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40 <br />0 <br />24. DEFAULT; REMEDIESI TERMINATION <br />a. If any of the following events occur ("Events of <br />Default"), all obligations on the part of the Grantee to make any <br />further payment of funds hereunder shall, if the Grantee so <br />elects, terminate, and the Grantee may at its option exercise any <br />of its remedies set forth herein, but the Grantee may make any <br />payments or parts of payments after the happening of any Events <br />of Default without thereby waiving the right to exercise such <br />remedies, and without becoming liable to make any further <br />payments <br />1. If any warranty or representation made by the <br />Subgrantee in this Agreement or any previous Agreement with the <br />Grantee shall at any time be false or misleading in any respect, <br />or if the Subgrantee shall fail to keep, observe or perform any <br />of the terms or covenants contained in this Agreement or any <br />previous agreement with the Grantee and has not cured such in <br />timely fashion, or is unable or unwilling to meet its obligations <br />thereunder; <br />2. If any material adverse change shall occur in <br />the financial condition of the Subgrantee at any time during the <br />term of this Agreement from the financial condition revealed in <br />any reports filed or to be filed with the Grantee, and the <br />Subgrantee fails to cure said material adverse change within <br />thirty (30) days from the time the date written notice is sent by <br />the Grantee; <br />Page 20 <br />3. If any reports required by this Agreement have <br />FERIA -1300 -ISR -FL <br />