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PART B: PROGRAM FUNDING <br /> <br />Section 2: Grant Amount <br /> <br /> (a) The Agency has approved a Program Grant to Cabarrus County Department on <br />Aging in the principal amount of Fifty-eight Thousand Eight-Hundred-two Dollars <br />($58,802). In no event shall expenditures under this Agreement exceed this Program Grant. <br /> <br />Section 3: Disbursement of Funding <br /> <br /> The Recipient will receive Program funds in accordance with the Guidelines, section <br />3.2 Disbursements. <br /> <br />Section 4: Deposit of Funds <br /> <br /> (a) Any money advanced to the Recipient must be deposited, tracked and documented <br />in accordance with the Guidelines, sections 3.4 Recipient Accounts and 3.5 Program Income. <br /> <br /> (b) The Agency reserves the fight to require that all deposits made in eligible accounts <br />will be subject to withdrawal by the Recipient and will also be subject to withdrawal by the <br />Agency. If the Agency chooses to exercise this option, an agreement for custodial accounts <br />will be provided by the Agency to implement the requirement and will be executed prior to <br />the initial disbursement. <br /> <br /> (c) Checks wilt be delivered to the addresses provided in section 21 of <br /> <br />this Agreement. <br /> <br />F:~PRIVATE~HOPD\URI~URP99~FUNDING AGREEMENT MERGE..DOC <br /> <br />Page 3 of 7 <br /> <br /> <br />