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2. TIME OF PERFORMANCE <br />The effective date of this Agreement will be the date the parties sign and complete execution of this <br />agreement and will be in effect for the time period during which the Subrecipient remains in control of <br />CDBG funds or other CDBG assets. <br />3. AGREEMENT REPRESENTATIVES <br />Each party to this Agreement shall have a representative. Each party may change its representative upon <br />providing written notice to the other party. The parties' representatives are as follows: <br />A. Subrecipient: <br />Name of Representative: <br />Mailing Address: <br />City, State and Zip Code: <br />Telephone Number: <br />Fax: <br />E-mail Address: <br />B. Local Government - <br />Name of Representative: <br />Title: <br />Mailing Address: <br />City, State and Zip Code: <br />Telephone Number: <br />Fax Number: <br />E-mail Address: <br />4. BUDGET <br />The Local Government will pass through to the Subrecipient no more than $_ _ in CDBG funds for <br />eligible incurred costs and expenses for the Project according to the following budget. <br />Project Budget Element <br />Indirect Cost Rate: _% Federally Approved Indirect Rate, or 10% de minimis <br />rate, or fill out "N/A" declining to charge indirect <br />Budgeted Amount <br />The Local Government may require a more detailed budget breakdown, and the Subrecipient will provide <br />such supplementary budget information in a timely fashion in the form and content prescribed by the Local <br />Government. <br />Indirect Cost Rate if the Subrecipient chooses to charge Indirect under this grant, the Subrecipient shall <br />provide their indirect cost rate that has been negotiated between their entity and the Federal Government. <br />If no such rate exists, a de minimis indirect cost rate of 10% of modified total direct costs (MTDC) will be <br />used. <br />"Mortified Total Direct Costs (MTDC)" shall mean all direct salaries and wages, applicable fringe benefits, <br />materials and supplies, services, travel, and up to the first $25,000 of each subaward (regardless of the <br />period of performance of the subawards under the award). MTDC excludes equipment, capital <br />expenditures, and rental costs. <br />Any amendments to this Agreement's Budget must first be determined by the Local Government as <br />consistent with its CDBG contract with Commerce and then approved in writing by the Local Government <br />and the Subrecipient. <br />.11 <br />