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<br /> Part IV- Nomination of the Agent <br /> 1. The Sponsor hereby designates the State as the party to apply for, receive and disburse all <br /> funds used, or to be used, in payment of the costs of said project, or in reimbursement to <br /> either of the parties hereto for costs incurred. <br /> 2. The State agrees to assume the responsibility to assure that all aspects of the grant and <br /> project are done in compliance with all applicable state and federal requirements including <br /> any statutes, rules, regulations, assurances, procedures or any other directives, except as <br /> otherwise specifically provided herein. <br /> 3. The State shall, for all purposes in connection with the project identified above, be the <br /> Agent of the Sponsor. The Sponsor herewith grants the State a power of attorney to act <br /> as its agent to perform the following services: <br /> Receiving Disbursing Agent: <br /> a. apply for, accept, receive, and deposit with the State Treasury any and all project <br /> funds granted, allowed, and paid or made available by the State and/or the United <br /> States under Title 49 U.S.C. and congressional appropriation made pursuant <br /> thereto, and the Sponsor; <br /> b. receive, review, approve and process Sponsor's reimbursement requests for <br /> approved project costs; and <br /> c. pay to the Sponsor, ITom granted funds, the portion of any approved reasonable <br /> and eligible project costs incurred by the Sponsor that are in excess of the <br /> Sponsor's share. <br /> Paying Agent: <br /> d. receive, review, approve and pay invoices and payment requests for services and <br /> materials supplied in accordance with State executed contracts; <br /> e. when applicable; receive, review and approve reimbursement reqijests for <br /> reasonable and eligible property acquisition costs incurred by the Sponsor, <br /> provided the required documentation is supplied. <br /> Contracting Agent: <br /> f negotiate professional services fees; and execute, on behalf of the Sponsor, a <br /> professional services agreement as related to this project; <br /> g. administer Disadvantage Business Enterprises (DBE) and/or Historically <br /> Page 9 of 14 <br />