Section 5.08 - Grant Contract(1) All Applicants selected to receive a grant must execute contracts with the Commission, as required by 815 CMR 2.05: Contractual Requirementsfor Grants and Grant Payments, in order to receive payment.(2) The Executive Director shall develop and execute grant contracts consistent with 958 CMR 5.08.(3) The grant contract shall specify, as applicable:(a) any financial, programmatic, technical or other reporting appropriate to monitor and evaluate the funded activities, including ongoing milestones, an annual progress review as applicable for multi-year grants, and an evaluation process;(b) any conditions or restrictions on the funding, including any monitoring of the grantee's operations, including where appropriate, an independent financial and operational audit to recommend steps to increase sustainability and efficiency of the hospital;(c) any additional means the Commission will use to hold the grantee accountable for proper performance under the grant;(d) a limit on the amount each hospital may spend on administrative or overhead spending related to the approved project;(e) any deadlines for completing components of the project; and(f) provisions for repayment of all or a portion of funds to the Commission if the Commission determines that the funds were not used consistent with the approved grant application and contract.(4) Pursuant to a recommendation by the Executive Director, the Commission may terminate a grant if the grantee does not comply with the terms of the grant contract, if during the contract term the grantee is determined by the Commission to be no longer qualified, if the grantee does not expend grant funds within a reasonable period of time, or if the grantee fails to meet reporting requirements or milestones established pursuant to 958 CMR 5.08(3)(a).