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($19,500,000.00). The parties acknowledge and agree that, in accordance with the terms of the <br />REFG, Norfolk shall be responsible for paying for all work and costs involved in the Project and <br />that the REFG is anticipated to fund an estimated seventy percent (70 %) of the cost by <br />reimbursing Norfolk for seventy percent (70 %) of all Eligible Project Costs. The parties also <br />acknowledge and agree that each party shall be responsible, in the percentages set forth <br />hereinbelow, for the remaining thirty percent (30 %) of the Eligible Project Costs and all other <br />related Project costs not funded by the REFG (all costs not funded by REFG hereafter referred <br />to as `Non - Reimbursable Cost "). Each party shall pay fifty percent (50 %) of the Non- <br />Reimbursable Cost except: (1) Portsmouth shall pay forty percent (40 11'c) of the Non- <br />Reimbursable Cost related to acquisition of property and Norfolk shall pay sixty percent (60 %) <br />of the Non - Reimbursable Cost related to acquisition of property; and (2) if, based on the <br />accepted general contractor bids for construction of the NFWM and the NRWM, the cost for <br />construction of the NFWM is ninety percent (90 %) or less than the cost for construction of the <br />NRWM, then Portsmouth shall pay forty -five percent (45 %) of the Non - Reimbursable Cost for <br />construction and Norfolk shall pay fifty -five percent (55 %) of the Non - Reimbursable Cost for <br />construction, including any change orders, through construction completion. The parties <br />expressly acknowledge that the final determination as to the eligibility of any cost for <br />reimbursement under the REFG, and therefore also the final determination of Non - Reimbursable <br />Costs, will not occur until final audits are completed, and that REFG funding is subject to the <br />Commonwealth's authority, through the Virginia Port Authority, to terminate its agreement for <br />such funding for convenience or for cause. The parties further acknowledge and agree that each <br />party is prepared, willing and committed to honor its obligation under this agreement and <br />shoulder its share of the Non - Reimbursable Costs, even in the case of termination of the REFG. <br />4 <br />