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acceptable to the State Entity and the Commissioner, (ii) that is for a term that is equal to or greater than 125% of the Useful Life of the Real Estate and, if applicable, Facility, or for a term authorized by a Minnesota statute, rule or session law, and (iii) which cannot be modified, restated, amended, changed in any other way, or prematurely cancelled or terminated without the prior written consent of the State Entity and the Commissioner. [If the term of the easement is for a term authorized by a Minnesota statute, rule or session law, then insert the citation at this point Ownership Interest in, if applicable, the Facility. � Fee simple ownership of the Facility. � A Real Property/Facility Lease for the Facility that complies with all of the requirements contained in Section 2.06. [If the term of the Real Property/Facility Lease is for a term authorized by a Minnesota statute, rule or session law, then insert the citation at this point .] Section 2.03 Use of Grant Proceeds. The Public Entity shall use the Grant solely to reimburse itself for expenditures it has already made, or will make, in the performance of the following activities, and may not use the Grant for any other purpose. (Check all appropriate boxes.) � Acquisition of fee simple title to the Real Property. � Acquisition of a leasehold interest in the Real Property. � Acquisition of an easement for the Real Property. � Improvement of the Real Property. � Acquisition of fee simple title to the Facility. � Acquisition of a leasehold interest in the Facility. � ❑x � Construction of the Facility. Renovation of the Facility. Generic GO Bond Proceeds % Ver — 6/26/08 Grant Agreement for Construction Grants (Gnrc GO GA-Cnstrctn Grnt)