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<br /> issuance unless extended by the State, which extension shall not be unreasonably be denied <br /> or delayed. <br /> 9. This Agreement constitutes the full and total understanding of the parties concerning their <br /> rights and responsibilities in regard to this project and shall not be modified, amended, <br /> rescinded or revoked unless such modification, amendment, rescission or revocation is <br /> agreed to by both parties in writing and executed by both parties. <br /> 10. All commitments by the Sponsor and the State hereunder are subject to constitutional and <br /> statutory limitations and restrictions binding upon the Sponsor and the State (including §§ <br /> 5 and 7 of Article 11 of the Texas Constitution, if applicable) and to the availability of <br /> funds which lawfully may be applied. <br /> 11. The Sponsor's acceptance of this Agreement and ratification an~ adoption of the Airport <br /> Project Participation Agreement incorporated herein shall be evidenced by execution of <br /> this instrument by the Sponsor, as hereinafter provided, and this Offer and Acceptance <br /> shall comprise a Grant Agreement, as provided by the Title 49 U.S.C., constituting the <br /> contractual obligations and rights of the United States, the State of Texas and the Sponsor <br /> with respect to the accomplishment of the Project and compliance with the assurances and <br /> conditions as provided herein. Such Grant Agreement shall become effective upon the <br /> State's written Notice to Proceed issued following execution of this agreement. <br /> 12. This contract is subject to the approval as to form by the Attorney General of the State of <br /> Texas. <br /> Page 12 of 14 <br />