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FLORIDA INLAND NAVIGATION DISTRICT PROJECT AGREEMENT PROJECT NO. IR -91-9 This PROJECT AGREEMENT made and entered into this la t day of October , 1991, by and between the Florida Inland Nayigation District • (hereinafter "FIND"), and Indian River County (hereinafter the "PROJECT SPONSOR"). In consideration of the mutual promises and covenants contained herein, the parties agree as follows: 1. Subject to the provisions of this Agreement and Rule 16T-2 of the Florida Administrative Code (Exhibit "A"), FIND has determined to provide assistance funding to the PROJECT SPONSOR in furtherance of en approved pro- ject ("PROJECT") consisting of Round Island Park improvements . Said project is more specifically described in the PROJECT SPONSOR'S Waterways Assistance Application which is on file at FIND headquarters. 2. The PROJECT SPONSOR shall not commence work on the PROJECT prior to the execution of this Agreement unless otherwise authorized and shall complete the PROJECT and submit all required payment reimbursement information on or before September 1, 1992, unless the PROJECT period has been extended with the prior written approval of FIND. In no event, however, shall the PROJECT period extend beyond three (3) years from the date of the execution of this Agreement. The PROJECT SPONSOR acknowledges there are no provisions to carry over FIND assistance funding under this Agreement beyond September 1, 1992. 3. FIND shall contribute no more than, fifty percent (50 X) of the PROJECT SPONSOR'S out-of-pocket costs for completion of this PROJECT ("PROJECT AMOUNT"). (NOTE: FIND is statutorily authorized to fund up to one hundred percent (100X) of the financial assistance an4 support for public navigation? law enforcement, and environmental1educationlprojects; all other projects' shall require matching funds from the Sponsor.) Payment of funds by FIND to the PROJECT SPONSOR (THE "ASSISTANCE AMOUNT") will be on a reimbursement basis only for those authorized costs as shown in Exhibit B and meeting the require- ments of Paragraph 5 below and shall not, in any event, exceed $ 130 000.00 . 4.'' The PROJECT SPONSOR warrants and represents that it has the PROJECT SPONSOR Match Amount (the PROJECT AMOUNT less the ASSISTANCE AMOUNT) available 4 N N t.0