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<br />Generic GO Bond Proceeds 8 Ver – 10/26/2020 <br />Grant Agreement for Construction Grants <br /> <br />Project, would qualify as a public improvement of a capital nature (as such term in used in Minn. <br />Constitution Art. XI, §5(a) of the Minnesota Constitution), and the cost of which has been <br />established by way of written documentation that is acceptable to and approved, in writing, by <br />the State Entity and the Commissioner of MMB. <br /> <br />“Use Contract” - means a lease, management contract or other similar contract between <br />the Public Entity and any other entity that involves or relates to any part of the Real Property <br />and/or, if applicable, Facility. This definition is only needed and only applies if the Public Entity <br />enters into an agreement with another party under which such other party will operate the Real <br />Property and/or, if applicable, Facility. For all other circumstances this definition is not needed <br />and should be ignored and treated as if it were left blank, and any reference to this term in this <br />Agreement shall be ignored and treated as if the reference did not exist. <br /> <br />“Useful Life of the Real Property and, if applicable, Facility” – means the term set forth <br />in Section 2.05.X, which was derived as follows: (i) 30 years for Real Property that has no <br />structure situated thereon or if any structures situated thereon will be removed, and no new <br />structures will be constructed thereon, (ii) the remaining useful life of the Facility as of the <br />effective date of this Agreement for Facilities that are situated on the Real Property as of the <br />date of this Agreement, that will remain on the Real Property, and that will not be bettered, or <br />(iii) the useful life of the Facility after the completion of the construction or betterments for <br />Facilities that are to be constructed or bettered. <br /> <br />Article II <br />GRANT <br /> <br />Section 2.01 Grant of Monies. The State Entity shall make and issue the G.O. Grant to the <br />Public Entity, and disburse the proceeds in accordance with the provisions of this Agreement. The <br />G.O. Grant is not intended to be a loan even though the portion thereof that is disbursed may need to <br />be returned to the State Entity or the Commissioner of MMB under certain circumstances. <br /> <br />Section 2.02 Public Ownership. The Public Entity acknowledges and agrees that the G.O. <br />Grant is being funded with the proceeds of G.O. Bonds, and as a result thereof all of the Real Property <br />and, if applicable, Facility must be owned by one or more public entities. Such ownership may be in <br />the form of fee ownership, a Real Property/Facility Lease, or an easement. In order to establish that <br />this public ownership requirement is satisfied, the Public Entity represents and warrants to the State <br />Entity that it has, or will acquire, the following ownership interests in the Real Property and, if <br />applicable, Facility, and, in addition, that it possess, or will possess, all easements necessary for the <br />operation, maintenance and management of the Real Property and, if applicable, Facility in the <br />manner specified in Section 2.04: <br /> <br />(Check the appropriate box for the Real Property and, if applicable, for the Facility.) <br /> <br />Ownership Interest in the Real Property. <br /> <br />X Fee simple ownership of the Real Property.