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Supplier's Name <br />Funding Agreement No. 84 <br />. Page 16 of 20 <br />ARTICLE A-23. PERFORMANCE AND ASSURANCES <br />Supplier agrees to faithfully and expeditiously perform or cause to be performed <br />all Project work as described in the final plans and specifications as submitted to and <br />approved by State, and to apply funds received only to Eligible Project Costs and to <br />operate and maintain the Project in accordance with applicable provisions of the law. <br />ARTICLE A-24. DEFAULT PROVISIONS <br />(a) Supplier will be in default under this Agreement if any of the following occur: <br />(1) Supplier's failure to make any remittances required by this Agreement; <br />(2) Supplier's substantial breach of this Agreement, or any supplement or <br />amendment to it; <br />(3) Supplier's making of any false warranty, representation, or statement with <br />respect to this Agreement or the Project; <br />(4) Dissolution or cessation of operations by Supplier, termination of <br />Supplier's existence, insolvency of Supplier, or filing of a voluntary or involuntary <br />bankruptcy petition by or on behalf of Supplier; and/or <br />(b) When an event of default occurs, State may give Supplier notice of default. <br />Supplier shall have thirty (30) calendar days from the date of such notice to cure the <br />default. If Supplier fails to timely cure the default to the satisfaction of State, then State <br />may do any or all of the following: <br />(1) Declare that any and all amounts disbursed to Supplier under the terms of <br />this Agreement shall be deemed an obligation of Supplier and due and payable <br />to State; <br />(2) Declare Supplier's obligations immediately due and payable, with or <br />without demand or notice to Supplier, which Supplier expressly waives; <br />(3) Terminate any obligation of State to make further disbursements to <br />Supplier under this Agreement; <br />(4) Perform any of Supplier's obligations under this Agreement for Supplier's <br />account; and/or <br />(5) Take any other action it deems necessary to protect its interests. <br />(c) Supplier agrees that any remedy provided in this Agreement is in addition to <br />and not in derogation of any other legal or equitable remedy available to State as a <br />1s <br />55A-34