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PRESERVATION AND RESTORATION GRANT PROGRAM AGREEMENT THIS PRESERVATION AND RESTORATION GRANT PROGRAM AGREEMENT (hereinafter "Agreement") is made and entered into this 26th day of March, 2021, by and between the City of Louisville, a Colorado home rule municipal corporation (hereinafter "City") and 701 Grant LTD (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 which 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 701 Grant Avenue, Louisville, Colorado; and WHEREAS, the Property owner submitted an application to the City for approval of a Historic Preservation Fund Grant and for funding of restoration and structural improvements to the Structure; and WHEREAS, on March 16, 2021, the City Council adopted Resolution No. 22, Series 2021, entitled A Resolution Approving a Historic Preservation Fund Grant for the Louisville First Baptist Church, located at 701 Grnat Avenue (the "Resolution"); and WHEREAS, the Resolution approved a matching grant in the amount of up to $124,047.20 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 section2 of this Agreement, the City agrees to reimburse the Property Owner in compliance with this Agreement in an amount of up to $124,047.20 (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. 22, Series 2021 and as summarized in the attached Exhibit A (the "Work"). This Grant is in addition to the $5,000 unmatched landmark incentive grant available following the signing of this Agreement. The City shall not make any disbursements unless elements of the Work are in compliance with all applicable plans, specifications, approvals and requirements. 1