STATE COSTAL CONSERVANCY (STATE OF CALIFORNIA)

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City of Santa Ana Grant Agreement No. 23-155 Page 7 hundred percent (100%) of the contract value; and for labor and materials, one hundred percent (100%) of the contract value. This requirement does not apply to any contract for less than $250,000. Any bond furnished under this section must be executed by an admitted corporate surety insurer licensed in the State of California. IX. COSTS AND DISBURSEMENTS When the Conservancy determines that all conditions in section "II. CONDITIONS PRECEDENT TO CONSTRUCTION AND DISBURSEMENT" have been fully met, the Conservancy shall disburse to the grantee a total amount not to exceed the amount of this grant, in accordance with the approved project budget and this section. The withholding for this agreement is five percent. The Conservancy shall disburse funds for costs incurred to date, less five percent, upon the grantee's satisfactory progress under the approved work program, and upon the grantee's submission of a "Request for Disbursement" form, which shall be submitted no more frequently than monthly but no less frequently than quarterly. The Conservancy shall disburse the five percent withheld upon the grantee's satisfactory completion of construction and compliance with section "XI. PROJECT COMPLETION", and upon the Conservancy's acceptance of the project. Hourly rates billed to the Conservancy must be equal to the actual compensation paid by grantee to employees, which may include employee benefits. The grantee shall require its employees to keep records of their time spent on the project for purposes of documenting the employee time billed to the Conservancy. The Conservancy will reimburse the grantee for expenses necessary to the project when documented by appropriate receipts. The Conservancy will reimburse travel and related expenses as follows: • Airfare and rental cars: the lowest cost option at the time of booking. • Meals and incidentals: actual costs, up to $60 per travel day. • Hotels: the federal employee rates identified on the U.S. General Services Administration website under per diem rates for California. • Mileage reimbursement using a personal vehicle: the state employee rates identified on the California Department of Human Resources (Ca1HR) website under travel reimbursements for state employees. The grantee shall request disbursements by filing with the Conservancy a fully executed "Request for Disbursement" form (available from the Conservancy). The grantee shall include in the form its name and address, the number of this agreement, the date of the submission, the amount of the invoice, the period during which the work was actually done, and an itemized