R2014-126 AGREEMENT WITH ILLINOIS DEPARTMENT OF COMMERCE & ECONOMIC OPPORTUNITY

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(9) That this Agreement has been duly executed and delivered on behalf of the Grantee and constitutes a legal,valid and binding obligation of the Grantee,enforceable in accordance with its terms,except to the extent that enforcement of any such terms may be limited by (a) Applicable bankruptcy, reorganization, debt arrangement, insolvency or other similar laws generally affecting creditors'rights;or (b) Judicial public policy limitations upon the enforcement of certain remedies including those which a court of equity may in its discretion decline to enforce; and performance required under this Agreement;and (10)Grantee certifies that it is not currently operating under or subject to any cease and desist order,or subject to any informal or formal regulatory action,and,to the best of Grantee's knowledge,that it is not cur ently the subject of any investigation by any state or federal regulatory,law enforcement or legal authority. Should it become the subject of an investigation by any state or federal regulatory, law enforcement or legal authority, Grantee shall promptly notify the Department of any such investigation. Grantee acknowledges that should it later be subject to a cease and desist order,Memorandum of Understanding,or found in violation pursuant to any regulatory action or any court action or proceeding before any administrative agency,that the Department is authorized to declare Grantee in default of this Agreement and suspend or terminate the Agreement pursuant to Section 5.5. B. General Covenants In connection with the execution and delivery of this Agreement, the Grantee makes the following covenants to the Department, which are in addition to any specific covenants contained in this Agreement: (1) That it will use Grant Funds only for the purposes set forth in the Budget (Part 1) and Scope of Work(Part II),respectively,of this Agreement; (2) That all warranties and representations made by the Grantee in this Agreement shall be true, accurate and complete for the term of the Agreement; (3) That it shall be subject to, obey, and adhere to any and all federal, state and local laws, statutes, ordinances,rules,regulations and executive orders as are now or may be in effect during the term of this Agreement which may be applicable to the Grantee; (4) That it shall remain solvent and able to pay its debts as they mature. In the event of bankruptcy filing by the Grantee, voluntary or involuntary, the Department may decline to make any further payment,which may otherwise be required under this Agreement; (5) That it shall immediately notify the Departrn mt of any and all events or actions that may materially adversely affect its ability to carry on its operations or perform any or all of its obligations under this Agreement;and (6) That it shall not enter into any other agreement or transaction that would conflict with the performance of its duties hereunder. 5.2 APPROPRIATION, NONAPPROPRIATION/INSUFI+ICIENT APPROPRIATION• REDUCED FUNDING SOURCES/REVENUES A. Appropriation The Grantee is hereby given actual knowledge that pursuant to the State Finance Act,30 ILCS 105/30, payments under this grant are contingent upon the existence of a valid appropriation therefore and that no officer shall contract any indebtedness on behalf of the State,or assume to bind the State in an amount in excess of the money appropriated,unless expressly authorized by law. Page 17 Grant Number 15-203002