2.3 Early Pledge Fulfillment: Donors may fulfiil Pledges at any time prior to the due date
agreed to in the Pledge Agreement. Donors will be issued tax credits for the SFY approved by
CDFA for that project.
2.4 Non-Collusion Requirement: The Grantee acknowledges that executed Pledge
Agreements will require that the Donors not enter into any agreement or other arrangement
with the Grantee or any other party to recoup, or in any way be reimbursed for, the pledged
tax credit funds that do not qualify for a tax credit.
2.6 Fundraising Reporting Requirements: All Grantees are required to provide monthly
tax credit fundraising reports to CDFA, while in the fundraising stage of the Project. This
report is to be submitted to CDFA by the 5" of each month during the fundraising period via
the Status Reports component on CDFA’s Grants Management System.
3. Total Matching Fund Commitments
3.1 Matching Fund Commitments/Sources and Uses of Funds: CDFA is making this grant
contingent on the Grantee’s ability to obtain firm commitments in the amounts necessary to
complete the Project, and will not release any tax credit funds held by CDFA until firm
commitments are documented and provided to CDFA from the sources, or from acceptable
substitute sources. In the event the funding sources change, an updated Sources and Uses
Statement shall be submitted to CDFA by the Grantee.
4, Standard Conditions
4.1. Legal Existence: By countersigning this Contract, Grantee confirms that it is a
community development corporation, other nonprofit organization involved in community
development, or an employee or other type of cooperative, as referenced in RSA 162-L:4
(h)(i)(3).
4.2 Legal Compliance: The Grantee shall comply with all applicable federal, state, and
local laws, statutes, regulations, executive orders, and rules as they relate to the application,
acceptance, and use of funds for the Project, including but not limited to, requirements
specified in the Contract.
4.3 Legal Remedies: Grantee shall have the right to institute legal proceedings to protect
its rights, including without implied limitation actions for specific performance or monetary
damages, in the event the Donor fails to complete the terms of its Pledge commitment.
4.4 Assignment: The Grantee shall not assign or transfer any of its rights or obligations
under this Contract without the prior written consent of the CDFA, and any attempted
assignment or transfer shall render this Contract null and void.
4.5 Dissolution: In the event of the dissolution of the Grantee corporation, after provision
for payment of all the corporation’s liabilities, the board of directors shall dispose or transfer
all assets of the corporation, exclusively for the exempt purposes of the Grantee corporation,
in such manner or to such organization organized and operated exclusively for similar
purposes as the Grantee, which organization qualifies under section 501(c)3 of the US Internal
Revenue Code.
