Resolution 24-125 - Laserfiche WebLink

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government auditing standards and in compliance with Subpart F (Audit Requirements) of Title 2 U.S. Code of Federal Regulations Part 200. (b) The Recipient must describe the Note as general obligation debt of the Recipient in its annual audited financial statements for the term of the Loan. Section 7.3 Annual Minority and Women Business Enterprise Report. If requested, the Recipient will submit to the Authority, within 20 days of the end of the annual reporting period, EPA Form 5700-52A to report on the award of prime contracts or subcontracts to any certified MihioritV and Women Business Enterprise (MBE/WBE) firms until the Project is complete. Section 7.4 General, The Recipient must submit the project prescribed by the Authority. Section 7.5 Inspections. The Recipient, upon reasonab!6 1 Authority and its agents to inspect the Project. ARTICLE 8 — GOVERNMENT DA The Recipient agrees, with respect to any data that it posses: of the provisions and restrictions contained rlttlt'e Minnesota Statutes, Chapter 13, that exist as of tl"e date of t(iis Agri amended, modified or replaced from time'tcme. Section 9.1. (a) The Recipient does z note, frog the Authi prfvrde a written plan planfotqure, the Reci 9 - DEFAUL by the Authority on forms by the Authority, must allow the ing the Project, to comply with all vnt Data Practices Act, Minnesota as such may subsequently be It. AnyO,the following lan event of default under this Agreement: of com)�with any other`rflvision of this Agreement or the Note after written ' y, and i*r aa,three-month period the Recipient does not cure that default or Ge table to this Authority providing for that cure or, if the Authority accepts a ..'nt dps not cu� fhat default within the time period specified therein. Section 9 Remedies. (a) If an Vent of default described in Section 9.1(a) of this Agreement occurs, the Authority WHI Impose an rnfOrost penalty as provided in Minn. Rules Part 7830.0296, Subpart 1. The Authority mane or more of the following remedies: (1) withhold approval of any disbursement requesfi, (}reject any pending application by the Recipient for financial assistance, (3) to the extent permitted bj:law, demand immediate payment of the Loan and the Note in full and, upon such demand, the outstanding principal amount of the Loan and Note will be immediately due and payable, with interest accrued thereon to the date of payment, or (4) exercise any other remedy available to the Authority at law or in equity, including under Minnesota Rules, Chapter 7380, as amended. (b) If an event of default described in Section 9.1(b) of this Agreement occurs, the Authority will impose an immediate. increase in the interest rate on the Loan by eliminating all interest rate discounts that Lino Lakes_DWRF_01 Page 10 of 12 A-11