; and (II) the costs are incurred— (aa) before the end of the initial 5-year period for which the approved working waterfronts plan associated with the grant application, if any, is effective; or (bb) for working waterfronts described in clause (i), within the time limits described in that clause. (11) Working waterfront covenants (A) In general An eligible covered entity that is awarded a grant under this subsection may use such grant award with respect to a working waterfront only for which each person other than the eligible covered entity that holds title to or an interest in such working waterfront enters into a working waterfront covenant. (B) Violation (i) In general An eligible covered entity may determine, on the record after an opportunity for a hearing, that a working waterfront covenant of the eligible covered entity has been violated. (ii) Reversion; conveyance; right of immediate entry If an eligible covered entity makes a determination under clause (i) that a violation described under that clause has occurred— (I) all right, title, and interest in and to the working waterfront covered by the violated working waterfront covenant shall revert to the eligible covered entity; (II) the eligible covered entity may convey the working waterfront or interest in the working waterfront to a qualified holder