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40 i regulations, including zoning ordinances and the applicable adopted and approved comprehensive plan. Evidence shall be provided to FCT that all required licenses and permits have been obtained prior to the commencement of any construction. 3. The Recipient shall, through its agents and employees, prevent the unauthorized use of the project site or any use thereof not in conformity with the management plan approved by the FCT as a part of the project plan. 4. FCT staff or its duly authorized representatives shall have the right at any time to inspect the project site and the operations of the Recipient at the project site. 5. All buildings, structures, improvements, and signs shall require the prior written approval of FCT as to purpose. Further, tree removal, other than non-native species, and major land alterations shall require the written approval of FCT. The approvals required from FCT shall not be unreasonably withheld by FCT upon sufficient demonstration that the proposed structures, buildings, improvements, signs, vegetation removal or land alterations will not adversely impact the natural resources of the project site. The approval by FCT of the Recipient's management plan addressing the items mentioned herein shall be considered written approval from FCT. VI. OBLIGATIONS OF THE RECIPIENT RELATING TO THE USE OF BOND PROCEEDS 1. FCT is authorized by Sections 375.045(4) and 380.510(7)(a) and (b), F.S., to impose conditions for funding on Recipient in order to ensure that the project complies with the requirements for the use of Preservation 2000 Bond proceeds including without limitation the provisions of the Internal Revenue Code and the regulations promulgated thereunder as the same pertain to tax exempt bonds. 2. If the project site is to remain subject, after its acquisition by the Recipient and/or the Trustees, to any of the below listed transactions, events, and circumstances, the Recipient shall provide at least 60 days advance written notice of any such transactions, events, and circumstances to FCT, and shall provide to FCT such information with respect thereto as FCT reasonably requests in order to evaluate the legal and tax consequences of such activity or interest. Recipient agrees and acknowledges that the following transactions, events, and circumstances may be disallowed on the project site as they may have negative legal and tax consequences under Florida law and federal income tax law. The Recipient further agrees and acknowledges that the following transactions, events, and circumstances may be allowed up to a certain extent based on guidelines or tests outlined in the Federal Private Activity regulations of the Internal Revenue Service: a. any sale or lease of any interest in the project site to any person or organization; Funded/Joint Acquisition/99-055-P9A 11/30/1999 FINAL 11