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<br />Page 2 of 4 <br /> <br />Pages <br /> <br />NOW THEREFORE, pursuant to and for the purpose of carrying out the provisions <br />of the Airport and Airway Improvement Act of 1982, as amended by the Airport <br />and Airway Safety and Capacity Expansion Act of 1987, herein called the <br />"Act," and/or the Aviation Safety and Noise Abatement Act of 1979, and in <br />consideration of (a) the Sponsor's adoption and ratification of the <br />representations and assurances contained in said Project Applioation and its <br />acceptance of this Offer as hereinafter provided, and (b) the benefits to <br />accrue to the United States and the public from the accomplishment of the <br />Project and compliance with the assurances and conditions as herein provided, <br />THE FEDERAL AVIATION ADMINISTRATION, FOR AND ON BEHALF OF THE UNITED STATES, <br />HEREBY OFFERS AND AGREES to pay, as the United States share of the allowable <br />costs incurred in accomplishing the Project, ninety percentum of all allowable <br />project costs. <br /> <br />This Offer is made on and subject to the following terms and conditions: <br /> <br />Conditions <br /> <br />1. <br /> <br />The maximum obligation of the United States payable under this offer <br />shall be $250,000. <br /> <br />2. <br /> <br />The allowable costs of the project shall not include any costs determined <br />by the FAA to be ineligible for consideration as to allowability under <br />the Act. <br /> <br />3. <br /> <br />Payment of the United States share of the allowable project costs will be <br />made pursuant to and in accordance with the provisions of such <br />regulations and procedures as the Secretary shall prescribe. Final <br />determination of the United States share will be based upon the final <br />audit of the total amount of allowable project costs and settlement will <br />be made for any upward or downward adjustments to the Federal share of <br />costs. <br /> <br />4. <br /> <br />The sponsor shall carry out and complete the Project without undue delays <br />and in accordance with the terms hereof, and such regulations and <br />procedures as the Secretary shall prescribe, and agrees to comply with <br />the assurances which were made part of the project application. <br /> <br />5. <br /> <br />The FAA reserves the right to amend or withdraw this offer at any time <br />prior ~o its acceptance by the sponsor. <br /> <br />6. <br /> <br />This offer shall expire and the United States shall not be obligated to <br />pay any part of the costs of the project unless this offer has been <br />accepted by the sponsor on or before September 30,1988 or such <br />subsequent date as may be prescribed in writing by the FAA. <br /> <br />FAA Form 5100-37 (2/88) Development or Noise Program <br />