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<br />". <br /> <br />T. It will furnish to the State Entity as soon as possible and in any event within 7 <br />calendar'days after the Public Entity has obtained knowledge of the occurrence of each <br />Event of Default, or each event which with the giving of notice or lapse of time or both <br />would constitute an Event of Default, a statement setting forth details of each Event of <br />DefaUlt, or event which with the giving of notice or upon the lapse of time or both would <br />constitute an Event of Default, and the action which the Public Entity proposes to take with <br />respect thereto. . <br /> <br />U. It shall furnish such sati~factory' evidence regarding the representations and <br />warranties described herein as may be required and requested in writing by either the State <br />Entity or the Commissioner of Finance. <br /> <br />Section 2.05 Event(s) ot Default. The following events shall, unless waived in writing <br />by both the State Entity and the Commissioner of Finance, constitute an .Event Qf Default under <br />this Agreement upon either the State Entity or the Commissioner of Finance giving the. Public <br />Entity 30 days written notice of such event, and Public Entity's failure to cure such event during <br />such 30 day time period for those Events of Default that can be cured within 30 days or within <br />whatever time period is needed to cure those Events of Default that cannot be cured within 30 <br />days as long as the Public Entity is using its best efforts to C"Qre and is making reasonable <br />progress in curing such Events of Default, however, in no event shall the time period to cure any <br />Event of Default exceed 6 months. Notwithstanding the foregoing, any of the following events <br />that cannot be cured shan, unless waived in writing by both the State Entity and the <br />Commissioner of Finance, . constitute. an Event of Default under this Agreement immediately <br />upon either the State Entity or the Commissioner of Finance giving the Public Entity written <br />notice of such event. <br /> <br />A. If any representation, covenant, or warranty made by the Public Entity herein, in <br />any Payment Request, or in any other document furnished purSUant to this Agreement, shall <br />prove to have been untrue or incorrect in any material respect or materially misleading as of <br />the time such representation, covenant, or warranty was made. <br /> <br />B. If the Public Entity fails to fully comply with any provision, term, condition, <br />covenant, or warranty contained in this Agreement, the Declaration, or any other document <br />referred to herein. <br /> <br />C. If the Public Entity fails to fully comply with any provision, term, condition, <br />covenant, or warranty contained in the G.O. Compliance Legislation or the <br />Commissioner's Order. <br /> <br />Section 2.06 Remedies. Upon the occurrence of an Event of Default and at any time <br />thereafter until such Event of Default is cured to the satisfacti~n of the State Entity, the State <br />Entity or the Commissioner of Finance may enforce any or all of the following remedies. <br /> <br />A. The State Entity may refrain from disbursing the Grant; provided, however, the <br />State Entity may make disbursements after the occurrence of an Event of Default without <br />thereby waiving its rights and remedies hereunder. <br /> <br />Generic GO Bond Proceeds <br />Grant Agreement for Construction Grants <br /> <br />8 <br />RDGP-07-00()4..0...FY07 <br /> <br />Ver-1212006 <br />(Gnrc GO GA-Cnstrcbi Gmt) <br />