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.