(A) After receiving notification of approval of a grant proposal, the board and the nurse education program submitting the proposal shall execute a written agreement that contains the terms and conditions of the grant.
(B) This agreement, or acknowledgment of terms, shall be signed by the administrator of the nurse education program, or grantee, and by the board. The agreement may include but need not be limited to the following terms and conditions:
(1) Method for advising the board regarding a change of circumstances that may significantly impact the grantee's ability to comply with the terms of the grant;
(2) Method and schedule for disbursement of funds;
(3) Special reporting requirements specific to an individual grant proposal;
(4) Applicability of all relevant laws, regulations, and rulings; and
(5) Grantee indemnification requirements.