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Item 8h: Attachment <br />Section 3.0'� Receipt of i��Ionies Under a Use Contract. The Public Entity does not <br />anticipate the receipt of any funds under a Use Contract, provided, ho�vever, if the Public Entiry <br />does receive any monies under a Use Contract in excess of the amount the Public Entity needs <br />and is authorized to use to pay the operatin� expenses of the portion of the Real Property and, iF <br />applicable, Facility that is the subject of a Use Contract, and to pay the principal, interest, <br />redemption premiums, and other expenses on Approved Debt, then a portion of such excess <br />monies must be paid by the Public Entity to the Commissioner of M�IB. The portion of such <br />excess monies that the Public Entity must and shall pay to the Commissioner of MMB shall b� <br />deteimined by the Commissioner of MMB, and absent circumstances which. would indicate <br />otherwise such portion shall be determined by multiplying such eYcess monies by a fraction the <br />numerator of which is the Pro�ram Grant and the denominator of �vhicli is sum oF the Pro�,ram <br />Grant and the Approved Debt. <br />�rticle IV <br />SALE <br />Section 4.01 Sale. The Public Entity shall not sell any part of it� ownership intzrest in <br />the Real Property and, if applicable, Facility unless all of the followin<� provisions have been <br />complied ���ith fully. <br />A. The Pubiic Entity deterznines, by ofticial action, that such ownership interest is <br />no lon�er usable or needed for the operation of the State Pro�ram, �vhich such <br />determination may be based on a detzimination that the portion of the Real Property or, if <br />applicable, Faciliry to which such o�� nership interest applies is no lonser suitable or <br />financially feasible for such purpose. `" <br />B. The sale is made as authorizetl bv la���. <br />C. The sale is for Fair 1�'Iarket Value. <br />D. The written consent of the Commissioner of M�IB has betn obtainzd. <br />The acquisition of the Public Entity's o�vnership interest in the Real Property and, if <br />applicable, Facility at a foreclosure sale, by acceptance of a deed-in-lieu of foreclosure, or <br />enforcement of a security interest in personal property used in the operation thereof, by a lender <br />that has provided monies for the acquisition of the Public Entity's o���nership interest in or <br />betterment of the Real Property and, if applicab(e, Facility shall not be considered a sale for the <br />purposes of this A�reement if after such acquisition the lender operates such portion of the Resl <br />Property and, if applicable, Facility in a manner which is not inconsistent �vith the requirements <br />imposed under Section 2.04 and the lender uses its best efforts to sell such acquired interest to a <br />third party for Fair Market Value. The lender's ultimate sale or disposition of the acquired <br />interest in the Real Property and, if applicable, Faciliry sha11 be deemed to be a sale for the <br />purposes of this Agreement, and the proceeds thereof shall be disbursed in accordance �vith the <br />provisions contained in Section �.02. <br />Generic GO Bond Proceeds 19 <br />Grant A�reement for Pr��aram End Gran[s <br />Ver — 6i30;� I � <br />