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J. The contemplated use of the Real Property and, if applicable, Facility will not
<br />violate any applicable zoning or use statute, ordinance, building code, rule or regulation, or
<br />any covenant or agreement of record relating thereto.
<br />K. The Project will be completed in full compliance with all applicable laws,
<br />statutes, rules, ordinances, and regulations issued by any federal, state, or local political
<br />subdivisions having jurisdiction over the Project.
<br />L. All applicable licenses, permits and bonds required for the performance and
<br />completion of the Project have been, or will be, obtained.
<br />M. All applicable licenses, permits and bonds required for the operation of the Real
<br />Property and, if applicable, Facility in the manner specified in Section 2.04 have been, or
<br />will be, obtained.
<br />N. It will operate, maintain, and manage the Real Property and, if applicable,
<br />Facility or cause the Real Property and, if applicable, Facility, to be operated, maintained
<br />and managed in compliance with all applicable laws, statutes, rules, ordinances, and
<br />regulations issued by any federal, state, or local political subdivisions having jurisdiction
<br />over the Real Property and, if applicable, Facility.
<br />O. It will fully enforce the terms and conditions contained in any Use Contract.
<br />P. It has complied with the matching funds requirement, if any, contained in
<br />Section 7.23.
<br />Q. It will not, without the prior written consent of the State Entity and the
<br />Commissioner, allow any voluntary lien or encumbrance or involuntary lien or
<br />encumbrance that can be satisfied by the payment of monies and which is not being
<br />actively contested to be created or exist against the Public Entity's interest in the Real
<br />Property or, if applicable, Facility, or the Counterparty's interest in the Use Contract,
<br />whether such lien or encumbrance is superior or subordinate to the Declaration. Provided,
<br />however, the State Entity and the Commissioner will consent to any such lien or
<br />encumbrance that secures the repayment of a loan the repayment of which will not impair
<br />or burden the funds needed to operate the Real Property and, if applicable, Facility in the
<br />manner specified in Section 2.04, and for which the entire amount is used (i) to acquire
<br />additional real estate that is needed to so operate the Real Property and, if applicable,
<br />Facility in accordance with the requirements imposed under Section 2.04 and will be
<br />included in and as part of the Public Entity's interest in the Real Property and, if
<br />applicable, Facility, and/or (ii) to pay for capital improvements that are needed to so
<br />operate the Real Property and, if applicable, Facility in accordance with the requirements
<br />imposed under Section 2.04.
<br />R. It reasonably expects to possess the ownership interest in the Real Property and,
<br />if applicable, Facility described Section 2.02 for the entire Useful Life of the Real Estate
<br />and, if applicable, Facility, and it does not expect to sell such ownership interest.
<br />Generic GO Bond Proceeds 10 Ver-6/26/08
<br />Grant Agreement for Construction Grants (Gnrc GO GA-Cnstrctn Grnt)
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