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16. Comply with the Construction Fund Program Procedures <br /> attached hereto as Exhibit D and incorporated by reference <br /> herein. <br /> C `t <br /> 17. Comply with the provisions of Section 37- , <br /> C.R.S. , and any other applicable statutes, prc lures,� --� + <br /> requirements, rules, or regulations which the, Satb lia ,-, <br /> a Y 7r- <br /> 18 <br /> Not sell, convey, assign, grant, transfer, mortgage.,r;' ' .r <br /> pledge, encumber, or otherwise dispose of the project or any <br /> portion thereof or the assessment revenues pledged to repay the <br /> loan as required by paragraph L. herein, so long as any of the <br /> annual installments required by paragraph A. 13 . above remain <br /> unpaid, without the prior written concurrence of the State. <br /> B. Upon default in the payments herein set forth to be made by <br /> the Contractor, or default in the performance of any covenant or <br /> agreement contained herein, the State, at its option, may: (a) <br /> declare the entire principal amount then outstanding immediately <br /> due and payable; (b) for the account of the Contractor, incur <br /> and pay reasonable expenses for repair, maintenance, and <br /> operation of the project herein described and such expenses as <br /> may be necessary to cure the cause of default; (c) take <br /> possession of the project, repair, maintain, and operate or <br /> lease it; (d) act upon the security (described in paragraph <br /> A. 14 . above) conveyed to the State; (e) take action to enforce <br /> paragraphs A. 11. and 13 . above; and/or (f) take any other <br /> appropriate legal action. All remedies described herein may be <br /> simultaneously or selectively and successively enforced. The <br /> provisions of this contract may be enforced by the State at its <br /> option without regard to prior waivers by it of previous <br /> defaults by the Contractor, through judicial proceedings to <br /> require specific performance of this contract, or by such other <br /> proceedings in law or equity as may be deemed necessary by the <br /> Page 9 of 17 Pages <br />