Laserfiche WebLink
BK : 2272 PG : 1042 <br /> e. any change in the character or use of the Project Site from that use <br /> expected at the date of the issuance of any series of Bonds from which the <br /> disbursement is to be made; <br /> f. a management contract for the Project Site with a non-governmental person or <br /> organizations or <br /> ge such other activity or interest as may be specified from time to time in writing <br /> by FCT to the Recipient. <br /> 3 . If the Project Site, after its acquisition by the Recipient and/or the Trustees, is to <br /> remain subject to any of the disallowable activities, the Recipient shall provide notice to FCT, as <br /> provided for in paragraph III. I . above, at least sixty (60) calendar days in advance of any such <br /> transactions, events or circumstances, and shall provide FCT such information as FCT reasonably <br /> requests in order to evaluate for approval the legal and tax consequences of such disallowable <br /> activities. <br /> 4. In the event that FCT determines at any time that the Recipient is engaging, or <br /> allowing others to engage, in disallowable activities on the Project Site, the Recipient shall <br /> immediately cease or cause the cessation of the disallowable activities upon receipt of written notice <br /> from FCT. In addition to all other rights and remedies at law or in equity, FCT shall have the right to <br /> seek temporary and permanent injunctions against the Recipient for any disallowable activities on the <br /> Project Site. <br /> DELEGATIONS AND CONTRACTUAL ARRANGEMENTS BETWEEN THE RECIPIENT AND <br /> OTHER GOVERNMENTAL BODIES, NONPROFIT ENTITIES OR NON GOVERNMENTAL <br /> PERSONS FOR USE OR MANAGEMENT OF THE PROJECT SITE WILL IN NO WAY <br /> RELIEVE THE RECIPIENT OF THE RESPONSIBILITY TO ENSURE THAT THE <br /> CONDITIONS IMPOSED HEREIN ON THE PROJECT SITE AS A RESULT OF UTILIZING <br /> BOND PROCEEDS TO ACQUIRE THE PROJECT SITE ARE FULLY COMPLIED WITH BY <br /> THE CONTRACTING PARTY. <br /> IX. RECORDKEEPING; AUDIT REQUIREMENTS <br /> 1 . The Recipient shall maintain financial procedures and support documents, in <br /> accordance with generally accepted accounting principles, to account for the receipt and expenditure <br /> of funds under this Agreement. These records shall be available at all reasonable times for <br /> inspection, review or audit by state personnel, FCT and other personnel duly authorized by FCT. <br /> "Reasonable" shall be construed according to the circumstances, but ordinarily shall mean the normal <br /> business hours of 8 : 00 a.m. to 5 : 00 p.m., local time, Monday through Friday. <br /> DRC\07=030=FF7 <br /> 4 / 8 / 2008 8 <br />