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<br />Section 8.K. the BORROWER shall provide the CWCB with a request that includes <br />the amount needed to pay in full each existing loan, the loan number and the <br />name and address, of the creditor, and the phone number and name of creditor <br />contact. After review and acceptance of the request, the CWCB will pay to the <br />Borrower the amount set forth in the request. Payment of said request shall be <br />made within thirty (30 days from the CWCS's approval of said request. <br />For a water rights purchase. the BORROWER shall prepare a written request for funds <br />that shall describe the upcoming closing on water rights purchase including. but not <br />limited to, the name of the seller, cost. dosing date. and appraisal value and support <br />documentation in the form of copies of the sales agreement and the appraisal <br />pursuant to Section 7(a) above. After receipt of the written request from the <br />BORROWER. and review and acceptance of the items therein as eligible expenses as <br />described above, the CWCS will pay to the BORROWER the amount set forth in the <br />request or such portion that has been approved by the CWCB. Such payment shall be <br />made within thirty (30) days from the CWCB's approval of each request. <br />SECTION 10 - TIME FOR PERFORMANCE <br />PROJECT Beginning: Upon Effective Date of this Contract (the date this contract <br />is signed by the State Controller or his designee). <br />PROJECT Finish: Two years from the Effective Date of this Contract <br /> <br />Page 3 of 3 <br />