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• 3 <br /> 6.2 Fund Disbursements <br /> SOUND TRANSIT will disburse funds to EVERETT TRANSIT for the purposes <br /> specified in Exhibit 1 and in the amounts specified by EVERETT TRANSIT up to <br /> the maximum funding commitment of Section 6.1. Disbursements will be made <br /> by SOUND TRANSIT upon EVERETT TRANSIT's request and pursuant to the <br /> following procedure. EVERETT TRANSIT shall make a request by submitting in <br /> the form of an invoice a request for an amount up to the maximum disbursement <br /> for each funding category as specified in Exhibit 1. The request shall reference <br /> this Agreement by name and number. SOUND TRANSIT shall disburse <br /> EVERETT TRANSIT's share of any Regional project invoice(s), which <br /> EVERETT TRANSIT shall provide to SOUND TRANSIT within 5 days of <br /> EVERETT TRANSIT's receipt of a Draft Invoice from the Regional Project <br /> Team. EVERETT TRANSIT's request for a draw may be made by faxing or e- <br /> mailing an invoice to SOUND TRANSIT. <br /> SOUND TRANSIT will disburse the funds to EVERETT TRANSIT within 14 <br /> calendar days of receipt of EVERETT TRANSIT's invoice/draw request. SOUND <br /> TRANSIT shall not transfer nor be obligated to transfer any funds in excess of its <br /> commitment set forth in Exhibit 1. Upon request by Sound Transit, EVERETT <br /> Transit shall confirm compliance with all funding conditions in sections 5.2 and <br /> 5.3. <br /> 6.4 Audit. <br /> If an audit is requested by SOUND TRANSIT or required by any applicable <br /> federal agency requirements, EVERETT TRANSIT agrees to cooperate fully with <br /> SOUND TRANSIT's auditor or an independent auditor chosen and retained by <br /> SOUND TRANSIT for auditing costs incurred under this Agreement or with any <br /> audit required by the federal funding agency, if applicable. At the time of a <br /> federal audit, if required, EVERETT TRANSIT will provide documentation of all <br /> costs incurred on the project. In the event that SOUND TRANSIT has paid <br /> EVERETT TRANSIT in excess of SOUND TRANSIT's final funding <br /> commitment under this Agreement, the excess amount will be repaid to SOUND <br /> TRANSIT. <br /> 7. TERMINATION OF AGREEMENT <br /> 7.1 Conditions of Termination <br /> Either Party may terminate this Agreement, in whole or in part, in writing, if the <br /> other party substantially fails to fulfill any or all of its obligations under this <br /> Agreement through no fault of the other party, provided that insofar as practicable, <br /> the Party terminating the Agreement will give written notice of intent to terminate <br /> Fundng Assist Agmt ET ST March 06.doc <br /> 6 10 <br />