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MnDOT Contract No. 02010 <br />C. If the Public Entity fails to fully comply with any provision, covenant or warranty contained <br />in Minn. Stat. Sec. 16A.695, the Commissioner's Order, or Minn. Stat. Sec. 174.50 and all <br />rules related thereto. <br />D. If the Public Entity fails to use the proceeds of the LRIP Grant for the purposes set forth in <br />Section 2.03, the Grant Application, and in accordance with the LRIP. <br />E. If the Public Entity fails to operate the Real Property for the purposes specified in Section <br />2.04. <br />F. If the Public Entity fails to complete the Project by the Completion Date. <br />G. If the Public Entity sells or transfers any portion of its ownership interest in the Real Property <br />without first obtaining the written consent of both MnDOT and the Commissioner. <br />H. If the Public Entity fails to provide any additional funds needed to fully pay for the Project. <br />L If the Public Entity fails to supply the funds needed to operate the Real Property in the <br />manner specified in Section 2.04. <br />Notwithstanding the foregoing, any of the above events that cannot be cured shall, unless waived in <br />writing by MnDOT and the Commissioner, constitute an Event of Default under the Agreement <br />immediately upon either MnDOT or the Commissioner giving the Public Entity written notice of such <br />event. <br />Section 2.08 Remedies. Upon the occurrence of an Event of Default and at any time thereafter <br />until such Event of Default is cured to the satisfaction of MnDOT, MnDOT or the Commissioner may <br />enforce any or all of the following remedies. <br />A. MnDOT may refrain from disbursing the LRIP Grant; provided, however, MnDOT may <br />make such disbursements after the occurrence of an Event of Default without waiving its <br />rights and remedies hereunder. <br />B. If the Event of Default involves a sale of the Public Entity's interest in the Real Property in <br />violation of Minn. Stat. Sec. 16A.695 or the Commissioner's Order, the Commissioner, as a <br />third party beneficiary of the Agreement, may require that the Public Entity pay the amounts <br />that would have been paid if there had been compliance with such provisions. For other <br />Events of Default, the Commissioner may require that the Outstanding Balance of the LRIP <br />Grant be returned to it. <br />C. Either MnDOT or the Commissioner, as a third party beneficiary of the Agreement, may <br />enforce any additional remedies it may have in law or equity. <br />The rights and remedies specified herein are cumulative and not exclusive of any rights or remedies that <br />MnDOT or the Commissioner would otherwise possess. <br />If the Public Entity does not repay the amounts required to be paid under this Section or under any other <br />provision contained herein within 30 days of demand by the Commissioner, or any amount ordered by a <br />court of competent jurisdiction within 30 days of entry of judgment against the Public Entity and in favor <br />of MnDOT and/or the Commissioner, then such amount may, unless precluded by law, be offset against <br />any aids or other monies that the Public Entity is entitled to receive from the State of Minnesota. <br />9 <br />