In order to receive disbursement of loan funds that have been
committed to them, awardees will be required by contract with the
Commission to:
(1) have a system established in writing to ensure
that appropriate officials provide necessary internal reviews and
approvals for the expenditure of funds and for monitoring project
performance and adherence to state terms and conditions;
(2) have financial management systems that meet the
requirements of the Commission;
(3) retain financial management records, supporting
documents, statistical records, and other materials pertinent to the
award until the debt is retired and make these records available to
the Commission upon request;
(4) be responsible for performing the duties and tasks
described under all project loan agreements;
(5) provide the Commission with copies of all project
documentation required by federal or other financial partners;
(6) provide project demonstrations, site inspections,
photo or other documentation, including written materials to substantiate
benefit to the community's economy and enhancement of the military
value of the facility as may be requested by the Commission;
(7) agree that the loan may be suspended or terminated
if the awardee fails to comply with the terms and conditions of the
loan, or if the financial partnership is suspended or terminated;
(8) agree that when two or more entities are participating
together as an awardee, if one or more of the entities does not fulfill
its loan repayment obligation, then the remaining entity or entities
are still liable for repayment of the entire loan amount;
(9) agree that neither the Commission nor the Office
of the Governor shall be held liable in the event of damages to persons
or property which may occur in the course of activities conducted
as a result of the award or its cancellation or withdrawal; and
(10) agree to such other terms and conditions as the
Commission may require.
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