Section 2.02 Public Ownership. The Grantee acknowledges and agrees that the <br /> G.O. Grant is being funded with the proceeds of G.O. Bonds, and as a result thereof all of <br /> the Real Property and Facility must be owned by one or more public entities. Such <br /> ownership may be in the form of fee ownership or an easement. In order to establish that <br /> this public ownership requirement is satisfied, the Grantee represents and warrants to the <br /> Council that it has, or will acquire, the following ownership interests in the Real Property <br /> and Facility, and, in addition, that it possesses, or will possess, all easements necessary <br /> for the operation, maintenance and management of the Real Property and Facility in the <br /> manner specified in Section 2.04: <br /> (Check the appropriate box for the Real Property for the Facility.) <br /> Ownership Interest in the Real Property. <br /> Fee simple ownership of the Real Property. <br /> 9 <br />