Resolution 2015-56 - Laserfiche WebLink

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and examinations and determining compliance with this Agreement. The City shall have access to the originals of all such materials and may make and keep copies thereof. If the City upon audit or otherwise determines that any amount has been paid to Property Owner in error for any reason, including, but not limited to overpayments or improper payments, then such funds shall be immediately repaid to the City upon demand and the same may be collected by any appropriate method as a debt to the City. Amounts not so repaid within 15 days of demand shall bear interest at the rate of one and one-half percent from the time of demand until the date of payment. 4. COMPLETION OF WORK: The Property Owner will undertake the construction of the Work in a timely manner and shall endeavor to complete the Work within 12 months of the issuance of the first building permit for the Work. 5. OTHER COSTS: Each party shall bear its own legal, accounting, overhead and administrative costs incurred in the drafting, execution or performance of this Agreement. 6. COMPLIANCE WITH CITY ORDINANCES: The Property Owner shall comply with all applicable City ordinances, resolutions and building codes and shall be responsible at its own expense for obtaining and complying with all building and other permits required by the City for the completion of the Work. 7. TAX IMPLICATIONS: The City shall disclose the amount of grant funds distributed to the Property Owner to the Internal Revenue Service in accordance with the Internal Revenue Code and shall provide to the Property Owner and IRS Form 1099 showing the amount received. The Property Owner acknowledges and understands that grant funds constitute taxable income. The City makes no presentations or warranties concerning the tax consequences to the Property Owner as a result of receiving the grant funds. 8. FAILURE TO COMPLY: Any failure of the Property Owner to comply with the terms and conditions of this Agreement or Grant program requirements shall terminate the Property Owner's right to the Grant payment. Any termination pursuant to this Section shall be effective upon the date of written notice provided by the City. 9. NOTICE: Any notices or communication required or permitted hereunder shall be given in writing and shall be personally delivered, or sent by facsimile transmission or by United States mail, postage prepaid, registered or certified mail, return receipt requested, addressed as follows: City: Grant Recipient: City of Louisville David and Sara Aglietti Attn: City Manager 749 Main Street 1145 Main Street Louisville, CO 80027 Louisville, CO 80027 Fax: (303) 335-4550 3