1988-077-RES WHEREAS, the City Council of the City of Paris, did in Resolution No. 88-065 on July 11, 1988, authorize

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incurred, or expended by the time one-half of the Federal share has been disbursed. Exceptions to this mid-point, pro rata requirement must be approved in writing by the GRA. b. Specific procedures for valuation of in-kind contribut~qns are given in Attachment F of OMB A-l02 and Attachment E of OMB A-~lO~ as,applicable. Where the Grantee shall have claimed credit for contributlons-in-kind to the total cost of allowable expenses, the evaluation of such contributions-in-kind shall be subject to reevaluation by the Grantor at any time, and any deficiency so determined by the Grantor shall be compensated by supplemental contributions by the Grantee as a condition for further disbursement by the Grantor. 14. INTEREST a. Excluding States, but not excluding political subdivisions of states, any interest earned on funds paid to the Grantee under this grant shall be reported and returned to the Government within ten days after receipt of such interest according to directions specified by the GRA. b. standards to be applied in accounting for program income are set forth in Attachment E of OMB A-l02 and Attachment D of OMB A-llO, as applicable. 15. BUDGET AND STAFFING MODIFICATIONS a. Attachment K of OMB A-l02 and Attachment J of OMB A-110 set forth the criteria and procedures for requesting budget revisions. The written approval of the GRA is required when the Federal share of a grant exceeds ,100,000 ~ the cumulative amount of line item budget transfers exceeds or is expected to exceed five percent of the total budget. Approval will be given only when the requested changes serve the same purpose as the original grant. This includes situations in which one line item can be reduced without significant adverse effect on the purpose of that item, but at the same time another line item must be increased in order to accomplish its particular objective. b. Time extensions may be offered by the GRA in the form of a grant amendment if (1) the grantee has shown reasonable progress with the project activity and (2) there is good reason for the grantee's inability to complete the required work by the specified date. c. Any increase in the EDA funds must have prior approval of the Grantor and be accomplished through a formal written amendment to the Grant. 16. SUSPENSION AND TERMINATION a. When a Grantee has failed to comply with the grant award stipulations, standards, or conditions, including financial, progress and any other reporting requirements set forth in the Special and General Terms, the Grantor may, on reasonable notice to the Grantee, suspend the grant, and withhold further payments, or prohibit the Grantee from incurring additional obligations of grant funds, pending corrective action by the Grantee or a decision to terminate in accordance with the following paragraphs. The Grantor may allow all necessary and proper costs which the Grantee could not reasonably avoid during the period of suspension, provided they meet the allowable cost provisions of OMB A-87 or OMB A-21, as appropriate. - 9 -