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219 Page 2 of 6- pages NOW THEREFORE, pursuant to and for the purpose of carrying out the provisions of the Airport and Airway Development Act of 1970, as amended (49 U.S.C. 1701), and in consideration of (a) the Sponsor's adoption and ratification of the representations and assurances contained in said Project Application, and its acceptance of this Offer as hereinafter provided, and (b) the benefits to accrue. to the United States and the public from the accomplishment of the Project and the operation and maintenance of the Airport as herein provided, THE FEDERAL AVIATION AD- MINISTRATION, FOR AND ON BEHALF OF THE UNITED STATES, HEREBY OFFERS AND AGREES to pay, as the United States share of the allowable costs incurred in 'accomplishing the Project, Seventy -five percentum of all allowable project costs. This Offer is made on and subject to the following terms and conditions: 1. The maximum obligation of the United States payable under this Offer shall be S 285,227.00 2. The Sponsor shall: (a) begin accomplishment of the Project within - - - -- NINETY (90) ------- - - - - -- days after acceptance of this Offer or such longer time as may be prescribed by the FAA, with failure to do so constituting just cause for termination of the obligations of the United States hereunder by the FAA; (b) carry out and complete the Project without undue delay and in accordance with the terms hereof, the Airport and Airway Development Act of 1970, and Sections 15`_'.51- 152.63 of the Regulations of the Federal Aviation Administration (14 CFR 152) in effect as of the date of acceptance of this Offer; which Regulations are hereinafter referred to as the "Regulations "; (c) carry out and complete the Project in accordance with the plans and specifications and property map, incorporated herein, as they may be revised or modified with the approval of the FAA. 3. The allowable costs of the project shall not include any costs determined by the FAA to be ineligible for consideration as to allowability under Section 152.47 (b) of the Regula- tions. 4. Payment of the United States share of the allowable project costs will be made pursuant to and in accordance with the provisions of Sections 152.65 — 152.71 of the Regulations. Final determination as to the allowability of the costs of the project will be made at the time of the final grant payment pursuant to Section 152.71 of the Regulations: Provided, that, in the event a semi -final grant payment is made pursuant to Section 152.71 of the Regulations, final determination as to the allowability of those costs to which such semi= final payment relates will be made at the time of such semi -final payment- FAA FORM 5100 -13 PG. 2 (7 -72) i SUPERSEDES PREVIOUS EDITION PAGE 2 t i i