Common use of SUBRECIPIENT’s Responsibilities Clause in Contracts

SUBRECIPIENT’s Responsibilities. The Subrecipient will be responsible for administering a CDBG revolving loan program, also referred to as Regional Revolving Loan Fund (“Regional Fund”), for the UGLG identified above. The Subrecipient will administer all tasks in connection with the aforesaid program in compliance with all applicable Federal, state, and local laws, statutes, rules and regulations, and MSF program guidance (Grant Application Manual or Guide, hereinafter “GAM”) as may be amended from time to time, governing these funds, and in a manner satisfactory to the UGLG and the MSF. Changes to the program focus and objectives, or services, contained in this Agreement, unless otherwise noted, may only be made through a written amendment to this Agreement, executed by both the Subrecipient and UGLG and acknowledged by the MSF Fund Manager or designee. The focus of the Subrecipient’s efforts under this Agreement will be the provision of loans to private, for-profit businesses located in the jurisdiction of the UGLG that will result in the creation of jobs primarily for low-and moderate-income individuals at those businesses or which will meet another permissible CDBG National Objective as provided in the GAM. The major tasks that the Subrecipient will perform in connection with the operation of a Regional Fund include, but are not limited to, the following:

SUBRECIPIENT’s Responsibilities. The Subrecipient will be responsible for administering a CDBG revolving loan program, also referred to as Regional Revolving Loan Fund (“Regional Fund”), for the UGLG identified above. City of Coldwater The Subrecipient will administer all tasks in connection with the aforesaid program in compliance with all applicable Federal, state, and local laws, statutes, rules and regulations, and MSF program guidance (Grant Application Manual or Guide, hereinafter “GAM”) as may be amended from time to time, governing these funds, and in a manner satisfactory to the UGLG CITY and the MSF. Changes to the program focus and objectives, or services, contained in this Agreement, unless otherwise noted, may only be made through a written amendment to this Agreement, executed by both the Subrecipient and UGLG CITY and acknowledged by the MSF Fund Manager or designee. The focus of the Subrecipient’s efforts under this Agreement will be the provision of loans to private, for-profit businesses located in the jurisdiction City of the UGLG Coldwatr that will result in the creation of jobs primarily for low-and moderate-income individuals at those businesses or which will meet another permissible CDBG National Objective as provided in the GAM. The major tasks that the Subrecipient will perform in connection with the operation of a Regional Fund include, but are not limited to, the following: