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<br />Generic GO Bond Proceeds 15 Ver – 10/26/2020 <br />Grant Agreement for Construction Grants <br /> <br />lessee or grantee who purchases the Public Entity’s ownership interest in the Real <br />Property/Facility Lease or easement. Provided, however, it may contain a provisions that <br />limits the construction of any new structures on the Real Property or modifications of any <br />existing structures on the Real Property without the written consent of Lessor/Grantor, <br />which will apply to any such successor lessee or grantee. <br /> <br />10. It must allow for a transfer thereof in the event that the lessee under the Real <br />Property/Lease or grantee under the easement makes the necessary determination to sell <br />its interest therein, and allow such interest to be transferred to the purchaser of such <br />interest. <br /> <br />11. It must contain a provision that prohibits and prevents the sale of the <br />underlying fee interest in the Real Property and, if applicable, Facility without first <br />obtaining the written consent of the Commissioner of MMB. <br /> <br />12. The Public Entity must be the lessee under the Real Property/Lease or grantee <br />under the easement. <br /> <br />B. The provisions contained in this Section are not intended to and shall not prevent <br />the Public Entity from including additional provisions in the Real Property/Facility Lease or <br />easement that are not inconsistent with or contrary to the requirements contained in this Section. <br /> <br />C. The expiration of the term of a Real Property/Facility Lease or easement shall not <br />be an event that requires the Public Entity to reimburse the State Entity for any portion of the <br />G.O. Grant, and upon such expiration the Public Entity’s ownership interest in the Real Property <br />and, if applicable, Facility shall no longer be subject to this Agreement. <br /> <br />D. The Public Entity shall fully and completely comply with all of the terms, conditions <br />and provisions contained in a Real Property/Facility Lease or easement, and shall obtain and <br />file, in the Office of the County Recorder or the Registrar of Titles, whichever is applicable, the <br />Real Property/Facility Lease or easement or a short form or memorandum thereof. <br /> <br />Section 2.07 Event(s) of Default. The following events shall, unless waived in writing by <br />the State Entity and the Commissioner of MMB, constitute an Event of Default under this Agreement <br />upon either the State Entity or the Commissioner of MMB giving the Public Entity 30 days written <br />notice of such event and the Public Entity’s failure to cure such event during such 30 day time period <br />for those Events of Default that can be cured within 30 days or within whatever time period is needed <br />to cure those Events of Default that cannot be cured within 30 days as long as the Public Entity is <br />using its best efforts to cure and is making reasonable progress in curing such Events of Default, <br />however, in no event shall the time period to cure any Event of Default exceed 6 months unless <br />otherwise consented to, in writing, by the State Entity and the Commissioner of MMB. <br /> <br />A. If any representation, covenant, or warranty made by the Public Entity in this <br />Agreement, in any Draw Requisition, in any other document furnished pursuant to this <br />Agreement, or in order to induce the State Entity to disburse any of the G.O. Grant, shall prove