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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 15 of 44 V.9-1-23 <br />