Packet: Tiffin City Council Regular Meeting (03/03/2026)

iii. Terminate this Agreement. B. City’s Obligations 1. Disbursement of Grant Proceeds. The City hereby agrees to advance the proceeds of the Grant to the Company in the amount of Eighty-Seven Thousand Dollars ($87,000) within thirty (30) days of the Commencement Date of this Agreement. C. Administrative Provisions 1. Amendment and Assignment. Neither party may cause this Agreement to be amended, assigned, assumed, sold or otherwise transferred without the prior written consent of the other party. 2. Successors. This Agreement shall inure to the benefit of and be binding upon the successors and assigns of the parties. 3. Term. The term (the “Term”) of this Agreement shall commence on the Commencement Date and shall continue until all obligations of the parties under this Agreement have been fully performed and satisfied. Upon such date, this Agreement shall automatically terminate without further action by the parties. 4. Choice of Law. This Agreement shall be deemed to be a contract made under the laws of the State of Iowa and for all purposes shall be governed by and construed in accordance with laws of the State of Iowa. -3- 4934-1480-3346\2