Section 40.125-1 - Limitations on duration(b) No research or demonstration grant shall be approved for a project period in excess of 5 years.(c) The grant award official may extend the budget and project periods for up to an additional 12 months without additional grant funds, when such extensions are in the best interest of the Government.42 FR 56057, Oct. 20, 1977, as amended at 72 FR 52010, Sept. 12, 2007