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PRESERVATION AND RESTORATION GRANT PROGRAM AGREEMENT THIS PRESERVATION AND RESTORATION GRANT P4OGRAM AGREEMENT (hereinafter "Agreement") is made and entered into this ZS day of e{ a Y's 1 , 2021, by and between the City of Louisville, a Colorado home rule municipal corporation (hereinafter "City") and Curtis McDonald (hereinafter "Property Owner"). WITNESSETH: WHEREAS, the City has made certain proceeds of the Historic Preservation Fund available to help property owners rehabilitate and preserve those resources that contribute to the character of historic Old Town Louisville; and WHEREAS, the Property Owner is the owner in fee simple of certain real property (the "Property") and the improvements thereon (the "Structure") located at 541 Jefferson Avenue, Louisville, Colorado; and WHEREAS, the Property owner submitted an application to the City for approval of a Preservation and Restoration Grant for funding of exterior architectural and structural improvements to the Structure; and WHEREAS, on March 16, 2021, the City Council adopted Resolution No.20, Series 2021, entitled A Resolution Approving a Preservation and Restoration Grant for the Hayes House located at 541 Jefferson Avenue (the "Resolution"); and WHEREAS, the Resolution approved a grant in the amount of up to $40,000 to restore and preserve portions of the Structure as set forth in the attached Exhibit A; and WHEREAS, the City and Property Owner desire to enter into this Agreement to define the roles and responsibilities of each of the parties regarding the grant; NOW THEREFORE, in consideration of the mutual promises and covenants contained herein, the parties hereto agree as follows: 1. AMOUNT OF GRANT/ USE OF GRANT FUNDS: Pursuant to the disbursement schedule set forth in section 2 of this Agreement, the City agrees to reimburse the Property Owner in compliance with this Agreement in an amount of up to $40,000 (the "Grant") for the actual costs incurred by the Property Owner for the work set forth in Property Owner's Grant Application as approved by City Resolution No. 20, Series 2021 and as summarized in the attached Exhibit A (the "Work"). The City shall not make any disbursements unless elements of the Work are in compliance with all applicable plans, specifications, approvals and requirements. 2. COST/ DISBURSEMENT: Property Owner shall submit disbursement requests and the City shall make disbursements to Property Owner based upon the requirements in this Agreement. 1