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<br />a. the Sponsor's request to the State to void the Agreement shall be in writing and <br />dated; and <br /> <br />b. if required by the State, the Sponsor shall reimburse the State for funds expended <br />on this project and Sponsor shall assume the responsibility for any future expenses <br />for contracted services or materials related to the project for which a contract had <br />been executed prior to the Sponsor's request to void the Agreement. Sponsor <br />funds held by the State may be retained until this requirement is satisfied; and <br /> <br />c. failure on the part of the Sponsor to comply with the conditions ofthis paragraph <br />shall constitute a breach ofthis Agreement. <br /> <br />6. Upon satisfaction of the conditions specified in Paragraph II-5 above, the State shall <br />declare this Agreement null and void, and this Agreement shall have no force and effect, <br />except that unexpended or unencumbered moneys actually deposited by the Sponsor and <br />held with the State for project purposes shall be returned to the Sponsor within a <br />reasonable time. <br /> <br />7. If there is an overrun in the eligible project costs, the State may not increase the grant to <br />cover the amount of overrun. The Sponsor is responsible for all overruns. The State will <br />not authorize expenditures in excess of the dollar amounts identified in this Agreement and <br />any amendments thereto, without the consent of the Sponsor. <br /> <br />Payment of the United States share of the allowable project costs will be made pursuant to <br />and in accordance with the provisions of such regulations and procedures as the State and <br />FAA, shall prescribe. Final determination of the United States share will be based upon <br />the final audit of the total amount of allowable project costs and settlement will be made <br />for any upward or downward adjustments to the Federal share of costs. <br /> <br />8. Sponsor, by executing this Agreement certifies, and upon request, shall furnish proof to <br />the State that it has sufficient funds to meet its share of the costs as stated. The Sponsor <br />grants to the State and federal government the right, upon advance written request during <br />reasonable and regular business hours, to audit any books and records of the Sponsor to <br />verifY said funds. In addition, the Sponsor shall disclose the source of all funds for the <br />project and its ability to finance and operate the project. <br /> <br />Expenditures for eligible project costs for the above project made by the State or the <br />Sponsor prior to the award of a federal grant for said project, and prior to actual receipt of <br />the authority to expend federal grant funds, shall be made from Sponsor funds. <br /> <br />MontWy grant payments to the Sponsor will be made upon request to the State. Payments <br />of the State's share of the allowable . project costs will be made in proportion to the <br />amount expended by the Sponsor for the eligible project costs. No more than ninety (90) <br />percent of the total grant will be paid prior to the completion of the project. The last ten <br />(10) percent of the grant will be paid only after the staff has inspected and approved the <br />completed project. <br /> <br />10. The State shall make all reasonable attempts to acquire federal funding for the completion <br /> <br />Page 3 of 27 <br />