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GRANTEE: <br />THE MEADOWS FOUNDATION <br />GRANT CONTRACT <br />City of Paris, Texas <br />MEETING DATE: <br />GRANT NO.: <br />AMOUNT: <br />March 24, 1987 <br />87030059._01 <br />$55,000 <br />PURPOSE: Toward development of permanent sheds for a farmers market in the <br />historic Market Square of downtown Paris <br />TERMS AND CONDITIONS: Payable May 10, 1987, contingent upon finalization of <br />National Trust loan commitment and on construction <br />initiation <br />1. This grant is for the specific purposes set forth herein, and monies <br />received under this agreement should be. expended for no other purpose <br />without the express, written approval of the Meadows Foundation. Any <br />earnings accruing from these grant funds should be credited to the support <br />of the project being funded and added to the balance of that account. <br />2. Grantee specifically agrees that no part of the funds received from <br />this grant will be used to carry on propaganda, influence legislation, <br />influence the outcome of any specific public election, or carry on, directly <br />or indirectly; any voter registration drive. <br />3. Grantee understands that under the terms of the charter of the <br />Meadows Foundation, grant monies are awarded for the use of grant recipients <br />within the State of Texas for the benefit of the people of Texas. <br />4. Grantee agrees immediately to notify the Meadows Foundation, in <br />writing, if (i) Grantee's federal tax status is revoked or altered; (ii) <br />Grantee has reasonable grounds to believe that its tax exempt status may be <br />revoked or altered; or (iii) Grantee has reason to believe that these grant <br />monies cannot be or continue to be expended for the specified purposes. <br />5. In the event that Grantee loses its tax exempt status before all <br />funds under this grant are dispensed, this grant contract will become null <br />and void and all obligations of the Meadows Foundation hereunder will <br />terminate. <br />6. Grantee understands that the Meadows Foundation considers each <br />request on an individual basis, and that this grant should not be construed <br />as establishing a precedent for subsequent gifts to Grantee. <br />