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DocuSign Envelope ID:63E81679-OC83-4B6C-B9E4-AFBB81985720 <br /> refund the value of the Federal and State interest in that property, as the <br /> Department may require. <br /> k. Responsibilities after Project Closeout. The Subrecipient agrees that Project <br /> closeout by the Department will not change the Subrecipient's Project property <br /> management responsibilities, and as may be set forth in subsequent Federal and <br /> State laws, regulations, and directives, except to the extent the Department <br /> determines otherwise in writing. <br /> 15.Insurance <br /> The Subrecipient shall be responsible for protecting the state and/or federal financial <br /> interest in the facility construction/renovation and equipment purchased under this <br /> Agreement throughout the useful life. The Subrecipient shall provide, as frequently and <br /> in such manner as the Department may require, written documentation that the facility <br /> and equipment are insured against loss in an amount equal to or greater than the state <br /> and/or federal share of the real value of the facility or equipment. Failure of the <br /> Subrecipient to provide adequate insurance shall be considered a breach of contract and, <br /> after notification may result in termination of this Agreement. In addition, other insurance <br /> requirements may apply. The Subrecipient agrees to comply with the insurance <br /> requirements normally imposed by North Carolina State and local laws, regulations, and <br /> ordinances, except to the extent that the Department determines otherwise in writing. <br /> 16.Termination <br /> a. Either party may terminate the Agreement by providing 60 days written notice <br /> to the other party, or as otherwise permitted by law. <br /> b. Should the Subrecipient terminate the Agreement without the concurrence of <br /> the Department, the Subrecipient shall reimburse the Department one hundred <br /> percent (100%) of all costs expended by the Department and associated with <br /> the work. <br /> 17. Additional Repayment Requirements and Remedies <br /> a. The repayment requirements and remedies addressed in this Paragraph are in <br /> addition to those repayment requirements and other remedies set forth <br /> elsewhere in this Agreement, including the requirements to repay unspent <br /> funds. No remedy conferred or reserved by or to the Department is intended <br /> to be exclusive of any other available remedy or remedies, but each and every <br /> such remedy shall be cumulative and shall be in addition to every other remedy <br /> provided for in this Agreement, or now or hereinafter existing at law, in equity, <br /> or by statute, and any such right or power may be exercised from time to time <br /> and as often as may be deemed expedient. <br /> b. If there is a breach of any of the requirements, covenants or agreements in this <br /> Agreement (including, without limitation, any reporting requirements), or if there <br /> NCDOT PTD Federal Agreement Page 12 of 23 <br /> Revised 12/28/2018 <br />