4.5. SR 07-09-2012 - Laserfiche WebLink

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Property, and that will not be bettered, or (iii) the useful life of the Facility after the completion of the constn~ction or betterments for Facilities that are to be constnlcted or bettered. Article II GRANT Section 2.01 Grant of Monies. DEED shall make and issue the Program Grant to the Public Entity, and disburse the proceeds in accordance with the provisions of this Agreement. The Program Grant is not intended to be a loan even though the portion thereof that is disbursed may need to be returned to DEED or the Commissioner of MMB under certain circumstances. Section 2.02 Public Ownership. The Public Entity acknowledges and agrees that the Program Grant is being funded with the proceeds of G.O. Bonds, and as a result thereof all of the Real Property and, if applicable, Facility must be owned by one or more public entities. Such ownership may be in the form of fee ownership, a Real Property/Facility Lease, or an easement. In order to establish that this public ownership requirement is satisfied, the Public Entity represents and warrants to DEED that it has, or will acquire, the following ownership interests in the Real Property and, if applicable, Facility, and, in addition, that it possess, or will possess, all easements necessary for the operation, maintenance and management of the Real Property and, if applicable, Facility in the manner specified in Section 2.04: (Check the appropriate box for the Real Property and, if applicable, for the Facility.) Ownership 117terest in the Real Property. © Fee simple ownership of the Reah Property. © A Real Property/Facility Lease for the Real Property that complies with the requirements contained in Section 2.06. [If the teen of the Real Property/Facility Lease is for a tet7n authorized by a Minnesota statute, rule or session law, then insert the citation at this point .] An easement for the Real Property that complies with the requirements contained in Section 2.06. [If the term of the easement is for a term authorized by a Minnesota statute, rule or session law, then insert the citation at this point Ownership Islterest in, if applicable, the Facility. Fee simple ownership of the Facility. A Real Property/Facility Lease for the Facility that complies with all of the DEED Greater MN Business Development Public Infrastructure Program 6 Ver- 2/16/10 Grant Agreement for Construction Grants (DEED GO GA- Cnstrctn Grnt)