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DocuSign Envelope ID:2FF3C179-7849-4BE0-8458-00933C3F0818 <br /> a. Quarterly Disbursements. Within ten(10)calendar days of the end of each <br /> quarter, commencing with the first full quarter ending after the Effective Date, the <br /> Recipient shall provide the Authority with a detailed accounting of all expenses incurred <br /> by the Recipient for Eligible Uses (the "Quarterly Disbursement Statement"), as set forth <br /> in Paragraph 7.d hereof, on a form supplied by the Authority which must be satisfactory <br /> to the Authority in its sole and absolute discretion.Provided that the Authority approves of <br /> the Quarterly Disbursement Statement, the Quarterly Disbursement will be disbursed <br /> within forty-five (45) days of the Authority's receipt of the Quarterly Disbursement <br /> Statement. Notwithstanding anything to the contrary contained herein, each Quarterly <br /> Disbursement shall also be based on the Recipient's performance under the Strong <br /> Communities Program to date and the Recipient's continued willingness to perform. <br /> Notwithstanding anything to the contrary contained herein,the Authority reserves the right, <br /> in its sole and absolute discretion, to increase, decrease or eliminate the Funds to the <br /> Recipient and the Authority has the right to modify the expenditure timeline as set forth <br /> herein. <br /> b. Final Disbursement. Within forty-five (45) days of the Termination date, <br /> as defined above, provided that the Authority approves Recipient's accounting of all <br /> expenses incurred by the Recipient for Eligible Uses occurring before the Termination <br /> Date,the Authority will make a Final Disbursement. No disbursement shall be made under <br /> this Agreement after the Termination Date, except as provided in this Paragraph 7b <br /> hereof. Any Funds disbursed to the Recipient but not expended by the Recipient as of the <br /> Termination Date shall be returned to the Authority within Five (5) Business Days after <br /> the Termination Date. <br /> C. Rejection of Disbursement Statement. If the Authority rejects the <br /> Recipient's Initial Disbursement Statement or a Quarterly Disbursement Statement, the <br /> Authority shall give its reasons for such rejection in a written notice to Recipient as <br /> provided in Paragraph 19 hereof and the Recipient shall have five(5)Business Days from <br /> the date of receipt of the rejection notice, or within such further time as the Authority in its <br /> sole discretion permits, to cure any defects in the documents submitted and, provided the <br /> cure is accepted by the Authority,additional Disbursements may be made to the Recipient. <br /> If the Recipient fails to cure any defects to the Authority's satisfaction, the Authority may <br /> declare a default under this Agreement, effective upon notice to the Recipient, and shall <br /> have the remedies available to it as set forth in Paragraph 10 hereof. <br /> d. Disbursement Statements. The Initial Disbursement Statement and each <br /> Quarterly Disbursement Statement shall include: <br /> (i) A complete and accurate Strong Communities Program-Cumulative <br /> Accounting of the expenses for Eligible Uses incurred by the Recipient on <br /> a form supplied by the Authority. <br /> (ii) Evidence and back-up documentation of expenses for Eligible Uses, <br /> including, but not limited to, receipts, ledgers, invoices, before and after <br /> pictures, addresses or geographic coordinates, and number of abandoned <br /> 4 <br />