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Generic GO Bond Proceeds Contract # 242255 / PO # 3-246339
<br /> Ver – 10/26/20
<br />Grant Agreement for Program Construction Grants
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<br />N. It will operate, maintain, and manage the Real Property and, if applicable, Facility
<br />or cause the Real Property and, if applicable, Facility, to be operated, maintained and
<br />managed in compliance with all applicable laws, statutes, rules, ordinances, and regulations
<br />issued by any federal, state, or local political subdivisions having jurisdiction over the Real
<br />Property and, if applicable, Facility.
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<br />O. It will fully enforce the terms and conditions contained in any Use Contract.
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<br />P. It has complied with the matching funds requirement, if any, contained in Section
<br />7.23.
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<br />Q. It will not, without the prior written consent of the State Entity and the
<br />Commissioner of MMB, allow any voluntary lien or encumbrance or involuntary lien or
<br />encumbrance that can be satisfied by the payment of monies and which is not being actively
<br />contested to be created or exist against the Public Entity’s ownership interest in the Real
<br />Property or, if applicable, Facility, or the Counterparty’s interest in the Use Contract,
<br />whether such lien or encumbrance is superior or subordinate to the Declaration. Provided,
<br />however, the State Entity and the Commissioner of MMB will consent to any such lien or
<br />encumbrance that secures the repayment of a loan the repayment of which will not impair or
<br />burden the funds needed to operate the Real Property and, if applicable, Facility in the
<br />manner specified in Section 2.04, and for which the entire amount is used (i) to acquire
<br />additional real estate that is needed to so operate the Real Property and, if applicable, Facility
<br />in accordance with the requirements imposed under Section 2.04 and will be included in and
<br />as part of the Public Entity’s ownership interest in the Real Property and, if applicable,
<br />Facility, and/or (ii) to pay for capital improvements that are needed to so operate the Real
<br />Property and, if applicable, Facility in accordance with the requirements imposed under
<br />Section 2.04.
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<br />R. It reasonably expects to possess the ownership interest in the Real Property and,
<br />if applicable, Facility described Section 2.02 for the entire Useful Life of the Real Property
<br />and, if applicable, Facility, and it does not expect to sell such ownership interest.
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<br />S. It does not reasonably expect to receive payments under a Use Contract in excess
<br />of the amount the Public Entity needs and is authorized to use to pay the operating expenses
<br />of the portion of the Real Property and, if applicable, Facility that is the subject of the Use
<br />Contract or to pay the principal, interest, redemption premiums, and other expenses on any
<br />Approved Debt.
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<br />T. It will supply, or cause to be supplied, whatever funds are needed above and
<br />beyond the amount of the Program Grant to complete and fully pay for the Project.
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<br />U. The Construction Items will be completed substantially in accordance with the
<br />Construction Contract Documents by the Completion Date, and all such items along with, if
<br />applicable, the Facility will be situated entirely on the Real Property.
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<br />DocuSign Envelope ID: 29DBC2D4-A2F2-444E-B71D-02719EA430EB
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