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<br />BAAQMD FY2007/2008 BFP Funding Agreement <br /> <br />NOW, THEREFORE, the parties agree as follows: <br /> <br />SECTION II <br />PROJECT SPONSOR OBLIGATIONS <br /> <br />1) Project Sponsor hereby agrees to implement the Project, as described more fully in Attachment <br />A, "Project Specific Information," and in Attachment B, "Project Description," both of which <br />attachments are annexed to this Agreement and made a part hereof by this reference. Failure to <br />implement the Project in accordance with the terms and conditions set forth in this Agreement <br />and all attachments thereto will be deemed a breach of this Agreement and may result in <br />termination of the Agreement. <br /> <br />2) Project Sponsor will complete the Project in accordance with the following conditions: <br /> <br />A. The Air District's funding obligation under this Agreement is limited to the "Total BFP <br />Funds Awarded," specified in Attachment A. Any Project cost overruns are the sole <br />responsibility of the Project Sponsor. <br /> <br />B. Only those allowable Project costs incurred following the date of execution of this <br />Agreement are eligible to receive BFP funds. Allowable Project costs are listed in the <br />"Bicycle Facility Program Grant Application Package for Fiscal Year 2007/2008." <br /> <br />C. Project Sponsor will contribute or expend all "Matching Funds," set forth in Attachment <br />A, required for the successful completion of the Project prior to submission of the Final <br />Invoice. In the event the specified "Matching Funds" are to be contributed by a third party <br />and Project Sponsor does not receive all such funds, the Air District reserves the right to <br />terminate this Agreement in whole or in part, to reduce the amount of the grant of "Total <br />BFP Funds A warded," or to renegotiate the terms and conditions of this Agreement, at its <br />sole discretion. <br /> <br />D. If before the end of the "Project Useful Life," set forth in Attachment B, Project Sponsor <br />removes any equipment or other property purchased, installed, or constructed with BFP <br />funds under this Agreement from service, Project Sponsor is in breach of this Agreement. <br /> <br />E. If during the "Project Useful Life," Project Sponsor sells any equipment or other property <br />purchased, installed, or constructed with BFP funds under this Agreement, Project <br />Sponsor will reimburse the Air District the total amount of BFP funds awarded within <br />thirty (30) days of the sale. <br /> <br />3) Project Sponsor will submit one (1) invoice to the Air District, upon completion of the Project, <br />for reimbursement of eligible Project costs and expenses consistent with the Total BFP Funds <br />Awarded, Invoice and Payment Schedule and the Project Schedule contained in Attachments A <br />and B, respectively, in a form acceptable to the Air District. Invoices will include a summary <br />sheet specifying the Project number; time period for the invoice; itemized staff charges to the <br />Project, if any; itemized payments to vendors, consultants, or contractors; and total funds being <br />requested. The invoice will also include detailed supporting documentation which will include <br />copies of time sheets documenting hourly labor costs incurred in the implementation of the <br />Project, copies of invoices from vendors, consultants, or contractors or an explanation of the <br />goods or services provided for the Project. Project Sponsor may establish an alternative <br />method, approved in advance by the Air District, to document staff costs charged to the Project. <br /> <br />BFP Project 07BFPl2 <br /> <br />Page 2 <br />