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2 . The PROJECT SPONSOR shall not commence work on the PROJECT prior to the execution of this Agreement unless specifically authorized by the DISTRICT . The PROJECT SPONSOR shall complete the PROJECT and submit all required payment reimbursement information within two (2) years following the date of Agreement approval, unless the PROJECT period has been extended with the prior written approval of the DISTRICT . In no event, however, shall the PROJECT period extend beyond three (3 ) years from the date of Agreement approval . Any request for a one-year extension of funding beyond the two-year expiration date set forth in this paragraph shall require submittal by the PROJECT SPONSOR of a written request for extension to the DISTRICT no later than three (3 ) months prior to the existing Agreement expiration date . 3 . FIND shall provide an amount not to exceed $7 , 500 . 00 for the components of the project set forth on the attached Exhibit "A" (with FIND paying the PROJECT SPONSOR up to seventy- five percent (75 %) of the amount actually expended for each component, up to the amount listed on Exhibit "A " for said component) which expenses shall also be in compliance with the District ' s policy for the Small- Scale Spoil Island Restoration and Enhancement program (Exhibit "B ") . 4 . The funds to be provided by FIND to the PROJECT SPONSOR hereunder will be paid within thirty ( 30) days of receipt by FIND of a request for payment reimbursement accompanied by supporting documentation showing expenditures equal or greater to the amount being sought from FIND . 5 . PROJECT SPONSOR shall , upon request by FIND , provide a report of final expenses incurred on the Project . The PROJECT SPONSOR shall also retain all records supporting costs of the Project for three (3 ) years after the end of the fiscal year in which the Project is completed, except that such records shall be retained by PROJECT SPONSOR until final resolution of matters resulting from any litigation, claim, or special audit that starts prior to the expiration of the three-year retention period.