9-21 Exhibit - Authorizing Execution of Grant Agreement for the HDSRF Grant Funds for Removal of UST at the Selecto-Flash Property a_.pdf

C. It has adopted by ordinance or resolution a comprehensive plan specifically for the development or redevelopment of contaminated or potentially contaminated real property in its municipality or can demonstrate to the Authority that a realistic opportunity exists that the Project Site will be developed or redeveloped within a three-year period from the completion of the remediation. Evidence of the foregoing is set forth in Schedule D (in the event a resolution was adopted). 2.4. Pending Litigation No litigation of any nature is now pending or threatened to restrain, enjoin, or invalidate the execution of this Agreement or the performance by Grantee of its covenants and obligation thereunder. 2.5. No Defaults The Grantee is not presently in breach or default in any material respect in the performance, observance, or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or is otherwise bound. 2.6. Important Inducement The availability of the Grant by the Authority as provided herein has been an important inducement to the Grantee to undertake the Project. 2.7. Use of Grant Monies The Grant monies received by Grantee pursuant to this Agreement shall be used and applied by Grantee solely for the purpose of performing preliminary assessments, and/or site investigations, and/or remedial investigations and /or remedial actions on the Project Site in accordance with the scope of work approved by DEP. It is specifically understood and agreed that funds approved for performing preliminary assessments and/or site investigations shall be expended within two (2) years after the date of the award; and funds approved for remedial investigation shall be expended within five (5) years after the date of the award. Failure to expend an award of financial assistance or a grant from the remediation fund within the prescribed time limits shall result in cancellation of the award. For the purposes of this Agreement, expended monies shall mean any grant funds disbursed by Grantor to Grantee for the Project Site in accordance with the scope of work approved by DEP. 2.8. Compliance with Act and Regulations As of the date hereof, Grantee is in full

isbursed by Grantor to Grantee for the Project Site in accordance with the scope of work approved by DEP. 2.8. Compliance with Act and Regulations As of the date hereof, Grantee is in full compliance with all the terms, conditions and requirements of the Act and the Regulations. 2.9. Verification of Project Description The description and summary of the Project as set forth in Schedule A hereof is true, complete and correct. 2.10. Licenses and Consents All state, federal and county governmental consents, licenses, and approvals necessary or required to prosecute the Project to completion have been obtained and are in full force and effect. 2.11. Full Disclosure All representations, statements, and warranties of the Grantee set forth in its application to the Department or any documents delivered to the Department or the Authority by the Grantee in connection with the Grant: (i) are true, correct and complete; (ii) do not contain any untrue statement of material fact; and (iii) contain all material facts necessary to make the statements contained therein not misleading or P45524 Township of West Orange (Selecto Flash Inc.)