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a , <br /> 6J)7 <br /> FLORIDA INLAND NAVIGATION DISTRICT A Q / 0 ' 4 70 <br /> PROJECT AGREEMENT <br /> PROJECT NO . IR- 10 -47 <br /> This PROJECT AGREEMENT made and entered into this 2nd day of <br /> November 2010 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 /> 1 . PROJECT - Subject to the provisions of this Agreement and Rule 6613 -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 . Said project is more specifically described in the PROJECT <br /> SPONSOR' S Waterways Assistance Application, which is on file at DISTRICT headquarters . <br /> Any modifications to the PROJECT shall require written advance notice and justification <br /> 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 , 2012 , 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 /> 2010 . The PROJECT SPONSOR acknowledges this is the only provision to carry over the <br /> DISTRICT assistance funding under this Agreement beyond September 30 , 2013 , 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 be <br /> considered by the DISTRICT Board, whose decision shall be final . <br /> 1 <br />