Laserfiche WebLink
<br />" <br /> <br />Payment of the United states share of the allowable project <br />costs will be made pursuant to and in accordance with the <br />provisions of such regulations and procedures as the state and <br />the Federal Aviation Administration, hereinafter referred to <br />as the "FAA", shall prescribe. Final determination of the <br />United states share will be based upon the final audit of the <br />total amount of allowable project costs and settlement will be <br />made for any upward or downward adjustments to the Federal <br />share of costs. <br /> <br />5. Should estimated total project costs as determined following <br />the receipt of construction bids for the project, exceed the <br />amount shown above (Amount A), the Sponsor may request the <br />State to void this Agreement, whereupon the State shall agree <br />to void this Agreement upon the satisfaction of the following <br />conditions: <br /> <br />a. the Sponsor's request to the state to void the Agreement <br />shall be in writing and dated; and <br /> <br />b. if required by the State, the Sponsor shall reimburse the <br />State for funds expended on this project and Sponsor <br />shall assume the responsibility for any future expenses <br />for contracted services or materials related to the <br />project for which a contract had been executed prior to <br />the Sponsor's request to void the Agreement. Sponsor <br />,funds held by the state may be retained until this <br />4requirement is satisfied; and <br /> <br />c. failure on the part of the Sponsor to comply with the <br />conditions of this paragraph shall constitute a breach of <br />this Agreement. <br /> <br />6. Upon satisfaction of the conditions specified in Paragraph <br />II-5 above, the state shall declare this Agreement null and <br />void, and this Agreement shall have. no force and effect, <br />except that unexpended or unencumbered monies actually <br />deposited by the Sponsor and held with the State for project <br />purposes shall be returned to the Sponsor within a reasonable <br />time. <br /> <br />7. Sponsor's share of project costs may be in cash, in kind, or <br />a combination of both, provided however, that the Sponsor's <br />share (Amount C) shall be paid initially in cash if requested <br />by the State. At project closeout, Sponsor will be credited <br />with both cash payments made under this paragraph and the <br />value of in kind contributions, and reimbursed for any <br />credited amounts that exceed Sponsor's share. <br /> <br />The value of all in kind contributions made <br />property interests, small miscellaneous <br />expenses approved by the State and claimed <br /> <br />to the <br />costs <br />by the <br /> <br />project of <br />and other <br />Sponsor as <br /> <br />Page 3 of 14 <br />