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1NSURANCS ,~~pT RE <br />'vVGF.~ ,,,: n,, QUIRED <br />• ~'~ ~ ~ "ROCEED A-2009-102 <br />CLErr,+~ 0;'~ COUNCIL <br />~~ATF~ <br />AUG p ~ 20 <br />LA84 <br />~ ~ Foundation <br />~ 2 Grant No. 21655 <br />I <br />~~ <br />NON-CAPITAL <br />o ~`' GRANT AGREEMENT <br />~~ <br />THIS GRANT AGREEMENT is made and entered into by and between the LA84 <br />FOUNDATION (the "Foundation") and CITY OF SANTA ANA (the "Grantee"). <br />RECITALS <br />A. The Foundation, a California nonprofit public benefit corporation, is <br />organized for the purpose of aiding and assisting, through contributions and otherwise, amateur <br />sports programs, primarily for youth, in the Southern California area and desires to make a grant <br />to the Grantee in furtherance of that purpose. <br />B. The Grantee is willing to accept such grant on the terms and conditions of <br />this Agreement. <br />TERMS & CONDITIONS <br />In consideration of the facts recited above and the mutual covenants, conditions <br />and representations set forth herein, the parties agree and covenant as follows: <br />1. Grant. Subject to the provisions of this Agreement, the Foundation <br />hereby agrees to grant the sum of not more than $50,000 (the "Grant") to the Grantee for the <br />purposes set forth on Schedule A attached hereto. The Foundation shall have no obligation, <br />however, to segregate or set aside any funds or assets for the payment of the Grant. The <br />Grantee shall use the Grant solely for the purposes, and for organizing, implementing and <br />conducting the program (the "Program"), set forth on Schedule A attached hereto. <br />Notwithstanding any other provision of this Agreement, the Grant shall be used only for <br />charitable and educational purposes qualifying under Section 170(c)(2)(B) of the Internal <br />Revenue Code of 1986, as amended (the "Code"), and neither the Grant nor the income <br />therefrom may be used for purposes other than those so described. Subject to the provisions of <br />Paragraphs 3 and 8 herein, the Grant shall be payable as set forth on Schedule B attached <br />hereto. The Grantee covenants that it will hold all unexpended amounts of the Grant in interest- <br />bearing bank accounts with the bank or banks set forth on Exhibit B attached hereto. The Grant <br />will commence on date of board approval January 28, 2009 and conclude one year later. <br />2. Program. As an inducement to the Foundation to make the Grant, the <br />Grantee has previously submitted a written proposal (the "Proposal") to the Foundation, which <br />