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<br />Hastings 2005 SUbrecipient Agreement <br /> <br />Page 7 of 11 <br /> <br />percent of its activity budget( s) by the end of the second <br />quarter (December 31); no less than 45 percent of its activity <br />budget(s) by the end of the third quarter (March 31); and no <br />less than 70 percent of its activity budget( s) by the end of the <br />fourth quarter (June 30). <br /> <br />2. For FY04 balances identified in Section VI of this Agreement, <br />the Subrecipient should expend no less than 85 percent of its <br />activity budget(s) by the end of the second quarter (December <br />31); and no less than 95 percent of its activity budget(s) by the <br />end of the fourth quarter (June 30). <br /> <br />3. For FY03 and earlier balances identified in Section VI of this <br />Agreement, the Subrecipient should expend no less than 100 <br />percent of its activity budget(s) by the end of the second <br />quarter (December 31). <br /> <br />B. <br /> <br />Independent Contractor. For the purpose of this Agreement, the <br />Subrecipient shall be deemed an independent contractor, and not an <br />employee of the Grantee. Any and all employees of the Subrecipient or <br />other persons, while engaged in the performance of any work or <br />services required by the Subrecipient under this Agreement, shall not <br />be considered employees ~f the Grantee; and any and all claims that <br />mayor might arise on behalf of said employees or other persons as a <br />consequence of any act "or' omission on the part of said employee or the <br />Sub recipient shall in no.way be the obligation or responsibility of the <br />Grantee. ,,; <br /> <br />! <br /> <br />C. Hold Harmless. It is further agreed that the Subrecipient shall defend <br />and save the Grantee harmless from any claims, demands, actions, or <br />causes of action arising put of any act or omission on the part of the <br />Subrecipient, its agents, servants, or employees in performance of, or <br />with. relation to, any of the work or services performed or furnished by <br />the Subrecipient under the terms of the Agreement. It is further agreed <br />that the Sub recipient shall notify the Grantee of any actual or potential <br />claims against the Grantee that may arise as a consequence of any of <br />the work or services performed or furnished by the Subrecipient under <br />the terms of this Agreement. <br /> <br />D. Transfer. The Subrecipient shalt not assign any interest in this <br />Agreement and shall not transfer any interest in the same, whether by <br />assignment or subcontract, without .the prior written consent of the <br />Grantee. <br /> <br />E. Amendments. Any alteration, variation, modification, or waiver of the <br />provision of this Agreement shall be valid only after it has been reduced to <br />writing and duly signed by both parties, with the exception of <br />Administrative Amendments defined as any revision to the original annual <br />budget that <br />