2003-09-08 Regular Meeting, Public Hearing and Workshop Meeting

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the fOllowin'emedi.es: (1) require a refund of any.ney expended pursuant to the Agreement, (2) deny Sponsor's future requests for aid, (3) request the Attorney General to bring suit seeking reimbursement of any money expended on the project pursuant to the Agreement, provided however, these remedies shall not limit the State's authority to enforce its rules, regulations or orders as otherwise proyided by law, (4) declare this Agreement null and yoid, or (5) any other remedy ayailable at law or in equity. b. Venue for resolution by a court of competent jurisdiction of any dispute arising under the terms of this Agreement, or for enforcement of any of the proyisions of this Agreement, is spe~ifically set by Agreement of the parties in Trayis County, Texas. 8. The State reserves the right to amend or withdraw this Agreement at any time prior to acceptance by the Sponsor. The acceptance period cannot be greater than 30 days after issuance unless extended by the State, which extension shall not be unreasonably denied or delayed. 9. This Agreement constitutes the full and total understanding of the parties concerning their rights and responsibilities in regard to this project and shall not be modified, amended, rescinded or revoked unless such modification, amendment, rescission or reyocation is agreed to by both parties in writing and executed by both parties. 10. All commitnients by the Sponsor and the State are subject to constitutional and statutory limitations and restrictions binding upon the Sponsor.and the State (including ~~ 5. and 7 of Article 11 of the Texas Con.stitution, if applicable) and to the ayailability of funds. which lawfully may be applied. : 11. The Sponsor's acceptance of this Agreement and ratification and adoption of the Airport Project Participation Agreement shall be eyidenced by execution of this instrument by the Sponsor. This Offer and Acceptance shall comprise a Grant Agreement, as proyided by the Title 49 U.S.C., constituting the contractual obligations and rights of the United States, the State of Texas and the Sponsor with respect to the accomplishment of the Project and cornpliance with the assurances and conditions as provided. 12. The state auditor may conduct an audit or inyestigation of any entity receiying funds from the state directly under the contrac.t or indirectly through a subcontract under the contract. . Acceptance of fuilds directly under the contract or indirectly through a subcontract" under. this contract acts as acceptance of the authority of the state auditor, under the direction of . the legislatiye audit committee, to conduct an audit or inyestigation in connection with those funds. Page 10 of25