MEMORANDUM OF UNDERSTANDING BY AND BETWEEN HARRISBURG SCHOOL DISTRICT ‘AND. HARRISBURG UNIVERSITY OF SCIENCE AND TECHNOLOGY ‘This Memorandum of Understanding is writen to set forth the understanding between Harisburg School District ‘Distt’ and Harrisburg University of Science and Technology (CHUST") relative to the provision ofcerttin services by the Distct to HUST. It is understood and agreed toby the partes hereto tha the District will provide certain assistance to HUST including, but not limited to: (1) the planning, staffing and constuction ofthe University facilites; 2) technical assistance related thereto; (3) academic suppor; (4) fandrising and grant counseling; and (S) such other assistance as agreed to by the partis hereto. The District acknowledges that HUST is a start-up organization and, hence, agres tothe deferral of payment for such services. Accordingly, the parties hereto agree that in consideration forthe provision of services identified herein, HUST shall pay to the District the sum of Two Million Nine Hundred ‘Thousand Dollars ($2,900,000 in ten equal yearly installments of Two Hundred Ninety ‘Thousand dollars ($290,000.00) plus interest commencing atthe time ofthe first payment at 2 rate of seven and one-quarter percent (7.25%) per annum on the entire Two Millio Nine ‘Hundred Thousand Dollars ($2,900,000) commencing on November 1, 2016 and concluding on October 31,2025. ‘This Memorandum of Understanding has been approved bythe Board of Control ofthe Harrisburg School District and by the Board ofthe Harrisburg Universit of Science and ‘Technology and shall be binding upon the partes hereto. Sign sealed and delivered this_18™*ay of October, 2004, ATTEST: HARRISBURG SCHOOL DISTRICT _X ARVO fe. \C) Julie Anne Mackey, Secrptary HARRISBURG UNIVERSITY OF SCIENCE AND TECHNOLOGY By DNR Law ‘Melv , Schiveli, Presideverso § $ esuayor —§ ISeap'tEr $ eWeos'79z © $ ‘HOaLDSOLaaLYIOTIV SDNYNSSI40 1509 ‘600.00 wose9 wevee Kev anssi40% ooroon'esv'ez $ oo‘on0'osz'e $ coDOD'OOS'2 $ s0;D0D'OON'DT $ oO-00'000's $ —HOBLIDSOL NOLNOS xo90 w8t ses anssi 40 % sv 1s09 Gezee'se $ 38sav'zVE §—$ TETSS'ZHO'y $ —_SDNVMSSI401509 ‘r000'ase’e $ o0'000'000'r $ s0'000'C00'r $ voDOO'DOO'LL $ ANnoW spiua 3SvHOuNd GNNATWINID —-BOOZSAIIS —9OOLSANIS Oe SaIHaS spunos zro/t/s XX ONONYNEE HOBLDScorms seem crower ease exoevses $ comer 5 srevie 5 worms roupson onoavoseue $ onowvvsee $ wooostese § Toaveavar $ rows § roupsotnousos