Limitations. The amount of a grant may not: Exceed 50 percent of the total cost of the proposed activity, as evidenced by contractor bids, proposals, or other good faith estimates or budgets provided by the applicant; or Fall outside the minimum or maximum grant amounts established by the Authority. Matching Requirements. A grantee shall make a matching contribution to an activity funded by a grant: In an amount not less than the amount of the grant; That consists of either cash, an equivalent dollar value of in-kind contributions, or a combination thereof; and That is from sources and is in substance, form, and amount acceptable to the Authority. Grant Agreement. No funds shall be disbursed from the Fund to a grantee unless the grantee has first executed a grant agreement in form and substance acceptable to the Authority. A grant agreement shall establish all terms and conditions of the grant, including: The amount of the grant; The matching contribution requirements; A scope of work for the activity funded by the grant; A budget for the activity funded by the grant; A grant disbursement schedule; Special conditions on grant disbursement as may be required by the Authority; A project timeline and deadlines for expenditures of grant funds; Insurance requirements, as may be applicable; Historic preservation requirements, as may be applicable; Reporting requirements; Defaults and remedies; and Other terms and conditions as may be required by the Authority. For a capital project funded by a grant that will affect property that is listed or eligible for listing on the Maryland Register of Historic Properties, the grant agreement shall provide that: The plans and specifications for the project must be reviewed and approved by the Trust prior to the grantee undertaking any work specified in the grant agreement; All aspects of the project must conform to historic preservation standards established or applied by the Trust, including, but not limited to, the Secretary of the Interior’s Standards for Treatment of Historic Properties; The grantee must permit staff from the Trust to inspect ongoing construction to ensure that the grantee is undertaking the project in conformance with the applicable historic preservations standards and requirements; and If required by the Trust, the grantee shall: Convey or cause to be conveyed to the Trust for recording in the applicable land records a deed of easement, in form, substance, and duration satisfactory to the Director of the Trust, for preservation of the historic real property and the improvements and the settings thereon affected by the project; or Enter into an agreement with the Trust, or cause an agreement with the Trust, that obligates preservation and maintenance of the historic property affected by the project, in form, substance, and duration satisfactory to the Director of the Trust.