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PART IV - Nomination of the Agent <br /> <br />1. The Sponsor designates the State as the party to receive and disburse all funds used, or to <br /> be used, in payment of the costs of the project, or in reimbursement to either of the parties <br /> for costs incurred. <br /> <br />2. The State shall, for all purposes in connection with the project identified above, be the <br /> Agent of the Sponsor. The Sponsor grants the State a power of attorney to act as its agent <br /> to perform the following services: <br /> <br /> a. accept, receive, and deposit with the State any and all project funds granted, <br /> allowed, and paid or made available by the Sponsor, the State of Texas, or any <br /> other entity; <br /> <br /> b. enter into contracts as necessary for execution of scope of services; <br /> <br /> c. if State enters into a contract as Agent: exemise supervision and direction of the <br /> project work as the State reasonably finds appropriate. Where there is an <br /> irreconcilable conflict or difference of opinion, judgment, order or direction <br /> between the State and the Sponsor or any service provider, the State shall issue a <br /> written order which shall prevail and be controlling; <br /> <br /> d. receive, review, approve and pay invoices and payment requests for services and <br /> materials supplied in accordance with the State approved contracts; <br /> <br /> e. obtain an audit as may be required by state regulations; <br /> <br /> f. reimburse sponsor for approved contract maintenance costs no more than once a <br /> month. <br /> <br /> PART V - Recitals <br /> <br />1. This Grant is executed for the sole benefit of the contracting parties and is not intended or <br /> executed for the direct or incidental benefit of any third party. <br /> <br />2. It is the intent of this grant to not supplant local funds normally utilized for airport <br /> maintenance, and that any state financial assistance offered under this grant be in addition <br /> to those local funds normally dedicated for airport maintenance. <br /> <br />3. This Grant is subject to the applicable provisions of the Transportation Code, Chapters 21 <br /> and 22, and the Airport Zoning Act, Tex. Loc. Govt. Code Ann. Sections 241.001 et seq. <br /> <br /> Page 6 of 12 <br /> <br />AVN4301 .DOC (10/2003) <br /> <br /> <br />