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<br />BAAQMD FY2007/2008 BFP Funding Agreement <br /> <br />provide the required written notice of a change in operational status on a timely basis, the Air <br />District may require repayment of grant funds pursuant to and in accordance with the terms set <br />forth in Paragraphs 2.D and 2.E, above. <br /> <br />10) Project Sponsor will maintain any equipment or other property funded under the terms of this <br />Agreement in good repair and according to the applicable manufacturer's specifications for the <br />Project Useful Life, as defined in Attachment B. <br /> <br />11) Project Sponsor will use BFP funds only for the implementation of projects that result in the <br />reduction of motor vehicle emissions within the Air District's jurisdiction that achieve surplus <br />emission reductions. Surplus emission reductions are those that exceed the requirements of <br />applicable regulations or other legal obligations (including contracts) at the time the Air District <br />Board of Directors approves a grant award. <br /> <br />12) Project Sponsor agrees to obtain and maintain throughout the Term of this Agreement, the <br />insurance coverage specified in "Insurance Requirements," Attachment D, and to comply with <br />all insurance requirements set forth therein, including the provision for documentation of said <br />insurance coverage. Failure to obtain and maintain the insurance coverage and to comply with <br />all insurance requirements shall be deemed a breach of this Agreement. <br /> <br />SECTION ill <br />AIR DISTRICT OBLIGATIONS <br /> <br />1) The Air District will provide BFP funds for this Project in an amount not to exceed the "Total <br />BFP Funds Awarded," set forth in Attachment A. <br /> <br />2) The Air District will endeavor to pay undisputed amounts of each approved invoice within <br />thirty (30) calendar days of the Air District's receipt of such invoice. <br /> <br />3) The Air District will provide timely notice to Project Sponsor prior to conducting an audit. <br /> <br />4) The Air District will provide a copy of any fiscal audits of the Project as specified in California <br />Health and Safety Code Section 44242. <br /> <br />5) The Air District will provide a copy of its logo for this Project. <br /> <br />SECTION IV <br />GENERAL PROVISIONS <br /> <br />1) Term: This Agreement will commence as of the effective date of this Agreement and shall <br />remain in effect for three (3) years following the later of 1) the Air District's final payment after <br />acceptance of the Final Report, or 2) the "Project Useful Life" as specified in Attachment B, <br />unless this Agreement is terminated as provided below. <br /> <br />2) Termination: The Air District may terminate this Agreement for default upon giving a minimum <br />of ten (10) business days' written notice of such default to Project Sponsor and Project Sponsor <br />does not cure such default within that period of time. The notice of default will specify the <br />amount of Total BFP Funds Awarded that Project Sponsor must reimburse the Air District, if <br />any. The Air District will calculate the amount of funds owed based on each year or part of <br />each year of the Project Useful Life that Project Sponsor operated the equipment covered by this <br />Agreement prior to the breach. For example, if the Air District determines that Project Sponsor <br />defaulted during the seventh year of operation of equipment that has a ten-year Project Useful <br /> <br />BFP Project 07BFP12 <br /> <br />Page 4 <br />