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<br />24. DEFAULT; REMEDIES; TERMINATION <br /> <br />a. If any of the following events occur ("Events of <br /> <br />Default"), all obligations on the part of the Grantee to make any <br />further payment of funds hereunder shall, if the Grantee so <br /> <br />elects, terminate, and the Grantee may at its option exercise any <br /> <br />of its remedies set forth herein, but the Grantee may make any <br /> <br />payments or parts of payments after the happening of any Events <br />of Default without thereby waiving the right to exercise such <br /> <br />remedies, and without becoming liable to make any further <br /> <br />payment: <br /> <br />1. If any warranty or representation made by the <br /> <br />Subgrantee in this Agreement or any previous Agreement with the <br /> <br />Grantee shall at any time be false or misleading in any respect, <br /> <br />or if the Subgrantee shall fail to keep, observe or perform any <br />of the terms or covenants contained in this Agreement or any <br /> <br />. <br />previous agreement with the Grantee and has not cured such in <br /> <br />timely fashion, or is unable or unwilling to meet its obligations <br /> <br />thereunder; <br /> <br />2. If any material adverse change shall occur in <br /> <br />the financial condition of the Subgrantee at .any time during the <br />term of this Agreement from the financial condition revealed in <br />any reports filed or to be filed with the Grantee, and the <br /> <br />Subgrantee fails to cure said material adverse change within <br /> <br />thirty (30) days from the time the date written notice is sent by <br /> <br />the Grantee; <br /> <br />3. If any reports required by this Agr~ement have <br /> <br />Page 20 <br /> <br />FEMA-1306-DR-FL <br />