AgdaPkt 2010-11-08 - Laserfiche WebLink

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6.1 E Page 4 NOW, THEREFORE, Grantor and Grantee hereby agree as follows: 1. Grant and Use of Funds. Grantor agrees to provide a grant to Grantee in the approximate amount of Two Hundred Twenty Five Thousand Dollars ($225,000.00), plus any additional interest eamed thereon. Funds from Fund 155—Library Bequest Fund shall be disbursed to Grantee. Grantor reserves the right to withhold the balance of � any remaining funds if the use of the funds is found to be substantially out of compliance with the purpose of this Grant Agreement. 2. Term. Unless earlier terminated, the term of this Agreement will be effective for a period of five (5) years from the date first above written. The City Manager may amend the Agreement in writing to extend it for additional periods, but the grant funding under this Agreement will not exceed the amount available in the Fund described above in Paragraph 1. The parties may prepare a written amendment indicating the effective date and length of any extension to this Agreement. 3. Maintenance of Records. Grantee shall maintain complete and accurate records with respect to costs incurred under this Grant Agreement. All such records shall be clearly identifiable. Grantee shall allow a representative of Grantor during normal business hours to examine, audit, and make transcripts or copies of such records and any other documents created pursuant to this Grant Agreement. Grantee shall allow inspection of all work, data, documents, proceedings, and activities related to the Grant Agreement for a period of five (5) years from the date of final payment under the Grant Agreement. 4. Insurance Grantee will obtain and maintain for the duration of the Grant Agreement and any and all amendments, insurance against claims for injuries to persons or damage to property which may arise out of or in connection with performance of the services under this Grant Agreement by Grantee or Grantee's agents, representatives, employees or subcontractors. The insurance will be obtained from an insurance carrier admitted and authorized to do business in the State of California. The insurance carrier is required to have a current Best's Key Rating of not less than "A-:V." 4.1 CoveraQes and Limits. Grantee will maintain the types of coverages and minimum limits indicated below, unless Grantor's Risk Manager or Executive Director, in consultation with the General Counsel, approves a lower amount. These minimum amounts of coverage will not constitute any limitations or cap on Grantee's indemnification obligations under this Grant Agreement. Grantor, its officers, agents, volunteers and employees make no representation that the limits of the insurance specified to be carried by Grantee pursuant to this Grant Agreement are adequate to protect Grantee. If Grantee believes that any required insurance coverage is inadequate, Grantee will obtain such additional A1"fY/AGR/2010,120 103010 2