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CONTRACT IJ� � INDIAN RIVER COUNTY, FLORIDA Q 0 GRANT AGREEMENT NO . FWC - 02105 (� THIS AGREEMENT made and entered into on the 18th day of March , 2003 , by and between Florida Institute of Technology herein after called the Contractor, and INDIAN RIVER COUNTY , a Political Subdivision of the State of Florida organized and existing under the Laws of the State of Florida , hereinafter called the County . WITNESSED : That the Contractor and the County , for the consideration hereinafter named , agree as follows : Article 1 . SCOPE OF WORK : The Contractor shall furnish all labor, services , equipment and perform all the work described in the Specifications entitled : INDIAN RIVER COUNTY ARTIFICIAL REEF MONITORING PROJECT YEAR 3 ATTACHMENT A - SCOPE OF SERVICES GRANT AGREEMENT NO . FWC -02105 for Indian River County , Florida and shall do everything required by this Agreement and Contract Documents . Payment shall be made in accordance with the It ized Fee Schedule attached as Exhibit " B " and made a part of this agreement . Article 2 . COMMENCEMENT AND COMPLETION - %03* - As time is of the essence , the Contractor will be required to commence work immediately after receipt of the notice-to- proceed and shall complete the project before July 15 , 2003 . Article 3 . THE CONTRACT SUM : The County will pay the Contractor for performance of the Contract , subject to additions and deductions provided therein,, in current funds as follows : Numerical Amount $ 13 , 500 Written Amount Thirteen Thorand, Five Hundred Article 4. ACCEPTANCE AND PAYMENT : Upon receipt of written notice that the work is ready for final inspection and acceptance , the County Project Manager will promptly make such inspection and when he finds the work acceptable under the terms of the Contract and the Contract fully performed , he will promptly issue a final certificate , over his own signature , stating that the work provided for in this Contract has been completed , and acceptance by him under the terms and the conditions thereof is recommended and the entire balance found to be due the Contractor, will be paid to the Contractor by the County following County Commission approval of the final Contract payment . Before issuance of a final certificate , the contractor shall submit evidence satisfactory to the County Project Manager that all payrolls , material bills , and other indebtedness connected with the work have been paid . The making and acceptance of the final payment shall constitute a waiver of all claims by the County , other than those arising from unsettled liens , from faulty CONTRACT 1