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HomeMy WebLinkAboutMACH ACADEMY SEC AMENDMENT 2003 CDBG GRANT. .. .- SECOND AMENDMENT CONTRACT BETWEEN AUGUSTA, GEORGIA AND MACH ACADEMY, INC. FOR 2003 COMMUNITY DEVELOPMENT BLOCK GRANT PROGRAM RECAPTURED URBAN DEVELOPMENT ACTION GRANTILOAN FUNDS ::!:".. This Second Amendment to the contract executed by and between the Parties on April 19, 2004, as amended on November 22,2004 by the First Amendment, is made and entered into on this 16th day of August, 2005, by and between AUGUSTA GEORGIA, a political subdivision of the State of Georgia, by and through the Augusta-Richmond County Commission, as the Implementer of the Community Development Block Grant Program (hereinafter referred to as "Grantee"), and MACH ACADEMY, INC. (hereinafter referred to as the "Sub-recipient"). WHEREAS, Grantee desires to convert the Recaptured Urban Development Action Grant loan to a Recaptured Urban Development grant; WHEREAS, Sub-recipient desires to accept the conversion of the said loan to said grant; NOW THERFORE, in exchange for their mutual good and valuable consideration, the receipt and sufficiency of which each Party acknowledges, and intending to be legally bound, Grantee and Sub-recipient agree to amend said contract as follows: ./ 1. Paragraph 2(a) shall be stricken in its entirety and shall be replaced with the following language: "2. TERM; TERMINATION The services of the Sub-recipient commenced on November 22,2004 and shall be undertaken and completed in such sequence as to assure their expeditious completion in the light of the purposes of this Contract unless so otherwise specified in this contract. This agreement shall remain in effect until June 30, 2006, or until this agreement is otherwise terminated. II. Paragraph 7 shall be stricken in its entirety and shall be replaced with the following language: "7. COMPENSATION The Sub-recipient shall be paid a total consideration of $132,000.00. This amount shall include a grant of $35,000.00 for capital expenses and a grant of $97,000.00 for projected expenses incurred during Year 2004 and Year 2005 as specified under the Agreement. Any cost above this amount shall be the sole responsibility of the Sub- recipient. The Sub-recipient has been reimbursed for a total of $15,700.00, which leaves a remaining balance to be disbursed under the amended agreement in the amount of $8 r ,300.00. Sub-recipient shall submit to Grantee adequate supporting documentation on all funds expended as specified in Appendix D. If terms are not met within this agreement, Sub-recipient will reimburse the Grantee for all funds disbursed. III. Exhibit C and Exhibit D shall be removed and shall be replaced with the amended Exhibit C and amended Exhibit D attached hereto. Except for the modifications made by this Amendment, the terms and conditions of the Agreement, as previously amended, shall remain in full force and effect. IN WITNESS WHEREOF, the parties have set their hands and seals as of the date first written above. ~!i~ '*BY: AUGUSTA, GEORGIA (y . (G:t;ant:e) .-- #,~/ .J~ / eke Copenhaver (As its Mayor) ATTEST: SEAL (Clerk of Commission) By: MACH ACADEMY INC. tl ~SUb~i~.~/ ff~ 4If~A~~/ - Michael Harden (As its President) ATTEST: SEAL J,r:- / L c;./ t Henry Taylor (As its Corporate Secretary) ~~afw2~ APPENDIX C USE OF FUNDS Use of funds received pursuant to this Agreement shall be in accordance with the requirements of the Housing and Community Development Act of 197 4 (as amended), 24 CFR Part 570 and any amendments or policy revisions thereto which shall become effective during the term of this Agreement. Budget is hereby changed: GRANT Contract Salaries Professional Services Equipment Supplies Total APPENDIX D REPORTING REQUIREMENTS $55,000.00 $1,400.00 $22,000.00 $2,900.00 $81,300.00 The Sub-recipient shall submit to the Grantee the following reports for the term of this agreement. 1. Monthly Progress Reports - Due the 10th of each month for the previous month. 2. Quarterly Progress Reports - Due the 15th for previous quarter activities. 3. Monthly Expenditure Reports - Due the 10th of each month for the previous month. 4. Quarterly Expenditure Reports - Due the 15th for previous quarter activities. 5. Annual Reports for 2005 and 2006. Due January 2006 for Year 2005 and July 31, 2005 for Year 2006.