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

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B. Non-appropriation/Insufficient Appropriation Payments pursuant to this Agreement are subject to the availability of applicable federal and/or state funding from the Department and their appropriation and authorized expenditures under State law. The Department shall use its best efforts to secure sufficient appropriations to fund this Agreement. However, the Department's obligations hereunder shall cease immediately, without penalty or further payment being required, if the Illinois General Assembly or federal fundnig source fails to make an appropriation sufficient to pay such obligation. The Department, at its sole discretion, shall determine whether amounts appropriated are sufficient to continue its obligations under this Agreement. Termination resulting from non-appropriation or insufficient appropriation shall be in accordance with Section 5.5(A)(1)hereof. Any grant is void by operation of law if the Department fails to obtain the requisite appropriation to pay the grant in any year in which this Agreement is in effect. C. Reduced Funding Sources/Revenue The Department reserves the right to reduce the amount to be paid to Grantee under this Agreement if the Department determines that it is in the best interest of the State of Illinois to reduce its obligation under this Agreement as a result of the occurrence of any of the following events during the term of the Agreement: (1) Receipts from revenues which provide the funding for this Agreement either fall significantly short of anticipated levels,or significantly decrease,or (2) Other sources (external grants, contracts, awards, etc.) providing funds for this Agreement are decreased or withdrawn.If such an event occurs,the Department will notify the Grantee as soon as possible. If the Department and Grantee are able to agree on a reduced compensation amount and a corresponding reduced scope of services, the parties shall execute a grant modification so stating. If the Department and Grantee are unable to agree on the reduced compensation and reduced scope of services, the Department shall terminate the Grant in accordance with the provisions of Section 5.5(A)(2)herein. 5.3 GRANT CLOSE-OUT A. Final Grantee Report In addition to any other reporting requirements specified in this Agreement, the Grantee shall complete and submit a Final Grantee Report on forms provided by the Department, within forty-five (45) days of the earlier of the Grant Period end date or the effective date of termination of this Agreement. The Grantee should refer to the Welcome Package and the Reports Deliverable Schedule for the specific reporting requirements and due dates. The Grantee must report on the expenditure of Grant Funds provided by the State, and if applicable, the Grantee's required matching funds. The Grantee is responsible for taking the necessary steps to correct any deficiencies disclosed by such Final Grantee Report,including such action as the Department,based on its review of the report,may direct. B. Grant Refunds In accordance with the Illinois Grant Funds Recovery Act, 301LCS 705/1,et seq., the Grantee must, within forty-five (45) days of the earlier of the Grant Period end date or the effective date of termination of this Agreement,refund to the Department,any balance of Grant Funds not spent or not obligated as of said date. 5.4 DEFAULT AND REMEDIES The occurrence of any of the following events,during the grant term,shall constitute a default: A. Grantee shall fail to observe or perform any covenant or agreement contained in this Agreement, including the Exhibits hereto; B. Any representation, warranty, certificate or statement made by the Grantee in this Agreement, including the Exhibits hereto, or in any certificate, report, financial statement or other document delivered pursuant to this Agreement shall prove to have been incorrect when made in any material respect; Page 18 Grant plumber 15-203002