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k. review, approve and maintain record drawings. <br /> <br />PART V - Recitals <br /> <br />The State and Sponsor shall obtain an audit as required by federal or state regulations. <br /> <br />The Sponsor, and not the State, shall be the contractual party to ali 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 />The Sponsor agrees to pursue and enforce contract items, which are required by federal <br />and/or state regulations, laws and orders to insure salisfactory performance of contract <br />vendors. Such items include, but are not limited to, bid bonds, payment bonds, and <br />performance bonds. Pursuit and enfomement of contract items may require litigation and <br />other remedies of law. <br /> <br />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 incidental to, compliance with <br />this grant agreement. <br /> <br />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, ~vhich the Sponsor <br />may enter into or assume, or have entered into or have assumed, in regard to the above <br />project. <br /> <br />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 />The reasons for the suspension and the corrective action necessary to lift the <br />suspension; <br /> <br />b. A date by which the corrective action must be taken; <br /> <br />Notification that consideration will be given to terminating the grant after the <br />corrective action date. <br /> <br />In the case of suspension or termination, the Sponsor may request the State to reconsider <br />the suspension or termination. Such request for reconsideration shall be made within 45 <br /> <br /> 9 of 26 <br /> <br /> <br />