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L If the necessary funds are not available to fund this Agreement as a result of action by <br /> the Florida Legislature or the Office of the Comptroller, or if any of the events below occur ("Events <br /> of Default"), all obligations on the part of FCT to make any further payment of funds hereunder <br /> shall, if FCT so elects, terminate and FCT may, at its option, exercise any of its remedies set forth <br /> herein, but FCT may make any payments or parts of payments after the happening of any Events of <br /> Default without thereby waving the right to exercise such remedies, and without becoming liable to <br /> make any further payment. The following constitute Events of Default: <br /> a. If any warranty or representation made by the Recipient in this Agreement, <br /> any previous agreement with FCT or in any document provided to FCT shall <br /> at any time be false or misleading in any respect, or if the Recipient shall fail <br /> to keep, observe or perform any of the terms or covenants contained in this <br /> Agreement or any previous agreement with FCT and has not cured such in <br /> timely fashion, or is unable or unwilling to meet its obligations thereunder; <br /> b. If any material adverse change shall occur in the financial condition of the <br /> Recipient at any time during the term of this Agreement from the financial <br /> condition revealed in any reports filed or to be filed with FCT, and the <br /> Recipient fails to cure said material adverse change within thirty (30) days <br /> from the date written notice is sent to the Recipient by FCT; <br /> C . If any reports or documents required by this Agreement have not been timely <br /> submitted to FCT or have been submitted with incorrect, incomplete or <br /> insufficient information; or <br /> d. If the Recipient fails to perform and complete in timely fashion any of its <br /> obligations under this Agreement. <br /> 2. Upon the happening of an Event of Default, FCT may, at its option, upon thirty (30) <br /> calendar days from the date written notice is sent to the Recipient by FCT and upon the Recipient' s <br /> failure to timely cure, exercise any one or more of the following remedies, either concurrently or <br /> consecutively, and the pursuit of any one of the following remedies shall not preclude FCT from <br /> pursuing any other remedies contained herein or otherwise provided at law or in equity : <br /> a. Terminate this Agreement, provided the Recipient is given at least thirty (30) <br /> days prior written notice of such termination. The notice shall be effective <br /> when placed in the United States mail, first class mail, postage prepaid, by <br /> registered or certified mail-return receipt requested, to the address set forth in <br /> paragraph V. 2. herein; <br /> b. Commence an appropriate legal or equitable action to enforce performance of <br /> this Agreement; <br /> C. Withhold or suspend payment of all or any part of the FCT Award; <br /> 07-039-FF7 <br /> Dec. 13, 2007 <br /> Pre-acquisition <br /> - 16- <br />