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<br /> - :Jf36 <br />3. Sponsor, by accepting this Grant certifies and, upon request, shall furnish proof to <br /> the State that it has sufficient funds to meet its share of the costs as heretofore <br /> stated. The Sponsor hereby grants to the State the right to audit any books and <br /> records of the Sponsor to verify said funds. In addition, the Sponsor shall disclose <br /> the source of all funds for the project and its ability to finance the project. <br /> Upon execution of this Agreement and written demand by the State, the Sponsor's <br /> financial obligation (Amount C) shall be due in cash and payable in full to the State. <br /> State may request the Sponsor's financial obligation in partial payments. Should <br /> the Sponsor fail to pay said obligation, either in whole or in part, within 30 days of <br /> written demand, the State may exercise its rights under Paragraph 111-5 hereof. <br /> Likewise, should the State be unwilling or unable to pay its obligation in a timely <br /> manner, the failure to pay shall be considered a breach and the Sponsor may <br /> exercise any rights and remedies it has at law or equity. <br /> The State will not participate in funding for force account work conducted by the <br /> Sponsor. <br /> The State shall reimburse or credit the Sponsor, at the financial closure of the <br /> project, any excess funds provided by the Sponsor which exceed Sponsor's share <br /> (Amount c). . <br />4. The Sponsor specifically agrees that it shall pay any project costs which exceed the <br /> amount of financial participation agreed to by the State. It is further agreed that the <br /> Sponsor will reimburse the State for any payment or payments made hereunder by <br /> the State which are in excess of the percentage of financial assistance (Amount B) <br /> as heretofore stated in Paragraph 11-2. <br />5. Upon satisfaction of the conditions specified in Paragraph 11-1 above, this Grant <br /> shall terminate. The term of this grant m.ay be extended by the execution of an <br /> Amendment to the Agreement. <br />6. In accepting this Grant, the Sponsor guarantees that: <br /> a. it will, in the operation of the facility, comply with all applicable state and <br /> federal laws, rules, regulations, procedures, covenants and assurances <br /> required by the State in connection with this Grant; and <br /> b. the Airport or navigational facility which is the subject of this Grant shall be <br /> controlled for a period of at least 20 years; and <br /> Page 3 of 10 <br />