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<br />k. review, approve and maintain record drawings. <br /> <br />PART V - Recitals <br /> <br />1. The State shall obtain an audit as required by federal or state regulations; and procure and <br />forward to the FAA such specific project documentation as is necessary to complete all <br />aspects of this project. <br /> <br />2. The Sponsor, and not the State, shall be the contractual party to all construction and <br />professional service contracts entered into for the accomplishment of this project. The <br />power of attorney, as granted by the Sponsor to the State in Part IV - Nomination of <br />Agent, is a limited power to perform acts in connection with airport improvements as <br />specified in or necessitated by this Agreement. <br /> <br />3. The Sponsor hereby agrees to pursue and enforce contract items which are required by <br />federal and/or state regulations, laws and orders to insure satisfactory performance of <br />contract vendors. Such items include, but are not limited to, bid bonds, payment bonds, <br />and ,performance bonds. Pursuit and enforcement of contract items may require litigation <br />and other remedies oflaw. <br /> <br />4. The United States and the State of Texas shall not be responsible or liable for damage to <br />property or injury to persons which may arise from, or be incident to, compliance with this <br />grant agreement. <br /> <br />5. This Agreement is executed for the sole benefit of the contracting parties and is not <br />intended or executed for the direct or incidental benefit of any third party. Furthermore, <br />the State shall not be a party to any other contract or commitment which the Sponsor may <br />enter into or assume, or have entered into or have assumed, in regard to the above project. <br /> <br />6. If the Sponsor fails to comply with the conditions of the grant, the State may, by written <br />notice to the Sponsor, suspend the grant in whole or in part. The notice of suspension <br />shall contain the following: <br /> <br />a. The reasons for the suspension and the corrective action <br />necessary to lift the suspension; <br /> <br />b. A date by which the corrective action must be taken; <br /> <br />Page 10 of 14 <br />