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EIAF #8550 — Louisville MAC Gym Expansion <br />3. RECITALS <br />A. Authority, Appropriation, and Approval <br />Authority to enter into this Grant exists in C R S 24-32-106 and 29-3 5-101 and funds have been budgeted, <br />appropriated and otherwise made available pursuant to C.R S 39-29-110 (Local Government Severance <br />Tax Fund) and a sufficient unencumbered balance thereof remains available for payment Required <br />approvals, clearance and coordination have been accomplished from and with appropriate agencies <br />B. Consideration <br />The Parties acknowledge that the mutual promises and covenants contained herein and other good and <br />valuable consideration are sufficient and adequate to support this Grant. <br />C. Purpose <br />The purpose of this Grant is described in Exhibit B <br />D. References ) <br />All references in this Grant to sections (whether spelled out or using the § symbol), subsections, exhibits or <br />other attachments, are references to sections, subsections, exhibits or other attachments contained herein or <br />incorporated as a part hereof, unless otherwise noted <br />4. DEFINITIONS <br />The following terms as used herein shall be construed and interpreted as follows. <br />A. Budget <br />"Budget" means the budget for the Project and/or Work descnbed in Exhibit B. <br />B. Closeout Certification <br />"Closeout Certification" means the Grantee's certification of completion of Work submitted on a form <br />provided by the State <br />C. Evaluation <br />"Evaluation" means the process of examining Grantee's Work and rating it based on criteria established in <br />§6 and Exhibit B. <br />D. Exhibits and other Attachments <br />The following are attached hereto and incorporated by reference herein - <br />i. Exhibit B (Scope of Project) <br />ii. Exhibit G (Form of Option Letter) <br />E. Goods <br />"Goods" means tangible material acquired, produced, or delivered by Grantee either separately or in <br />conjunction with the Services Grantee renders hereunder <br />F. Grant <br />"Grant" means this agreement, its terms and conditions, attached exhibits, documents incorporated by <br />reference pursuant to the terms of this Grant, and any future modifying agreements, exhibits, attachments <br />or references incorporated herein pursuant to Colorado State law, Fiscal Rules, and State Controller <br />Policies <br />G. Grant Funds <br />"Grant Funds" means available funds payable by the State to Grantee pursuant to this Grant. <br />H. Party or Parties <br />"Party" means the State or Grantee and "Parties" means both the State and Grantee <br />I. Pay Request(s) <br />"Pay Request(s)" means the Grantee's reimbursement request(s) submitted on form(s) provided by the <br />State. <br />J. Pre -agreement costs <br />"Pre -agreement costs," when applicable, means the costs incurred on or after the date as specified in §2 <br />above, and prior to the Effective Date of this Grant. Such costs shall have been detailed in Grantee's grant <br />application and specifically authorized by the State and incorporated herein pursuant to Exhibit B <br />K. Project <br />"Project" means the overall project described in Exhibit B, which includes the Work <br />Page 3 of 20 <br />