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<br /> 29. Preserving Airport Rights and Powers. It will not enter into any transaction which would operate to deprive <br /> it of any of the rights and powers necessary to perform any or all of the assurances herein without the <br /> written approval of the Secretary, and will act to acquire, extinguish or modify any outstanding rights or <br /> claims of right of others which would interfere with such performance by the sponsor. This shall be done in <br /> a manner acceptable to the Secretary. <br /> It will not dispose of or encumber its title or other interests in the site and facilities during the period <br /> of Federal interest or while the Government holds bonds, whichever is the longer. The obligation to perform <br /> all such covenants may be assumed by another public agency found by the Secretary to be eligible under the <br /> act to assume such obligations and having the power, authority, and financial resources to carry out all such <br /> obligations. If an arrangement is made for management or operation of the airport by any agency or person <br /> other than the sponsor or an employee of the sponsor, the sponsor will reserve sufficient rights and <br /> authority to ensure that the airport will be operated and maintained in accordance with the act, the <br /> regulations, and these covenants. <br /> 30. Construction Accomplishment. It will execute the project in accordance with plans, specifications, and <br /> schedules as approved by the Secretary, and incorporated herein, or with modifications similarly approved, <br /> and will provide and maintain competent technical supervision at the construction site to assure that <br /> completed work conforms with the approved plans and specifications. <br /> 31. Revenue from Real Property. It agrees that all net revenue produced from real property purchased in part <br /> with Federal funds in this grant shall be used On the airport for airport planning, development, or operating <br /> expenses, except that all income from real property purchased for noise compatibility purposes or for future <br /> aeronautical use as indicated on Exhibit "A" for this grant shall be used only to fund projects which would <br /> be eligible for grants under the Airport and Airway Improvement Act of 1982. Income from noise or future use <br /> property may not be used for the sponsor's matching share of any airport grant. Airport fiscal and <br /> accounting records shall clearly identify actual sources and uses of these funds. <br /> FAA Form 5100-100 (11-82) Development, Inc 1. Land Page 10 <br />