Sec. 151.31 - Procedures: Grant agreement.
(a) An offer by the Administrator, and
acceptance by the sponsor, as set forth in §151.29, constitute a grant
agreement between the sponsor and the United States. Except as provided in
§151.41(c)(3), the United States does not pay, and is not obligated to
pay, any part of the project costs that have been or may be incurred,
before the grant agreement is executed.
(b) The Administrator and the sponsor
may agree to a change in a grant agreement if --
(1) The change does not increase the
maximum obligation of the United States under the grant agreement by more
than 10 percent;
(2) The change provides only for airport
development that meets the requirements of subparts B and C; and
(3) The change does not prejudice the
interests of the United States.
(c) When a change is agreed to, the
Administrator issues a supplemental agreement incorporating the change.
The sponsor must accept the supplemental agreement in the manner provided
[Doc. No. 1329, 27 FR 12351, Dec. 13, 1962, as
amended by Amdt. 151-8, 30 FR 8040, June 23, 1965]