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Name of Recipient Agreement No.: XX-XXX-550 Project No.: C-06-XXXX-XXX the terms of the contract by the Completion of Construction date established in Exhibit A. Such date shall be binding upon the Recipient unless modified in writing by the Division upon a showing of good cause by the Recipient. The Recipient shall deliver any request for extension of the Completion of Construction date no less than 90 days prior to the Completion of Construction date. The Division will not unreasonably deny such a timely request, but the Division may deny requests received after this time. 2.11 Notice. (1) The Recipient agrees to notify the Division in writing within five(5) days of the occurrence of any of the following: (a) Principal and interest payment delinquencies on Materaal Obligations; (b) Non payment related material defaults on Material Obligations; (c) Unscheduled draws on debt service reserves reflecting financial difficulties of the System or the Recipient; (d) Unscheduled draws on credit enhancements, if any, reflecting financ ekdiffculties of the System; A \. (e) Substitution of credit or liquidity-providers of the Recipient, if any, or their failure to perform; (f) Adverse tax opinions, the issuance.by the Internal Revenue Service or proposed or final (I' determinations of taxability, Notices of Proposed Issue RS Form 5701-TEB)or other material notices_of_determinations with respect to,the tax-status of any tax-exempt bonds; (g) Rating changes on Recipient's outstanding water wastewater, or general obligation bonds, if any; 'v A (h) Bankruptcy, insolvency receivership, oi , r.similar event of the Recipient; ‘, A/ (i)" Actions taken in anticipation of filingChapter 9, as required under state law; (j) Any litigation pending or'threatened against Recipient regarding its wastewater or water \ enterprises or its.confinued.existence, any circulation of a petition to challenge rates, any formal consideratibn of dissolution or disincorporation, or any other material threat to the Recipient's System or Revenues (k) Listed Events; (I) Change of ownership of the Project or change of management or service contract for operation of the,Project; or (m) Negotiations regarding proposed parity obligations. (2) The Recipient agrees to notify the Division promptly of the following: (a) Any substantial change in scope of the Project. The Recipient agrees that no substantial change in the scope of the Project will be undertaken until written notice of the proposed change has been provided to the Division and the Division has given written approval for such change; 6