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30, CITY OF SAN MARCOS CONTRACT FOR THE REVOLVING LOAN FUND STATE OF TEXAS ] COUNTY OF HAYS ] SECTION 1. PARTIES TO CONTRACT This contract and agreement is made and entered into by and between the City of San Marcos, hereinafter referred to as "City", and hereinafter referred to as "Contractor". The parties hereto have severally and collectively agreed and by the execution hereof are bound to the mutual obligations and to the performance and accomplishment of the tasks described herein. SECTION 2. CONTRACT PERIOD This contract and agreement shall commence on the date of execution of the last signatory of this contract (known as the Date of Execution) as shown on page eighteen (18), and shall terminate one (1) year from the Date of Execution, unless otherwise specifically provided by the terms of this contract. SECTION 3. CONTRACTOR PERFORMANCE A. Contractor shall conduct, in a satisfactory manner as determined by City, an economic development project, hereinafter sometimes referred to as Community Development Block Grant (CDBG) project, in an entitlement area under Title I of the Housing and Community Development Act of 1974, as amended (42 U.S.C. Sec. 5301 et seq.), hereinafter referred to as the Act. Contractor shall perform all activities in accordance with the terms of the Performance Statement, hereinafter referred to as Exhibit A; the Budget, hereinafter referred to as Exhibit B; the Applicable Laws and Regulations, hereinafter referred to as Exhibit C; the Certifications, hereinafter referred to as Exhibit D; the assurances, certifications, and all other statements made by Contractor in its application for the project funded under this contract; and with all other terms, provisions, and requirements set forth in this contract. B. In the event Contractor fails to satisfy any special condition of this contract, fails to implement the project described in Exhibit A, Performance Statement, of this contract, including ensuring the creation or retention of the number of permanent jobs specified therein, or fails to comply with any provision of this contract, in addition to the remedies specified elsewhere in this contract, Contractor may be liable to City for an amount not to exceed City's maximum obligation under this contract, and may be barred from applying for or receiving additional. Revolving Loan Fund (RLF) contracts until repayment to the City is made and any other compliance or audit finding is resolved. SECTION 4. DEPARTMENT OBLIGATIONS A. Measure of Liability In consideration of full and satisfactory performance of the activities referred to in Section 3 of this contract, City will be liable for actual and reasonable costs incurred by Contractor during the contract Page 1 of* TCFoPY02 Revised I 1/5/02 Contrac[ #-