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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rescinded or revoked unless such modification, amendment, rescission or revocation is 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 are subject to constitutional and statutory <br />limitations and restrictions binding upon the Sponsor and the State (including §§ 5 and 7 <br />of Article 11 of the Texas Constitution, if applicable) and to the availability of funds <br />which lawfully may be applied. <br />11. The Sponsor's acceptance of this Agreement and ratification and adoption of the Airport <br />Project Participation Agreement shall be evidenced by execution of this instrument by the <br />Sponsor. This Offer and Acceptance shall comprise a Grant Agreement, as provided by <br />the Title 49 U.S.C., constituting the contractual obligations and rights of the United States, <br />the State of Texas and the Sponsor with respect to the accomplishment of the Project and <br />compliance with the assurances and conditions as provided. <br />12. The state auditor may conduct an audit or investigation of any entity receiving funds from <br />the state directly under the contract or indirectly through a subcontract under the contract. <br />Acceptance of funds directly under the contract or indirectly through a subcontract under <br />this contract acts as acceptance of the authority of the state auditor, under the direction of <br />the legislative audit committee, to conduct an audit or investigation in connection with <br />those funds. An entity that is the subject of an audit or investigation must provide the <br />state auditor with access to any information the state auditor considers relevant to the <br />investigation or audit. <br />Page 10 of 31 <br />