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<br />Generic GO Bond Proceeds 30 Ver – 10/26/2020
<br />Grant Agreement for Construction Grants
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<br />Section 7.02 Condemnation. If after the Public Entity has acquired the ownership interest
<br />delineated in Section 2.02 all or any portion of the Real Property and, if applicable, Facility is
<br />condemned to an extent that the Public Entity can no longer comply with the provisions contained in
<br />Section 2.04, then the Public Entity shall, at its sole option and discretion, either: (i) use or cause the
<br />condemnation proceeds to be used to acquire an interest in additional real property needed for the
<br />Public Entity to continue to comply with the provisions contained in Section 2.04 and, if applicable,
<br />to fully or partially restore the Facility and to provide or cause to be provided whatever additional
<br />funds that may be needed for such purposes, or (ii) sell the remaining portion of its ownership interest
<br />in the Real Property and, if applicable, Facility in accordance with the provisions contained in Section
<br />4.01. Any condemnation proceeds which are not used to acquire an interest in additional real property
<br />or to restore, if applicable, the Facility shall be applied in accordance with the provisions contained
<br />in Section 4.02 as if the Public Entity’s ownership interest in the Real Property and, if applicable,
<br />Facility had been sold, and such amounts shall be credited against the amounts due and owing under
<br />Section 4.02 upon the ultimate sale of the Public Entity’s ownership interest in the remaining Real
<br />Property and, if applicable, Facility. If the Public Entity elects to sell its ownership interest in the
<br />portion of the Real Property and, if applicable, Facility that remains after the condemnation, then such
<br />sale must occur within a reasonable time period from the date the condemnation occurred and the
<br />cumulative sum of the condemnation proceeds plus the proceeds of such sale must be applied in
<br />accordance with the provisions contained in Section 4.02, with the condemnation proceeds being so
<br />applied within a reasonable time period from the date they are received by the Public Entity.
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<br />As recipient of any of condemnation awards or proceeds referred to herein, the State Entity
<br />agrees to and will disclaim, assign or pay over to the Public Entity all of such condemnation awards
<br />or proceeds it receives so that the Public Entity can comply with the requirements that this Section
<br />imposes upon the Public Entity as to the use of such condemnation awards or proceeds.
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<br />Section 7.03 Use, Maintenance, Repair and Alterations. The Public Entity shall (i) keep
<br />the Real Property and, if applicable, Facility, in good condition and repair, subject to reasonable and
<br />ordinary wear and tear, (ii) complete promptly and in good and workmanlike manner any building or
<br />other improvement which may be constructed on the Real Property and promptly restore in like
<br />manner any portion of the Facility, if applicable, which may be damaged or destroyed thereon and
<br />pay when due all claims for labor performed and materials furnished therefor, (iii) comply with all
<br />laws, ordinances, regulations, requirements, covenants, conditions and restrictions now or hereafter
<br />affecting the Real Property or, if applicable, Facility, or any part thereof, or requiring any alterations
<br />or improvements thereto, (iv) keep and maintain abutting grounds, sidewalks, roads, parking and
<br />landscape areas in good and neat order and repair, (v) comply with the provisions of any Real
<br />Property/Facility Lease if the Public Entity’s ownership interest in the Real Property and, if
<br />applicable, Facility, is a leasehold interest, (vi) comply with the provisions of any easement if its
<br />ownership interest in the Real Property and, if applicable, Facility is by way of such easement, and
<br />(vii) comply with the provisions of any condominium documents and any applicable reciprocal
<br />easement or operating agreements if the Real Property and, if applicable, Facility, is part of a
<br />condominium regime or is subject to a reciprocal easement or use contract.
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