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7 / 7 a7 INDIAN RIVER COUNTY, FLORIDA GRANT AGREEMENT NO, FWC- 06720 THIS AGREEMENT made and entered into on the �_ day of �4 , 2007 , by and between Florida Institute of Technology ame 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 NEARSHORE REEF MONITORING PROJECT ATTACHMENT A — SCOPE OF SERVICES GRANT AGREEMENT NO. FWC-06720 for Indian River County, Florida and shall do everything required by this Agreement and Contract Documents. Article 2. COMMENCEMENT AND COMPLETION & DAMAGES : As time is of the essence, the Contractor will be required to commence work immediately after receipt of the notice-to-proceed and shall complete the project before December 23, 2008 Article 3. THE CONTRACT SUM : In accordance with the Fee Schedule appended as Attachment B, The County will pay the Contractor for performance of the Contract, subject to additions and deductions provided therein, in current funds as follows: Numerical Amount $250.000. 00 Written Amount Two Hundred Fifty Thousand Dollars Article 4, ACCEPTANCE AND PAYMENT: Contactor may make application for progress payments at no less than monthly intervals. Progress payments will be subject to 10% retainage. Invoices shall be accompanied by all monthly activity reports and status reports as required in the scope of services attached as Attachment A. Upon submittal of final report, contractor may make application for final payment 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 the work 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 evidence satisfactory to the County Project Manager that all payrolls, material bills, and other indebtedness connected CONTRACT