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<br />NOW THEREFORE, pursuant to and for the purpose of carrying out the provisions of the Airport <br />and Airway Improvement Act of 1982, as amended by the Airport and Airway Safety and Capacity <br />Expansion Act of 1987, herein called the "Act," and/or the Aviation Safety and Noise Abatement Act <br />of 1979, and in consideration of (a) the Sponsor's adoption and ratification of the representations and <br />assurances contained in said Project Application and its acceptance of this Offer as hereinafter <br />provided, and (b) the benefits to accrue to the United States and the public from the accomplishment <br />of the Project and compliance with the assurances and conditions as herein provided, THE FEDERAL <br />AVIATION ADMINISTRATION, FOR AND ON BEHALF OF THE UNITED STATES, HEREBY <br />OFFERS AND AGREES to pay, as the United States share of the allowable costs incurred in <br />accomplishing the Project, ninety (90) percentum of all allowable project costs. <br /> <br />This Offer is made on and subject to the following terms and conditions: <br /> <br />Conditions <br /> <br />1. The maximum obligation of the United States payable under this offer shall be $413,000.00. <br /> <br />2. The allowable costs of the project shall not include any costs determined by the FAA to be <br />ineligible for consideration as to allowability under the Act. <br /> <br />3. Payment of the United States share of the allowable project costs will be made pursuant to and <br />in accordance with the provisions of such regulations and procedures as the Secretary shall <br />prescribe. Final determination of the United States share will be based upon the final audit of <br />the total amount of allowable project costs and settlement will be made for any upward or <br />downward adjustments to the Federal share of costs. <br /> <br />4. The sponsor shall carry out and complete the Project without undue delays and in accordance <br />with the terms hereof, and such regulations and procedures as the Secretary shall prescribe, and <br />agrees to comply with the assurances which were made part of the project application. <br /> <br />5. The FAA reserves the right to amend or withdraw this offer at any time prior to its acceptance <br />by the sponsor. <br /> <br />6. This offer to pay any part of the costs of the project unless this offer has been accepted by the <br />sponsor on or before 30 days from date of Grant Offer or such subsequent date as may be <br />prescribed in writing by the FAA <br /> <br />FM Form 5100-37 (10-89) Development or Noise Program <br /> <br />Page 2 of 6 Pages <br />