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C. pay to the Sponsor, from 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 />Contracting Agent: <br />e. advertise for professional services for, but not limited to, the preparation of <br />appraisals and surveys for the above project; negotiate professional services fees; <br />and execute, on behalf of the Sponsor, services agreements as related to this <br />project; <br />f. administer Disadvantage Business Enterprises (DBE) and/or Historically <br />Underutilized Business (HUB) Programs in accordance with state regulations. <br />PART V - Recitals <br />1. The State and the Sponsor shall obtain an audit as required by federal or state regulations. <br />2. The Sponsor, and not the State, shall be the contractual party to all 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 />3. The Sponsor agrees to pursue and enforce contract items, which are required by federal <br />and/or state regulations, laws and orders to insure satisfactory performance of contract <br />vendors. Such items include, but are not limited to, bid bonds, payment bonds, and <br />performance bonds. Pursuit and enforcement of contract items may require litigation and <br />other remedies of law. <br />4 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 />. 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, which the Sponsor may <br />enter into or assume, or have entered into or have assumed, in regard to the above project. <br />b. If the Sponsor fails to comply with the conditions of the grant, the State may, by written <br />Page 8 of 31 <br />