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3 <br /> may be used by the recipient as local match for new and additional outside <br /> grant funding as allowed by those sources. <br /> 5.3.2 Any excess funds from project cost savings or unused contingency <br /> will be used to offset SOUND TRANSIT Fare Integration program support <br /> funding, unless otherwise agreed to by SOUND TRANSIT. <br /> 5.3.3 EVERETT TRANSIT agrees to make every effort, in conjunction <br /> with SOUND TRANSIT and other partners, to secure additional external <br /> funding for the Smart Card project. Additional funds will be used to offset <br /> SOUND TRANSIT's funding support, unless otherwise agreed to by <br /> SOUND TRANSIT. <br /> 5.3.4 Any factor unrelated to SOUND TRANSIT's own participation in <br /> the Smart Card project which results in a decreased funding need (e.g. <br /> inclusion of an additional agency, reduction in regional costs, reduction in <br /> individual agency costs, etc.) will reduce, dollar-for-dollar, SOUND <br /> TRANSIT's additional support funding, unless otherwise agreed to by <br /> SOUND TRANSIT. <br /> 5.3.5 Any factor that results in an increased funding need (e.g. loss of <br /> individual agency funds, withdrawal of another agency, regional or <br /> specific agency project cost overruns, etc.) will not increase SOUND <br /> TRANSIT's support funding commitment to EVERETT TRANSIT. <br /> 5.3.6 Should EVERETT TRANSIT withdraw from the Smart Card <br /> project: <br /> • SOUND TRANSIT will not be responsible for any withdrawal <br /> costs; <br /> • SOUND TRANSIT will not provide additional support funding <br /> to any other agency whose costs increase as a result of the <br /> withdrawal; and <br /> • SOUND TRANSIT will be reimbursed for all project support <br /> funds paid from the Fare Integration program on behalf of <br /> EVERETT TRANSIT prior to its withdrawal. <br /> 5.3.7 SOUND TRANSIT is under no obligation to provide financial <br /> support to any new partner agencies to the project. <br /> 6. FUNDING,BUDGET, PAYMENT PROCEDURE <br /> 6.1 SOUND TRANSIT's Maximum Funding Obligation <br /> Subject to the terms and conditions set forth herein, SOUND TRANSIT's <br /> maximum funding.obligation under this Agreement shall be This Seven Hundred <br /> Ninety Two Thousand, Four Hundred Thirty Five Dollars ($792,435) in direct <br /> funding support. SOUND TRANSIT shall not be obligated for any expenditure in <br /> excess of the maximum amount stated in this section, unless authorization is <br /> received from its Board of Directors and a Supplement to this Agreement is <br /> executed upon such terms and conditions as approved by the Board. <br /> 9 Fundng Assist Agmt ET ST March 06.doc <br /> 5 <br />