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A letter on the GRANTEE's letterhead, addressing all of the following elements, and <br />signed by the GRANTEE's AUTHORIZED REPRESENTATIVE: <br />a) Name, address and telephone number of the title company or escrow holder, and <br />the escrow account number to which the GRANT funds will be disbursed. <br />b) Copy of the property appraisal and written concurrence. <br />C) GRANT CONTRACT number and amount of GRANT funds requested. <br />d) A statement by the GRANTEE that "the preliminary title report shows that there are <br />no liens, easements, or any other restrictions that would prevent completion of the <br />SCOPE and fulfillment of the CONTRACT provisions." <br />e) A statement by the GRANTEE that "all funds (exclusive of the GRANT funds to be <br />provided under this agreement) needed for the completion of the acquisition of the <br />property or properties have been secured and have been or will be deposited to <br />escrow on or about the same date as the requested GRANT funds." In making this <br />statement, the GRANTEE is entitled to reasonably rely on the representations of the <br />seller. <br />2. Cover page of the preliminary title report. <br />3. Payment Request Form: the "Send Warrant To" item 7 on the Payment Request Form <br />must be completed using the title company's or escrow holder's name, mailing address, <br />and contact person. <br />After approval by OGALS, the payment will be mailed by the State Controller's Office to the <br />designated escrow company within approximately 30 working days. <br />Returning Unexpended Advanced Funds or Interest <br />The balance of unspent GRANT funds must be returned to OGALs no later than thirty days after the end <br />of the six-month ADVANCE period. OGALS will then return the GRANT funds to the CONTRACT balance. <br />OGALS cannot return interest to the CONTRACT balance. <br />If interest was earned on the ADVANCED funds, interest must be spent on ELIGIBLE COSTS, and the <br />unspent GRANT funds returned to OGALS. <br />Subsequent Payments <br />Any outstanding ADVANCE payments must be cleared before any additional reimbursements or <br />ADVANCE payments will be approved. <br />This requirement may be waived in cases where a PROJECT requires timely payments to contractors, <br />and the remaining balance of unspent ADVANCED funds cannot cover the next PROJECT payment. <br />The following items are required to request a waiver: <br />1. A letter to the PROJECT OFFICER, signed by the AUTHORIZED REPRESENTATIVE explaining why the <br />waiver is needed. <br />2. The majority of ADVANCED funds has been cleared. <br />3. A payment schedule with month -by -month estimates detailing the anticipated amount needed <br />including the unspent balance of previously ADVANCED funds, along with the additional <br />requested reimbursement or ADVANCE. <br />33 <br />