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4.02 Unused Grant Funds. If R3bi fails to spend or obligate all of the grant funds <br />received from the City before the expiration or earlier termination of this Agreement, R3bi shall <br />return those unused funds to the City of Paris. <br />Article V <br />Default/Reimbursement <br />501. Grounds for Default. The City may declare a default under this Agreement and, <br />subject to Section 5.02 may terminate this Agreement if: <br />(a) R3bi refuses, fails or neglects to comply with all obligations set forth in Article III of <br />this Agreement; <br />(b) R3bi made or makes any representation relied upon by the City in entering into this <br />Agreement or in any subsequent request or submission to the City relating to this Agreement that <br />is false or misleading in any material respect. <br />(c) R3bi allows ad valorem taxes or other taxes or fees due or owed to the City to <br />become delinquent; or <br />5.02 Notice of Default. If the City finds that R3bi is in default of any of the provisions <br />listed in Section 5.01 above, Agreement on a basis other than as provided in section 5.01 (a), the <br />City will notify R3bi in writing of such default, and if the default is not cured within 30 days <br />from the date of the notice, then the City may terminate this Agreement. <br />5.03 Remedies not Exclusive. The City may exercise its remedies for default in <br />conjunction with one another or separately, and together with any other statutory or common law <br />remedies available to the City. Any failure by the City to enforce this Agreement with respect to <br />one or more defaults by R3bi will not waive the City's ability to enforce the Agreement after that <br />time. <br />Article VI <br />Termination <br />6.01 Termination. This Agreement terminates upon any one or more of the <br />following: <br />(a) By expiration of the term and where no defaults have occurred; <br />(b) R3bi legally winds up its affairs and has disbursed all funds and provided <br />documentation for such disbursements, and returned excess funds, if any, to the City; <br />(c ) If a party defaults or breaches any of the terms or conditions of this <br />Agreement and such default or breach is not cured within thirty (30) days after written notice <br />thereof by the non - defaulting party unless a longer period is provided. Any default under this <br />Page 3 of 7 <br />