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Agr. Neighborhood Improvement Program GRANT AGREEMENT This Grant Agreement is entered into this /Dtf.- day of July, 1995, between the City of Salina, Kansas (the "City") and Salina Habitat for Humanity, Inc. ("Habitat"). Recitals A. The city of Salina has initiated a Neighborhood Improvement Program as a service delivery method in lower income neighborhoods for the purposes of upgrading the quality of public facilities in older areas of the city, encouraging surrounding property owners to improve and maintain their homes and businesses, and enhancing the value, safety and livability of the community. B. At its June 26, 1995, regular meeting, the governing body approved the 1995 Neighborhood Improvement Program Action Plan for the three neighborhood service areas, including a redevelopment project for Neighborhood Service Area No.2 assisting Habitat in the acquisition and redevelopment of the former Benton's Cafe into a warehouse/shop and other uses to further its housing programs. C. In recognition of the public purpose served by assisting Habitat in its work of enhancing the availability of affordable owner-occupied housing, the governing body has authorized the grant of the amount of $15,000 to Habitat (the "Grant"), subject to the terms of this Grant Agreement. THE PARTIES therefore agree: Section 1 - Use of funds. Habitat agrees that the Grant shall be applied toward the cost of purchasing and renovating what has been known as "Benton's Cafe" located in 1995 Neighborhood Service Area No.2. Habitat further agrees that it shall document to the City its use of the Grant for the authorized purposes. Section 2 - Term of Grant. The Grant will be available to Habitat at the time of the scheduled closing on its purchase of Benton's Cafe; provided, however, such closing must occur no later than December 31, 1995. If such closing has not occurred by December 31, 1995, this Agreement shall terminate, and the Grant will be withdrawn unless reauthorized by the City. Section 3 - Right to audit. Toward fulfillment of the City's responsibility in monitoring the use of public funds, Habitat agrees that authorized representatives of the City will have an opportunity, upon request, to review its financial records to verify proper use of the Grant funds. Section 4 - Binding effect. This Grant Agreement shall be binding upon the parties and their successors and assigns. EXECUTED the day and year first above written. CITY OF SALINA, KANSAS C[)~ A TrEST: SALINA HABITAT for HUMANITY, INC. (\ C I I ':~I \ (' '"-' ", (,~' \ ' \