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<br />. . <br /> - 7-/3£ <br /> PART 111- Nomination of the Agent <br />1. The Sponsor hereby designates the State as the party to receive and disburse all <br /> funds used, or to be used, in payment of the costs of said project, or in <br /> reimbursement to either of the parties hereto for costs incurred. <br />2. The State shall, for all purposes in connection with the project identified above, be <br /> the Agent of the Sponsor. The Sponsor herewith grants the State a power of <br /> attorney to act as its agent to perform the following services: <br /> a. accept, receive, and deposit with the State any and all project funds granted, <br /> allowed, and paid or made available by the Sponsor, the State of Texas, or <br /> any other entity; <br /> b. exercise such supervision and direction of the project work as the State <br /> reàsonably finds appropriate. Where there is an irreconcilable conflict or <br /> difference of opinion, judgment, order or direction between the State and the <br /> Sponsor, and any service provider the State shall issue a written order which <br /> shall prevail and be controlling; <br /> c. receive, review, approve and pay invoices and payment requests for <br /> services and materials supplied in accordance with the State approved <br /> contracts; <br /> d. obtain an audit as may be required by state regulations; <br />3. Upon entering into this Grant, Sponsor hereby agrees to name an individual, as the <br /> Sponsor's Authorized Representative, who shall be the State's contact with regard <br /> to this project, and which individual shall have the authority to make approvals and <br /> disapprovals, and coordinate schedule for work items as required on behalf of the <br /> Sponsor. <br />4. This Grant 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. <br /> Furthermore, the State shall not be a party to any other contract or commitment <br /> which the Sponsor may enter into or assume, or have entered into or have <br /> assumed, in regard to the above project. <br />5. It is the intent of this grant: to not supplant local funds normally utilized for airport <br /> maintenance; and that any state financial assistance offered under this grant be in <br /> addition to those local funds normally dedicated for airport maintenance. <br /> Page 6 of 10 <br /> . <br />