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C o , INDIAN RIVER COUNTY, FLORIDA GRANT AGREEMENT NO , FWC - 04027 THIS AGREEMENT made and entered into on the 7th day of June , 2005 , by and between Florida Institute of Technology herein after called the Contractor, and INDIAN RIVER COUNTY , a Political Subdivision of the State of Florida organized and existing under the Laws of the State of Florida , hereinafter called the County . WITNESSED : That the Contractor and the County , for the consideration hereinafter named , agree as follows : Article 1 . SCOPE OF WORK : The Contractor shall furnish all labor , services , equipment and perform all the work described in the Specifications entitled : INDIAN RIVER COUNTY 2005 MONITORING PROJECT ATTACHMENT A — SCOPE OF SERVICES GRANT AGREEMENT NO . FWC -04027 for Indian River County , Florida and shall do everything required by this Ag weement and Contract Documents . Payment shall be made in accordance with the Itemized Fee Schedule attached as Exhibit " B " and made a part of this agreement . Article 2 . COMMENCEMENT AND COMPLETION & DAMAGES : As time is of the essence , the Contractor will be required to commence wo k immediately after receipt of the notice-to- proceed and shall complete the project before December 23 , 2005 Article 3 . THE CONTRACT SUM : The County will pay the Contractor for pert rmance of the Contract , subject to additions and deductions provided therein , in current funds as follows : Numerical Amount $ 19 , 245 . 00 Written Amount Nineteen Thousand Two Hundred Forty Five Article 4 . ACCEPTANCE AND PAYMENT : Contactor may make application for two progress payments in the amount of $ 6 , 415 . 00 on June 30 and September 30 , 2005 . Progress payments will be subject to 10 % retainage . Upon submittal of final report , c ntractor may make application for final payment in the amount of $ 6 , 415 . 00 and release of retainage . Upon receipt of final report , the County Project Manager will review the report , and when he finds the work acceptable under the terms of the Contract and the Contract fully performed , he will promptly issue a final certificate , over his own signature , stating that thework provided for in this Contract has been completed , and acceptable under the terms and the conditions thereof. Withheld retainage will be paid to the Contractor by the County following County Commission approval of the final Contract payment . Before issuance of a final certificate , the contractor shall submit evidencesatisfactory to the County Project Manager that all payrolls , material bills , and other indebtedr ess connected with the work have been paid . The making and acceptance of the final paymen shall constitute a CONTRACT 1