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3 . Each parcel to which the Recipient acquires title in the Project Site shall be subject <br /> to such covenants and restrictions as are, at a minimum, sufficient to ensure that <br /> the use of the Project Site at all times complies with Section 375 . 051 and 380 . 510 , <br /> F . S . ; Section 11 (e) , Article VII of the State Constitution ; the applicable bond <br /> indenture under which the Bonds were issued ; and any provision of the Internal <br /> Revenue Code or the regulations promulgated thereunder that pertain to tax exempt <br /> bonds and shall contain clauses providing for the conveyance of title to the Project <br /> Site in the Board of Trustees of the Internal Improvement Trust Fund upon failure <br /> to use the Project Site conveyed thereby for such purposes . <br /> 4 . A Grant Award Agreement containing such covenants and restrictions as <br /> referenced in paragraph g above and describing the real property subject to the <br /> Agreement shall be executed by the FCT and Recipient at the time of the <br /> reimbursement for the Project Site and shall be recorded in the county in which the <br /> Project Site is located . The Grant Award Agreement shall restate the conditions <br /> that were placed on the Project Site at the time of project selection and initial grant <br /> approval . All statements contained in the Grant Award Agreement are contained <br /> in this Conceptual Approval Agreement, with the exception of statements that do <br /> not survive the real estate closing of the Project Site . <br /> 5 . If any essential term or condition of the Grant Award Agreement is violated, and <br /> the Recipient does not correct the violation within 30 days of written notice of <br /> violation, title to all interest in the Project Site shall be conveyed to the Board of <br /> Trustees of the Internal Improvement Trust Fund . The deed transferring title to the <br /> Project Site to the Recipient shall set forth the executory interest of the Board of <br /> Trustees of the Internal Improvement Trust Fund . <br /> 6 . The interest acquired by the Recipient in the Project Site shall not serve as security <br /> for any debt of the Recipient . <br /> 7 . If the existence of the Recipient terminates for any reason, title to all interest in real <br /> property it has acquired with the FCT award shall be conveyed or revert to the <br /> Board of Trustees of the Internal Improvement Trust Fund, unless FCT negotiates <br /> an agreement with another local government or nonprofit organization which <br /> agrees to accept title to all interest in and to manage the Project Site . <br /> This Addendum I and the Grant Contract embody the entire agreement between the <br /> parties . <br /> 02 - 058 -FF2 <br /> 02/09/04 <br /> CAAAMD . 1 <br /> 8 <br />