2006-09-27 CC Packet - Laserfiche WebLink

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Q. The Project will be completed substantially in accordance with the Construction Contract Documents by the Completion Date, and will be situated entirely on the Real Property. R. It will require the Contractor or Contractors to comply with all rules, regulations, ordinances, and laws bearing on its conduct of work on the Project. S. It will not allow any lien or encumbrance that is prior and superior to the Declaration to be created on or imposed upon the Real Property, whether such lien or encumbrance is voluntary or involuntary and including but not limited to a mechanic's lien or a mortgage lien, without the prior written consent of both the State EntitY and the Commissioner of Finance. T. It will furnish to the State Entity as soon as possible and in any event within 7 calendar days after the Public Entity has obtained knowledge of the occurrence of each Event of Default, or each event which with the giving of notice or lapse of time or both would constitute an Event of Default, a statement setting forth details of each Event of Default, or event which with the giving of notice or upon the lapse of time or both would constitute an Event of Default, and the action which the Public Entity proposes to take with respect thereto. U. It shall fumish such satisfactory evidence regarding the representations and warranties described herein as may be required and requested in writing by either the State Entity or the Commissioner of Finance. . Section 2.05 Event(s) of Default.. The following events shall, unless waived in writing by both the State Entity and the Commissioner of Finance, constitute an Event of Default under this Agreement upon either the State Entity or the Commissioner of Finance giving the Public Entity 30 days written notice of such event, and Public Entity's failure to cure such event during such 30 day time period for those Events of Default that can be cured within 30 days or within whatever time period is needed to cure those Events of Default that cannot be cured within 30 days as long as the Public Entity is using its best efforts to cure and is making reasonable progress in curing such Events of Default, however, in no event shall the time period to cure any Event of Default exceed 6 months. Notwithstanding the foregoing, any of the following events that cannot be cured shall, unless waived in writing by both the State Entity and the Commissioner of Finance, constitute an Event of Default under this Agreement immediately upon either the State Entity or the Commissioner of Finance giving the Public Entity written notice of such event. A. If any representation; covenant, or warranty made by the Public Entity herein, in any Draw Requisition, or in any other document furnished pursuant to this Agreement, or in order to induce the State Entity to make any Advance, shall prove to have been untrue or incorrect in any material respect or materially misleading as of the time such representation, covenant, or warranty was made. B. If the Public Entity fails to fully comply with any provision, tenn, condition, covenant, or warranty contained in this Agreement, the Declaration, or any other document referred to herein. City of Centerville City Park 9/11/2006 9 ~1