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13 <br /> FLORIDA INLAND NAVIGATION DISTRICT <br /> PROJECT AGREEMENT <br /> 1 <br /> PROJECT NO . IR42-53 <br /> This PROJECT AGREEMENT made and entered into this 13th . day of <br /> November 2012 by and between the Florida Inland Navigation District <br /> (hereinafter the "DISTRICT") , and the Indian River County, (hereinafter the "PROJECT <br /> SPONSOR") . <br /> In consideration of the mutual promises and covenants contained herein, the parties agree as <br /> follows : <br /> L PROJECT - Subject to the provisions of this Agreement and Rule 66B-2 of the <br /> Florida Administrative Code (Exhibit "B "), the DISTRICT has determined to provide assistance <br /> funding to the PROJECT SPONSOR in furtherance of an approved project ( "PROJECT " ) <br /> consisting of the Lagoon Greenway — Phase B -2 . Said project is more specifically described in the <br /> PROJECT SPONSOR'S Waterways Assistance Application, which is on file at DISTRICT <br /> headquarters . <br /> Any modifications to the PROJECT' S scope of work shall require written advance notice <br /> and justification from the PROJECT SPONSOR and the prior written approval of the DISTRICT. <br /> 2. TERM - The PROJECT SPONSOR shall not commence work on the PROJECT <br /> prior to the execution of this Agreement unless specifically authorized by the DISTRICT Board and <br /> shall complete the PROJECT and submit all required payment reimbursement information <br /> on or before September 1, 2014, unless the PROJECT period has been extended with the prior <br /> written approval of the DISTRICT. In no event other than a declared state of emergency that affects <br /> the project completion shall the PROJECT period extend beyond three (3 ) years from October 1 , <br /> 2012 . The PROJECT SPONSOR acknowledges this is the only provision to carry over the <br /> DISTRICT assistance funding under this Agreement beyond September 30, 2015 , and that any <br /> extension of funding beyond this date shall be at the sole discretion of the DISTRICT. <br /> Any request for extension of funding beyond the dates set forth in the preceding paragraph <br /> shall require submittal by the PROJECT SPONSOR of a request for extension to the DISTRICT no <br /> later than 60 days prior to the original project agreement expiration. This request will then <br /> be <br /> considered by the DISTRICT Board, whose decision shall be final . <br /> 1 <br />