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10. All commitments by the Sponsor and the State are subject to constitutional and statutory <br />limitations and restrictions binding upon the Sponsor and the State (including §§5 and 7 <br />of Article 11 of the Texas Constitution, if applicable) and to the availability of funds <br />which lawfully may be applied. <br />11. The Sponsor's acceptance of this Agreement and ratification and adoption of the Airport <br />Project Participation Agreement shall be evidenced by execution of this instrument by the <br />Sponsor. This Offer and Acceptance shall comprise a Grant Agreement, as provided by <br />the Title 49 U.S.C., constituting the contractual obligations and rights of the United <br />States, the State of Texas and the Sponsor with respect to the accomplishment of the <br />Project and compliance with the assurances and conditions as provided. <br />12. The state auditor may conduct an audit or investigation of any entity receiving funds <br />from the state directly under the contract or indirectly through a subcontract under the <br />contract. Acceptance of funds directly under the contract or indirectly through a <br />subcontract under this contract acts as acceptance of the authority of the state auditor, <br />under the direction of the legislative audit committee, to conduct an audit or <br />investigation in connection with those funds. An entity that is the subject of an audit or <br />investigation must provide the state auditor with access to any information the state <br />auditor considers relevant to the investigation or audit. <br />13. Termination <br />This agreement may be terminated in the following manner: <br />♦ by mutual written agreement and consent of both parties; <br />® by either party upon the failure of the other party to fulfill the obligations set forth <br />herein; <br />® by the State if it determines that the performance of the Project is not in the best <br />interest of the State. <br />If the contract is terminated in accordance with the above provisions, the Sponsor will <br />be responsible for the payment of Project costs incurred by the State on behalf of the <br />Sponsor up to the time of termination. <br />A. In the event the State determines that additional funding is required by the Sponsor at <br />any time during the development of the Project, the State will notify the Sponsor in <br />writing. The Sponsor will make payment to the State within thirty (30) days from <br />receipt of the State's written notification. <br />B. Upon completion of the Project, the State will perform an audit of the Project costs. <br />Any funds due to the Sponsor, the State, or the Federal Government will be promptly <br />paid by the owing party. <br />C. In the event the Project is not completed, the State may seek reimbursement from the <br />Sponsor of the expended funds. The Sponsor will remit the required funds to the State <br />within sixty (60) days from receipt of the State's notification. <br />D. The State will not pay interest on any funds provided by the Sponsor. <br />E. The State will not execute the contract for the construction of the Project until the <br />required funding has been made available by the Sponsor in accordance with this <br />Agreement. <br />Page 14 of 39 <br />