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In the event Happy Feet is found to be out of compliance with this section, Happy Feet shall repay the principal amount of the grant as stated in Exhibit B "Compensation' below. 8. Happy Feet agrees th s Grant shall be evidenced by a promissory note and secured by a deed of lrust or other appropr"iate security instrument in favor of Kittitas Counly (the "Deed of Trust"). The Deed of Trust shall be recorded in Kittitas County, and the original returned to Kittitas County after recordation within ninety (90) days of conlract execution, Kittitas County will initially be in lienholder position ?, but will then be subrogated to position 3 lienholder when the lender and WA Dept of Commerce recard their respective Deeds of Trust. The Deeds of Trust and needed subrogation documentation will be provlded by Happy Feet for Kittitas County's review and approval. Recording will be handled by Happy Feet, at Happy Feet's expense. The Deed of Trust must be recorded before Kittitas County will provide funds to Happy Feet. The amount secured by the Deed of Trust shall be the amount of thegrant as set farth in Exhibit uB" Compensation, below. The Deed of Trust shall remain in full force and effect for a period of ten {10} years following the final paymenl of state funds to Happy Feet under this grant" Upon satisfaction of the 10-year term requirement and all other grant terms and conditions, Klttitas Co*nty shall, upon written request of Happy Feet, take appropriate action to reconvey the Deed of Trust. However, Happy Feet must provide written evidence of site control, for a minimum of 10 years after final grant payment, either through outright ownership of the subject proper$ or a longterm lease. g. Frovlde insurance co\erage as set forth below" The intent of the required insurance to is protect {ittitas County should there be any claims, $uits, actlons, costs, damages, CIr expenses arising from any loss, or negligent or intentional act or omission of the Grantee, or" agents thereof, while performing under the terms of this Grant. The Grantee shall provide Kittitas County with copies of insurance instruments, eedifications, and endssements from the insurance issuing agency. The copies or certifications shall show the insurance coverag€, the designated beneficiary, who is covered, the amounts, the period of coverage, and that Kittitas County will be provided thirty {30} days advance wriften notice of cancellation. Fage 6 of 7