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WHEREAS, pursuant to the Program's terms and conditions, Owner is required to enter into this Agreement to ensure the proper compliance with approval conditions, operational restrictions, maintenance, and upkeep of the Improvements. The Parties therefore agree as follows: Section 1. RECITALS. The Recitals above are true and correct and incorporated into the body of this Agreement by this reference. Section 2. COMPLIANCE WITH LAW. Owner acknowledges that the funds being provided by City for said program are received by City pursuant to ARPA, and that distribution and expenditure of these ARPA SURF Funds shall be in accordance with ARPA and all pertinent regulations issued by agencies of the federal government, including but not limited to, all regulations found at Title 24 of the Code of Federal Regulations. Owner agrees to comply fully with all federal, state and local laws and court orders applicable to its operation and administration of said program, whether or not referred to in this agreement. Section 3. REIMBURSEMENTS. The City shall reimburse the OWNER for the cost of Improvements in the amount of $ 50,000.00. In exchange for these funds, Owner expressly acknowledges and agrees to the entire terms and conditions of the Program as described in the Program brochure, which are hereby incorporated by reference as though fully set forth herein. Section 4. NO OTHER ELIGIBLE IMPROVEMENTS. No improvement that is not described on Exhibit B and approved by the City is eligible for the reimbursement. Section 5. COMPLETION OF IMPROVEMENTS. OWNER shall complete all Improvements within one hundred (100) calendar days beginning from the effective date fixed in paragraph 1. Upon completion of the Improvements and upon their final inspection and approval by the City, the OWNER shall submit to the City a property executed and notarized contractor statement showing the full cost of the work as well as each separate component amount due to the contractor and each and every subcontractor involved in furnishing labor, materials, or equipment necessary to complete the improvement related work. In addition, the OWNER shall submit to the City proof of payment of the contract cost pursuant to the contractor's statement and final lien waivers from all contractors and subcontractors. The City shall, within fourteen (14) business days of receipt of the contractor's statement, proof of payment, and lien waivers, issue a check to the OWNER as reimbursement in the total grant amount stated in Section 3 of this agreement. Section 6. FAILURE TO COMPLETE. If the OWNER fails to complete the Improvements provided for herein in conformity with the approved plans, drawings, and specifications and the terms of this Agreement, then upon written notice being given by the City to the OWNER, this Agreement shall terminate with no further action necessary by the City, and the financial or any other obligations on the part of the City under this Agreement shall cease and become null and void.