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40 <br />ob <br />• <br />2. Any transfer of the Project Site shall be subject to the <br />approval. of FCT and FCT shall enter into a new agreement with the <br />transferee, containing such covenants, clauses, or other <br />restrictions as are sufficient to protect the interest of the <br />people of Florida. <br />3. The interest, if any, acquired by the FCT Recipient in <br />the Project site will not serve as security for any debt of the <br />FCT Recipient unless FCT approves the transaction. <br />4. If the existence of the FCT Recipient terminates for any <br />reason, title to all interest in real property it has acquired <br />with the FCT award shall be conveyed to the Board of Trustees of <br />the Internal Improvement 'Trust Fund, unless FCT negotiates an <br />agreement with another local government or nonprofit organization <br />which agrees to accept title to all interest in and to manage the <br />Project site. <br />5. In the event that the Project Site is damaged or <br />destroyed or title to the Project Site, or any part thereof, is <br />taken by any governmental body through the exercise or the threat <br />of the exercise of the power of eminent domain, the FCT Recipient <br />shall deposit with the FCT any insurance proceeds or any <br />condemnation award, and shall promptly commence to rebuild, <br />replace, repair or restore the Project Site in such manner as is <br />consistent with the Agreement. The FCT shall make any such <br />insurance proceeds or condemnation award moneys available to <br />provide funds for such restoration work.. In the event that the <br />FCT Recipient fails to commence or to complete the rebuilding, <br />repair, replacement or restoration of the Project Site after <br />notice from the FCT, the FCT shall have the right, in addition to <br />any other remedies at law or in equity, to repair, restore. <br />rebuild or replace the Project Site so as to prevent the <br />occurrence of a default hereunder. <br />Notwithstanding any of the foregoing, FCT will have the right <br />to seek specific performance of any of the covenants and <br />restrictions of this Agreement concerning the construction and <br />operation of the Project Site. <br />III. PROJECT SITE OBLIGATIONS IMPOSED BY FCT ON THE FCT <br />RECIPIENT. <br />1. The Project Site <br />conservation, protection <br />historical resources and <br />public outdoor recreation <br />conservation, protection <br />along with other related <br />GAA/98-058-PBA <br />01/31/01 <br />shall be managed only for the <br />and enhancement of natural and <br />for passive, natural resource --based <br />which is compatible with the <br />and enhancement of the Project Site, <br />uses necessary for the accomplishment of <br />