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05-14-2025 Council Packet
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05-14-2025 Council Packet
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7 <br /> <br />America or any State, and such order, judgment, or decree will not be vacated or set aside <br />or stayed within sixty (60) days from the date of entry of such order, judgment, or decree. <br /> <br />C. If, without the written consent of Authority, Grantee’s interest in the Project or this <br />Agreement is sold, assigned, transferred, or otherwise conveyed, whether voluntary, <br />involuntary or by operation of the law. <br /> <br />D. Grantee uses any portion of the Funds for purposes other than specified in this Agrement. <br />. <br />E. Grantee fails to comply with any of the terms, conditions, requirements, representations, <br />warranties or provisions contained in its Application, this Agreement, the Declaration of <br />Restrictive Covenants, or any other Authority document. <br /> <br />F. Any of the information, documentation or representations that Grantee supplied to <br />Authority in its Application, this Agreement or any other Authority document to induce <br />Authority to make the Grant is determined to be false, untrue, or misleading in any material <br />manner. <br /> <br /> Section 4.02 Remedies. Upon the occurrence of an Event of Default, Authority may <br />immediately, without notice to Grantee, suspend its performance under this Agreement. After <br />providing thirty (30) days written notice to Grantee of an Event of Default, but only if the alleged <br />Event of Default has not been fully cured within said thirty (30) days by Grantee, Authority may: <br />(a) refrain from disbursing any further Funds; (b) demand that any amount of Funds already <br />disbursed to Grantee be immediately returned to Authority, and upon such demand, Grantee shall <br />immediately return such proceeds to Authority; (c) take any action provided for in law to enforce <br />compliance by Grantee with the terms of this Agreement or the Declaration of Restrictive <br />Covenants; (d) terminate this Agreement by written notice; and (e) pursue whatever action, <br />including legal, equitable or administrative action, which may appear necessary or desirable to <br />collect all costs (including reasonable attorneys’ fees) and any amounts due under this Agreement <br />or to enforce the performance and observance of any obligation, agreement, or covenant hereof. <br /> <br /> Section 4.03 Authority’s Costs of Enforcement of Agreement. If an Event of Default has <br />occurred as provided herein, then upon demand by Authority, Grantee shall pay or reimburse <br />Authority for all expenses, including all attorneys’ fees and expenses incurred by Authority in <br />connection with the enforcement of this Agreement, or in connection with the protection or <br />enforcement of the interests of Authority in any litigation or in any action or proceeding relating <br />in any way to the transactions contemplated by this Agreement. <br /> <br /> Section 4.04 No Remedy Exclusive. No remedy herein conferred upon or reserved to <br />Authority is intended to be exclusive of any other available remedy or remedies, but each and <br />every such remedy shall be cumulative and shall be in addition to every other remedy given under <br />this Agreement or now or hereafter existing at law or in equity or by statute. No delay or omission <br />to exercise any right or power accruing upon any Event of Default shall impair any such right or <br />power or shall be construed to be a waiver thereof, but any such right and power may be exercised <br />from time to time and as often as may be deemed expedient. In order to entitle Authority to
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