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Contractor, not when the construction work is complete . All project cost records and <br /> accounts shall be subject to audit by a representative of the PARTICIPANT for a <br /> period of three (3) years afterfinal close out of the PROJECT. The PARTICIPANTwill <br /> be notified of the final cost. The parties agree that in the event the final accounting of <br /> total PROJECT costs pursuant to the terms of this Agreement is less than the total <br /> deposits to date, a refund of the excess will be made by the DEPARTMENT to the <br /> PARTICIPANT. If the final accounting is not performed within three hundred and sixty <br /> (360) calendar days , the PARTICIPANT is not relieved from its obligation to pay. <br /> E. In the event said final accounting of total PROJECT costs is greater than the total <br /> deposits to date, the PARTICIPANT will pay the additional amount within forty (40) <br /> calendar days from the date of the invoice from the DEPARTMENT. The <br /> PARTICIPANT agrees to pay interest at a rate as established pursuant to Section <br /> 55 . 03 , F . S . , on any invoice not paid with the forty (40) calendar days until the invoice is <br /> paid . <br /> F . The payment of funds under this Locally Funded Agreement will be made directly to <br /> the Department of Financial Services , Division of Treasury for deposit and as provided <br /> in the attached Memorandum of Agreement ( MOA) between the PARTICIPANT, <br /> DEPARTMENT, and the State of Florida , Department of Financial Services , Division of <br /> Treasury, a copy of which is attached hereto as Exhibit 'E' . <br /> The MOA is a benefit to both the DEPARTMENT and the PARTICIPANT. Interest <br /> earned will be applied to any additional costs of the PARTICIPANT. Any unused funds, <br /> including interest, will be provided to the PARTICIPANT after the final accounting of the <br /> PROJECT has been performed . <br /> 5 . The PARTICIPANT will comply with the Federal and State Audit provisions and the Single Audit <br /> Compliance Requirements set forth in Exhibit "C" and Exhibit "D", respectively which are <br /> attached hereto and made part of this Agreement. <br /> 6 . In the event it becomes necessary for either party to institute suit for the enforcement of the <br /> provisions of this Agreement, each party shall be responsible to pay their own attorney fees and <br /> court costs . <br /> 7 . This AGREEMENT and any interest herein shall not be assigned , transferred or otherwise <br /> encumbered by the PARTICIPANT under any circumstances without the priorwritten consent of <br /> the DEPARTMENT. However, this AGREEMENT' shall- run- -#o the--DEPARTMENT and its - - <br /> successors . <br /> 8 . Except as otherwise set forth herein , this AGREEMENT shall continue in effect and be binding <br /> to both the PARTICIPANT and the DEPARTMENT until the PROJECT is completed as <br /> evidenced by the written acceptance of the DEPARTMENT, or December 30, 2015 whichever <br /> occurs first. <br /> 9 . The PARTICIPANT warrants that it has not employed or obtained any company or person , <br /> other than bona fide employees of the PARTICIPANT, to solicit or secure this AGREEMENT, <br /> and it has not paid or agreed to pay any company, corporation , individual or firm , other than a <br />