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against poor workmanship, fraud, or other potential loss associated with <br />completion of the grant project. <br />M. Assignability <br />Without the written consent of the STATE, the GRANTEE'S interest in and <br />responsibilities under this CONTRACT shall not be assignable by the GRANTEE <br />either in whole or in part. <br />N. Use of Grant Monies <br />GRANTEE shall not use any grant funds (including any portion thereof) for the <br />purpose of making any leverage loan, pledge, promissory note or similar financial <br />device or transaction, without: 1) the prior written approval of the STATE; and 2) <br />any financial or legal interests created by any such leverage loan, pledge, <br />promissory note or similar financial device or transaction in the project property <br />shall be completely subordinated to this CONTRACT through a Subordination <br />Agreement provided and approved by the STATE, signed by all parties involved in <br />the transaction, and recorded in the County Records against the fee title of the <br />project property. <br />O. Section Headings <br />The headings and captions of the various sections of this CONTRACT have been <br />inserted only for the purpose of convenience and are not a part of this CONTRACT <br />and shall not be deemed in any manner to modify, explain, or restrict any of the <br />provisions of this CONTRACT. <br />P. Waiver <br />Any failure by a party to enforce its rights under this CONTRACT, in the event of a <br />breach, shall not be construed as a waiver of said rights; and the waiver of any <br />breach under this CONTRACT shall not be construed as a waiver of any <br />subsequent breach. <br />III. Special Provisions: <br />On March 4, 2022, Governor Gavin Newsom issued Executive Order N-6-22 (the <br />EO) regarding Economic Sanctions against Russia and Russian entities and <br />individuals. "Economic Sanctions" refers to sanctions imposed by the U.S. <br />government in response to Russia's actions in Ukraine, as well as any sanctions <br />imposed under state law. The EO directs state agencies to terminate contracts with, <br />and to refrain from entering any new contracts with, individuals or entities that are <br />determined to be a target of Economic Sanctions. This Executive order extends to <br />recipients of any State Grants (Grantee). Grantees include those who have <br />contracted or will contract to receive State grants funds. Accordingly, should the <br />State determine that a Grantee is a target of Economic Sanctions or is conducting <br />