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40 the event the project has not been completed in full by August 30, 2000, the Conceptual Approval Agreement must be extended in order that the grant will remain in effect. In advance of the August 30, 2000, date and in sufficient time before a meeting of the FCT Governing Body that would allow approval of an extension to this Agreement before its expiration, the Recipient must request a written extension to the Conceptual Approval Agreement for project continuation in compliance with Rule 9K4.010(2)0), F.A.C. If the Recipient does not request an extension, or if an extension is not granted to the Recipient by the FCT Governing Body, the Preservation 2000 award granted to the Recipient by the Governing Body shall terminate and all obligations hereunder shall cease. Based upon the Florida Legislature's ongoing oversight of the rate of expenditure of funds, and the impact on future funding if expenditures do not timely occur, the FCT requires that the project be completed as soon as possible after project selection. ++ 4. Extensions to this Agreement, described in paragraph 3 above, shall not exceed 24 I months from the date the Agreement was approved by the FCT, except as described in this paragraph. In compliance with Section 380.510(f), F.S., if the project is not concluded by November 30, 2001 the project shall only be extended if the FCT Governing Body determines that a request for additional time to complete the project is warranted based upon Recipient's demonstration that significant progress is being made toward closing the project or that + extenuating circumstances warrant an extension of time. 5. This Agreement may be terminated before its expiration at the written request of the Recipient. Such a request shall fully describe the circumstances that compel the Recipient to terminate the project. A request for termination should be mailed to the offices of the FCT at the address given in paragraph 1 above. The request for termination will be placed on the agenda of the next regularly scheduled meeting of the FCT Governing Body for concurrence by the FCT. The termination shall be acknowledged by the FCT in a letter to the Recipient. Circumstances may arise that, in the analysis of the FCT, warrant termination of the project before its completion. In such an event, the FCT will advise the Recipient of its analysis and will confer with the Recipient on continuation of the project. If the Recipient concurs, a request for termination will be considered at the next regularly scheduled meeting of the FCT Governing Body. 6. Recipient agrees to make diligent efforts to submit the documentation to FCT that is required in this Agreement as soon as is reasonably possible so that the project site may be acquired in an expeditious manner. Deadlines stated in this Agreement, as well as deadlines associated with any FCT activity relating to the project, are strictly enforced. Failure to adhere to deadlines, whether stated in this Agreement or associated with meetings of the FCT Governing Body, may result in delays in the project, may result in allocation of time or resources to other Contingent/Joint Acquisition/99-074-PM 11/30/1999 FINAL