Res_11365 - Laserfiche WebLink

Home

Item 8h: Attachment B. If the Public Entity fails to fully comply witb any provision, term, condition, covenant, or �varranty contained in this Aareement, the Declaration, or any other document referred to herein. C. If the Public Entity fails to fully comply with any provision, term, condition, covenant, or warranty contained in the G.O. Compliance Le�islation, the Commissioner's Order, or the State Program Enablinb Le�islation. D. If the Public Entity fails to provide and expend the full amount of the matchin� funds, if any, required under Section 7.23 for the Project. E. If the Public Entity fails to record the Declaration and deliver copies thereof as set forth in Section 2.O�.U. Notwithstandin� the fore�oinj, any of the above delineated events that cannot be cured sha11, unless wai�ed in �vriting by the State Entiry and the Commissioner of MMB, constitute an Event of Defauit under this A�reement immediately upon either the State Entity or the Commissioner of �IVIB givin� the Public Entity �vritten notice of such event. Section 2.08 Remedies. Upon the occurrence of an Event of Default and at any time thereafter until such Event of Default is cured to the satisfaction of the State Entity, the State Entity or the Commissioner of MMB may enforce any or all of the followin� remedies. A. The State Entity may refrain from disbursin� the Pro�-am Grant; provided, ho�� zver, the StaTe Entiry may make such disburs�ments after the occun-ence of an Event of Default �,vithout thereby wai�-ina its ri�hts and remedies hereunder. B. If the Event of Default involves a failure to comply ��-ith any of the provisions contained herein other than the provisions contained in Sections 4.01 or 4.02, then the Commissioner of MMB, as a third party beneficiary of this A�reement, may demand that the Outstanding Balance of the Proaram Grant be returned to it, and upon such demand the Public Entity shall return such amount to the Commissioner of NIVIB. C, If the Event of Default involves a failure to comply with the provisions contained in Sections 4.01 or 4.02, then the Commissioner of MMB, as a third party beneficiary of this A�reement, may demand that the Public Entity pay the amounts that would have been paid if there had been full and complete compliance �vith such provisions, and upon such demand the Public Entity shall pay such amount to the Commissioner of NIVIB. D. Either the State Entity or the Commissioner of NIVIB, as a third party beneticiary of this Agreement, may enforce any additional remedies they may have in law or equity. The ri�hts and remedies herein specified are cumulative and not exclusive of any rights or remedies that the State Entity or the Commissioner of MMB would otherwise possess. Generic GO Bond Proceeds 14 Ver— 6/30/ I� Grant Agreement for Pro�ram End Grants �