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<br /> <br /> <br /> <br /> Supplier's Name <br /> Funding Agreement No. 84 <br /> Page 16 of 20 <br /> ARTICLE A-23. PERFORMANCE AND ASSURANCES <br /> <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 /> <br /> ARTICLE A-24. DEFAULT PROVISIONS <br /> <br /> (a) Supplier will be in default under this Agreement if any of the following occur: <br /> <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 /> <br /> (3) Supplier's making of any false warranty, representation, or statement with <br /> respect to this Agreement or the Project; <br /> <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 /> <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 /> <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 /> <br /> (3) Terminate any obligation of State to make further disbursements to <br /> Supplier under this Agreement; <br /> <br /> (4) Perform any of Supplier's obligations under this Agreement for Supplier's <br /> account; and/or <br /> <br /> (5) Take any other action it deems necessary to protect its interests. <br /> <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 /> <br /> 1s <br /> <br /> <br /> 55A-34 <br />