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this agreement may be rescinded, modified or amended only hy mutual <br />agreement. A project shall be deemed commenced at Lhe time the Applicant <br />signs Chis project agreement. <br /> <br /> B. Failure by the Applicant to comply witi~ the terms of this <br />agreement or any similar agreement may be cause for the suspension of all <br />obligations of the State herennder. <br /> <br /> C. Faiinre by the Applicant to comply with the terms of this <br />agreement shall not be cause for the snspension of all ohligatlons of the <br />State hereunder if, in the judgement of the State and the Director, such <br />failure was due to no fault of the Applicant. tn such case, any amount <br />required to settle a~ minimnm costs any irrevocable obligations properly <br />incurred shall be eligible for assistance under this agreement. <br /> <br /> D. Because the benefit to be derived by the State and the <br />United States from the full compliance by the Applicant wi~h the terms of <br />this agreement is the preservation, protection, anti the net increase in <br />the qnality of public outdoor recreation facilities and resot~rces which <br />are available to the people of the State of North Carolina and of the <br />United States, and because such benefit exceeds to an immeasurable and <br />unascertainable extent the amount of money furaished by the United States <br />by way of assistance under the terms of this agreement, the Applicaut <br />agrees thaL payment by the Applicant to the United State.: of an amonnt <br />equal to the compensation to the ~nited States for a~y breach by the <br />Applicant of this agreement. The Applicant further agrees, ~herefore, <br />that the appropriate remedy in the event of a breach by the Applicant of <br />this agreement shall be the specific performance of this agceement. <br /> <br /> VI. ~TENTION, OPERATION, MAINTENANCE, AND USE <br /> <br /> A. Purpose. The standards which apply to the retention, operation, <br />maintenance, and use of properties and facilities acquired or developed <br />with Fund assistance are contained in this sect/on. <br /> <br /> B. The Applicant agrees to operate and maintain solely at its <br />own expense, insofar as it is legally impowered to do so, for as Io~lg as <br />they exist, the facilities and areas covered by this Agreement. <br /> <br /> C. Retention and Use. Property acquired or developed with <br />assistance from the Fund shall be retained and nsed for public o,rdoor <br />recceation. Any property so acquired or developed ~hall not be wl~(,lly or <br />partly converted to other than public outdoor recreation uses w/tho~lt the <br />approval of the Director. Snch approval will he given oa[y if the <br />conversion is in accord with the current compreheusive storewide outdoor <br />recreation plan that has been lo,md by the Director to be adeqnate for the <br />purpose of the Act and only upon such conditions as the Oirector deems <br />necessary to assure the substitutfon of other recreation properties of at <br />least equal fair market value and of reasonably equivalent usefulness, <br />quality, and location. <br /> <br /> Page 7 of 11 <br /> <br /> <br />