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circumstances such value should be shown in the definition for Ownership Value in Section 1.01 and not included in such Attachment III. Section 725 Project Completion Schedule. The Public Entity represents to the State Entity and the Commissioner that Attachment IV to this Agreement correctly and accurately delineates the projected schedule for the completion of the Project. Section 726 Third-Party Beneficiary. The State Program will benefit the State of Minnesota and the provisions and requirements contained herein are for the benefit of both the State Entity and the State of Minnesota. Therefore, the State of Minnesota, by and through its Commissioner, is and shall be a third-party beneficiary of this Agreement. Section 727 Public Entity Tasks. Any tasks that this Agreement imposes upon the Public Entity may be performed by such other entity as the Public Entity may select or designate, provided that the failure of such other entity to perform said tasks shall be deemed to be a failure to perform by the Public Entity. Section 728 State Entity and Commissioner Required Acts and Approvals. The State Entity and the Commissioner shall not (i) perform any act herein required or authorized by it in an unreasonable manner, (ii) unreasonably refuse to perform any act that it is required to perform hereunder, or (iii) unreasonably refuse to provide or withhold any approval that is required of it herein. Section 729 Applicability to Real Property and Facility. This Agreement applies to the Public Entity's interest in the Real Property and if a Facility exists to the Facility. The term "if applicable" appearing in conjunction with the term "Facility" is meant to indicate that this Agreement will apply to a Facility if one exists, and if no Facility exists then this Agreement will only apply to the Public Entity's interest in the Real Property. Section 730 Additional Requirements. The Public Entity and the State Entity agree to comply with the following additional requirements. In the event of any conflict or inconsistency between the following additional requirements and any other provisions or requirement contained in this Agreement, the following additional requirements contained in this Section shall control. The Grantee shall maintain adequate financial records consistent with generally accepted accounting principles. The Grantee shall furnish the Grantor with an independent audit covering each grant year in which grant disbursements or expenditures were made; and prepared in compliance with generally recognized audit standards. The audit shall include a schedule of revenue and expenditures for the Project. The audit must be submitted within 30 days after the completion of the audit, but not later than one year after the end of the audit period. Alternatively, the Grantee shall submit accounting system records that track the use of grant proceeds and all matching funds by eligible Project Costs for each year in which grant disbursement and expenditures were made. The records shall reflect both expenditures and revenues and shall be submitted after all grant proceeds and matching funds have been expended or at the Grantor's request. Generic GO Bond Proceeds 36 Grant Agreement for ProgramConstruction Grants < RDGP-09-0025-o-FY10> Ver — 8/20/08 (Gnrc GO GA-Prgrm Cnstrctn Grnt)