Res 2015-045/Loan forgiveness agreement with TWBD for Reclaimed Water System Expansion

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cure. The Executive Administrator may modify the City's plan to cure only in a manner consistent with the terms and conditions of this Agreement. D. City's Option. The City shall notify the Executive Administrator within five business days whether it accepts the amended plan. If the City does not accept the amended plan, the Executive Administrator may terminate this Agreement. Upon successful completion of the plan to cure the conditions causing the SWO, the City shall continue work to complete all obligations under this Agreement. 6.02. TERMINATION. The TWDB may terminate this Agreement in writing at any time. Upon receipt of a notice of termination, the City shall immediately discontinue all work in connection with the performance of this Agreement and shall promptly cancel all existing orders or other financial commitments chargeable to funding provided pursuant to this Agreement, provided, however, that any costs for Eligible Expenses incurred prior to the receipt of such written notice by the City shall be payable from the funding provided pursuant to this Agreement. Within thirty days of the notice of termination, the City shall submit a statement showing in detail the work performed, all payments received by the City, and all payments made by or due from the City to any contractor prior to the date of termination. 6.03. SURVIVAL OF TERMS AND CONDITIONS. A. Termination or expiration of this Agreement for any reason shall not release either Party from any liabilities or obligations set forth in this Agreement that: the Parties have expressly agreed shall survive any such termination or expiration, if any; or 2. by their nature, would be intended to be applicable following any such termination or expiration. B. The Parties expressly agree that the following terms and conditions survive the termination or expiration of this Agreement. 1. Article V, Sections 5.03, 5.04, 5.05, 5.07, 5.08, and 5.09. 2. Article VII, General Terms and Conditions. 6.04. REAL ESTATE. If the City purchases real estate for the Project with Loan Forgiveness Funds and any of the real estate or portion of the real estate is not used for the Project, the City shall repay to the TWDB the full amount of the Loan Forgiveness Funds for purchase of the real estate that is not used for the Project. Such amount shall be due and payable within 90 days after termination or expiration of this Agreement. TWDB Contract No.LF1000351 Page 11 of 15 OGC -001 11/06/2014