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<br />EXHIBIT "B" <br />CONDmONS AND ~'1)ING RESTRTCTIONS <br />1. That the RC.A-C. obtain a legal, lease agreement for the subject building, for a six <br />year term, renewable for an additional term or tenns but not less than four years. <br />2. ThaI this funding be considered as a "one time" and non-renewable grant. <br />3. That the total amount of this grant not exceed the som of $30,000. <br />4. That the RC.A.C. maintain its non-profit corpora~ status at all times and submit its <br />bona fide application for qualification under Section 501(c)(3) of the Internal <br />Revenue Code within sixty (60) days from the dare of this agreement <br />5. That Agency funds be utilized exclusively for tenant improvements related to the <br />building's occupancy as an Art Center (see below)~ <br />6. That the Agency be held harmless from any actio~ taken by the R.C.AÇ., as well as <br />any issues related to the Agency-funded tenant improvements at the subject facility. <br />7. That the property owner submit a letter to the R.c.A-c. demonstrating his intent <br />to match the Agency is committed on a dollar per dollar basis within 30 days of this <br />agreement. (see itemized list below) <br />- -"'''. . ""[' . . <br />