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<br />+44i) BJ' no latcr than J~ne 20, 2008 <br /> <br />,100,000.00 ~ <br /> <br />c>Hflulative u:!'eAEli turea of Ret less thaR ,250,000.00; <br /> <br />(i?) BY Be later tfiaA Se!'tembor 30, 2088 <br /> <br />>100,000.00 ".:ith <br /> <br />cUlRulati.,e c,,!,cnElit,u:es of Rot 105s than ,350,000.00, <br /> <br />(-:) BY H8 later thaR December 31, 2008 <br /> <br />.50,999_99 t;ith <br /> <br />oUll\ulati.c c"ponEliturcs ef Ret l<:ss thaH ,100,909.00. <br /> <br />(i) by no later than January 31, 2008 - $50,000.00; <br /> <br />(ii) b <br /> <br />no later than March 31, 2008 <br /> <br />$37,000.00 with <br /> <br />cumulative expenditures of not less than $87,000.00; <br /> <br />(iii) by no later than June 30, 2008 <br /> <br />$20,000.00 with <br /> <br />cumulative expenditures of not less than $107,000.00; <br /> <br />(iv) b no later than Se tember 30, 2008 - $13,000.00 with <br /> <br />cumulative expenditures of not less than $120,000.00; <br /> <br />(v) b <br /> <br />no later than March 31, 2009 <br /> <br />$50,000.00 with <br /> <br />cumulative expenditures of not less than $170,000.00; <br /> <br />(vi) b <br /> <br />no later than Au ust 31, 2009 <br /> <br />$70,000.00 with <br /> <br />cumulative expenditures of not less than $240,000.00; and <br /> <br />(vii) b <br /> <br />no later than December 3l, 2009 <br /> <br />$160,000 with <br /> <br />total cumulative expenditures of $400,000.00 and completion of <br /> <br />the Proiect. <br /> <br />milestones shall be an event of default hereunder resulting in recapture <br /> <br />Failure to meet the above Project completion and funding <br /> <br />of all unspent CDBG funds and the cessation of future payments to CITY. <br /> <br />In such Circumstances, COUNTY reserves the right to re-allocate the <br /> <br />subject CDBG funds to other eligible CDBG projects or programs of the <br /> <br />COUNTY." <br /> <br />First Amendment HUD CDBG Agreement with City of Casselberry 2007-2008 <br />Page 4 of 10 <br />