Common use of Purchase of Real Property Clause in Contracts

Purchase of Real Property. If permitted by the Award Budget and scope of activities provided in this Agreement, a Grantee may use the Grant Funds during the Award Term for the costs associated with the purchase of real property (as definedby 2 CFR 200.1) either through the use of reimbursement or advanced funds as permitted in Paragraph 2.3 of this Agreement for the following purposes and consistent with the Grantor’s bondability guidelines and 2 CFR 200: (a) Cash payment of the entirety or a portion of the real property acquisition; (b) Cash Payment of a down payment for the acquisition; (c) Standard and commerciallyreasonable costs required to be paid at the acquisitionclosing (i.e., closing costs); or (d) Payments to reduce the debt incurred by Grantee to purchase the real property.

Purchase of Real Property. If permitted by the Award Budget and scope of activities provided in this Agreement, a Grantee may use the Grant Funds during the Award Term for the costs associated with the purchase of real property (as definedby 2 CFR 200.1) either through the use of reimbursement or advanced funds as permitted in Paragraph 2.3 Exhibit C of this Agreement for the following purposes and consistent with the Grantor’s bondability guidelines and 2 CFR 200: (a) Cash payment of the entirety or a portion of the real property acquisition; (b) Cash Payment of a down payment for the acquisition; (c) Standard and commerciallyreasonable costs required to be paid at the acquisitionclosing (i.e., closing costs); or (d) Payments to reduce the debt incurred by incurredby Grantee to purchase the real property.