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against poor workmanship, fraud, or other potential loss associated with <br /> completion of the grant project. <br /> M. Assignability <br /> Without the written consent of the STATE, the GRANTEE'S interest in and <br /> responsibilities under this CONTRACT shall not be assignable by the GRANTEE <br /> either in whole or in part. <br /> N. Use of Grant Monies <br /> GRANTEE shall not use any grant funds (including any portion thereof) for the <br /> purpose of making any leverage loan, pledge, promissory note or similar financial <br /> device or transaction, without: 1) the prior written approval of the STATE; and 2) <br /> any financial or legal interests created by any such leverage loan, pledge, <br /> promissory note or similar financial device or transaction in the project property <br /> shall be completely subordinated to this CONTRACT through a Subordination <br /> Agreement provided and approved by the STATE, signed by all parties involved in <br /> the transaction, and recorded in the County Records against the fee title of the <br /> project property. <br /> O. Section Headings <br /> The headings and captions of the various sections of this CONTRACT have been <br /> inserted only for the purpose of convenience and are not a part of this CONTRACT <br /> and shall not be deemed in any manner to modify, explain, or restrict any of the <br /> provisions of this CONTRACT. <br /> P. Waiver <br /> Any failure by a party to enforce its rights under this CONTRACT, in the event of a <br /> breach, shall not be construed as a waiver of said rights; and the waiver of any <br /> breach under this CONTRACT shall not be construed as a waiver of any <br /> subsequent breach. <br /> City of Santa Ana <br /> GRANTEE <br /> By: See attached signature page �� <br /> Signature of Authorized Representative <br /> Title: <br /> Date: <br /> STATE OF CALIFORNIA <br /> 7 <br />