(a) During any time that the eligible entity is in default of the terms of any project document, the Arkansas Natural Resources Commission may, if it so chooses, take control of the project, including but not limited to:

1. (1) Management and operation of the project;
2. (2) Establishment of user rates; or
3. (3) Any similar function.

(b) Control will generally be returned to the applicant upon cure of defaults unless such defaults:

1. (1) Are repeated; and
2. (2) Form a pattern of consistent failure to adhere to project documents.