Common use of Fund Disbursement Clause in Contracts

Fund Disbursement. The Subrecipient may request reimbursement by submitting the SLFRF requisition form attached hereto as Exhibit 4 (“Requisition Form”) with backup documentation detailing itemized expenditures by activity and cost categories. All SLFRF funds must be requested on the SLFRF Requisition Form provided. No funds may be disbursed until all required reports and supporting documentation are submitted. The City of Providence reserves the right to request additional compliance documentation before disbursing funds. The Subrecipient shall not request disbursement of funds until funds are needed for reimbursement of eligible costs. The amount of each request must be limited to the amount needed and the proposed use of the funds must be documented and in accordance with the Program Budget, and all SLFRF regulations/guidance. In the event the Subrecipient fails to pay contractors, subcontractors, vendors or others with claims against the Program, the City of Providence reserves the right to withhold all remaining program funds until payments and/or all conflicts/liens are resolved. The Subrecipient pledges to undertake contracts and subcontracts and manage payments using mechanisms that protect the interests of the Subrecipient and the City of Providence, such as retaining portions of contracts until completion and requiring bonds, warranties and insurance as appropriate. The Subrecipient will obtain competitive pricing quotes or bids for all services, contracts or purchases, in compliance 2 CFR 200.317-326 – Procurement Standards and the Manual. SLFRF Commitment The City of Providence agrees to disburse SLFRF funds subject to the terms and conditions contained in this Contract Agreement. Such disbursements shall not, in the aggregate, exceed that amount designated for total funding listed on page two (2) of this Contract Agreement and as detailed in the Program Budget. In no instance shall the City of Providence be liable for any costs incurred in excess of this commitment (hereinafter referred to as the “SLFRF commitment”), nor for any unauthorized or ineligible costs. Expenses that are out of compliance with this Contract Agreement may be determined ineligible and may be subject to repayment and/or recapture by USDT and/or the City of Providence.

Fund Disbursement. The An initial payment of 25% of the total grant contracted amount will be made within 30 days of receipt of the SLFRF Requisition Form (Exhibit 4). Following sufficiently documented spend down of the 25% advance payment, the Subrecipient may request reimbursement reimbursements monthly by submitting the SLFRF requisition form attached hereto as Exhibit 4 (“Requisition Form”) with backup documentation detailing itemized expenditures by activity and cost categories. All SLFRF funds must be requested on the SLFRF Requisition Form provided. No funds may be disbursed until all required reports and supporting documentation are submitted. The City of Providence reserves the right to request additional compliance documentation before disbursing funds. The Subrecipient must utilize SLFRF Requisition Form for monthly invoices. Except as otherwise provided in this Agreement, the Subrecipient shall not request disbursement of funds until funds are needed for reimbursement of eligible costs. The amount of each request must be limited to the amount needed and the proposed use of the funds must be documented and in accordance with the Program Budget, and all SLFRF regulations/guidance. In the event the Subrecipient fails to pay contractors, subcontractors, vendors or others with claims against the Program, the City of Providence reserves the right to withhold all remaining program funds until payments and/or all conflicts/liens are resolved. The Subrecipient pledges to undertake contracts and subcontracts and manage payments using mechanisms that protect the interests of the Subrecipient and the City of Providence, such as retaining portions of contracts until completion and requiring bonds, warranties and insurance as appropriate. The Subrecipient will obtain competitive pricing quotes or bids for all services, contracts or purchases, in compliance 2 CFR 200.317-326 – Procurement Standards and the Manual. SLFRF Commitment The City of Providence agrees to disburse SLFRF funds subject to the terms and conditions contained in this Contract Agreement. Such disbursements shall not, in the aggregate, exceed that amount designated for total funding listed on page two (2) of this Contract Agreement and as detailed in the Program Budget. In no instance shall the City of Providence be liable for any costs incurred in excess of this commitment (hereinafter referred to as the “SLFRF commitment”), nor for any unauthorized or ineligible costs. Expenses that are out of compliance with this Contract Agreement may be determined ineligible and may be subject to repayment and/or recapture by USDT and/or the City of Providence.

Fund Disbursement. The Subrecipient may request reimbursement as frequently as once a month, but in no case less than once a quarter, by submitting the SLFRF requisition attached form attached hereto as Exhibit 4 (“Requisition Form”) with backup documentation detailing a budget which details itemized HPRP expenditures by activity and cost categories. All SLFRF ALL HPRP funds must be requested on the SLFRF Requisition Draw Request Form provided(See Exhibit E). No funds may will be disbursed until all required reports and supporting substantiating documentation are submitted. The City NOTE: Grantee should modify the above as necessary to reflect its policies on the frequency and form of Providence reserves disbursement requests. Reallocation of funds, Termination, Suspension, Conditions If, due to any cause, the right Subrecipient fails to comply with the terms, conditions or requirements of this Agreement, the Grantee may terminate or suspend this Agreement by giving written notice of the same and specifying the effective date of termination or suspension at least ____ (#) days prior to such action. In the cast of Agreement violations by the Subrecipient, the Grantee may request additional compliance documentation before disbursing that all or some of the grant funds be returned even if the Subrecipient has expended the funds. The request will be made in writing. The Subrecipient agrees to return such funds as requested by the Grantee within ___ days of receipt of the written request. Any objections regarding terminations or suspensions shall be made by the Subrecipient in writing and mailed to the following: Name: Address: Street Address: City, State, Zip Subsequent Contracts The Subrecipient shall not request disbursement remain fully obligated under the provisions of funds until funds are needed the Grant Agreement notwithstanding its designation of any subsequent or third parties for reimbursement the undertaking of eligible costs. The amount all or part of each request must be limited the activities for which the grant assistance is being provided to the amount needed and the proposed use Subrecipient. Any contractor or subcontractor which is not part of the funds must be documented and Subrecipient shall comply with all the lawful requirements of the Application necessary to insure that the project for which assistance is being provided under this Agreement is carried out in accordance with the Program Budget, Subrecipient’s Assurances and all SLFRF regulations/guidance. In the event the Subrecipient fails to pay contractors, subcontractors, vendors or others with claims against the Program, the City of Providence reserves the right to withhold all remaining program funds until payments and/or all conflicts/liens are resolved. The Subrecipient pledges to undertake contracts and subcontracts and manage payments using mechanisms that protect the interests of the Subrecipient and the City of Providence, such as retaining portions of contracts until completion and requiring bonds, warranties and insurance as appropriate. The Subrecipient will obtain competitive pricing quotes or bids for all services, contracts or purchases, in compliance 2 CFR 200.317-326 – Procurement Standards and the Manual. SLFRF Commitment The City of Providence agrees to disburse SLFRF funds subject to the terms and conditions contained in this Contract Agreement. Such disbursements shall not, in the aggregate, exceed that amount designated for total funding listed on page two Certifications (2) of this Contract Agreement and as detailed in the Program Budget. In no instance shall the City of Providence be liable for any costs incurred in excess of this commitment (hereinafter referred to as the “SLFRF commitment”See Exhibit F), nor for any unauthorized or ineligible costs. Expenses that are out of compliance with this Contract Agreement may be determined ineligible and may be subject to repayment and/or recapture by USDT and/or the City of Providence.