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<br /> Page 2 of 5 Pages <br /> NOW THEREFORE, pursuant to and for the purpose of carrying out the <br /> provisions of the Airport and Airway Improvement Act of 1982, as amended <br /> by the Airport and Airway Safety and Capacity Expansion Act of 1987, <br /> herein called the IIAct,1I and/or the Aviation safety and Noise Abatement <br /> Act of 1979, and in consideration of (a) the Sponsor's adoption and <br /> ratification of the representations and assurances contained in said <br /> Project Application and its acceptance of this Offer as hereinafter <br /> provided, and (b) the benefits to accrue to the united states and the <br /> public from the accomplishment of the Project and compliance with the <br /> assurances and conditions as herein provided, THE FEDERAL AVIATION <br /> ADMINISTRATION, FOR AND ON BEHALF OF THE UNITED STATES, HEREBY OFFERS AND <br /> AGREES to pay, as the United States share of the allowable costs incurred <br /> in accomplishing the project, ninety percentum of all allowable project <br /> costs. <br /> This Offer is made on and subject to the following terms and conditions: <br /> Conditions <br /> 1. The maximum obligation of the united States payable under this offer <br /> shall be $1,233,467. <br /> 2. The allowable costs of the project shall not include any costs <br /> determined by the FAA to be ineligible for consideration as to <br /> allowability under the Act. <br /> 3. Payment of the United States share of the allowable project costs <br /> will be made pursuant to and' in accordance with the provisions of <br /> such regulations and procedures as the Secretary shall prescribe. <br /> Final determination of the united States share will be based upon the <br /> final audit of the total amount of allowable project costs and <br /> settlement will be made for any upward or downward adjustments to the <br /> Federal share of costs. <br /> 4. The sponsor shall carry out and complete the project without undue <br /> delays and in accordance with there terms hereof, and such <br /> regulations and procedures as the Secretary shall prescribe, and <br /> agrees to comply with the assurances which were made part of the <br /> project application. <br /> 5. The FAA reserves the right to amend or withdraw this offer at any <br /> time prior to its acceptance by the sponsor. <br /> 6. This offer shall expire and the United States shall not be obligated <br /> to pay any part of the costs of the project unless this offer has <br /> been accepted by the sponsor on or before September 30, 1990, or such <br /> subsequent date as may be prescribed in writing by the FAA. <br /> FAA Form 5100-37 (2/88) Development or Noise Program <br />