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Exhibit A - 3 <br />interested. For the purposes of this section, partial ownership of publicly traded businesses is not a <br />“direct or indirect interest” unless such partial ownership is sufficiently large as to be able to control <br />the business in whole or in part. <br /> <br />II. Time of Performance <br /> <br />The term “Project Period” as used in this Agreement means the period of time between the beginning <br />date stated in the Basic Provisions and the completion date stated in the Basic Provisions. <br />Subrecipient shall commence work at the completion of Environmental Determination by the City’s <br />Community Development staff or at the beginning of the Program Year, whichever shall occur latter. <br />Subrecipient shall work expeditiously, diligently and continuously to complete the Project to the <br />reasonable satisfaction of the City on or before the end of the Project Period. <br />The term of this Agreement and the provisions herein shall be extended to cover any additional time <br />period during which the Subrecipient remains in control of CDBG funds or other assets, including <br />program income. The City may, at its discretion, extend the term of this Agreement to allow for the <br />expenditure of unexpended funds. <br /> <br />III. Budget <br /> <br />The Subrecipient shall complete a budget and all budgetary amendments in Euna Grants, listing <br />budgetary line items in relation to the project. <br /> <br />Any indirect costs charged must be consistent with the conditions of Paragraph II (C)(2) of Exhibit B of <br />this Agreement. In addition, the City may require a more detailed budget breakdown than the one <br />contained herein, and the Subrecipient shall provide such supplementary budget information in a timely <br />fashion in the form and content prescribed by the City. <br /> <br />IV. Payment <br /> <br />It is expressly agreed and understood that the total amount to be paid by the City under this Agreement <br />shall not exceed the Maximum Reimbursement Amount (stated in the Basic Provisions) for undertaking <br />the Project. Drawdowns for the payment of eligible expenses shall be made against the line item budgets <br />specified in Paragraph III, Budget, herein and in accordance with Paragraph II, Time of Performance. <br />Expenses for general administration shall also be paid against the line item budgets specified in <br />Paragraph III, Budget, and in accordance with Paragraph II, Time of Performance. <br /> <br />Payments may be contingent upon certification of the Subrecipient's financial management system in <br />accordance with the standards specified in 2 CFR 200 Uniform Administrative Requirements. <br /> <br />Requests for reimbursement must be in the format acceptable to the City. Euna Grants shall be used for <br />all reimbursement requests under this agreement and be accompanied by appropriate source <br />documents. Requests for reimbursement shall be submitted to the City no less than once per quarter <br />following execution of this agreement unless otherwise approved by the Community Development <br />Director or designee.