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<br />,'~.':.'~.~ <br /> <br />and local regulatory requirements. <br /> <br />J. Engineering associated with the feasibility report prepared as a requirement for this <br />loan and associated with evaluating the suitability of the water rights for purchase by <br />the BORROWER. <br /> <br />K. Purchase of the water rights. <br /> <br />L. PROJECT-related expenses incurred prior to the Effective Date of this contract in <br />accordance with the legislative approval of this loan. . . <br /> <br />SECTION 9 - DISBURSEMENT SCHEDULE. <br /> <br />The BORROWER shall provide to the CWCB (1) documentation of PROJECT-related <br />expenses incurred to date or (2) periodic progress reports containing a statement of the <br />PROJECT costs expended for that period. . After receipt of the documentation or periodic <br />progress report from the BORROWER, and review and acceptance of the items therein as <br />eligible expenses as described below, the CWCB will pay to the BORROWER the amount <br />set forth in the documentation or report or such portion that has been approved by the <br />CWCB. Such payment shall be made within thirty (30) days from the CWCB's approval <br />of each progress report. <br /> <br />SECTION 10 - TIME FOR PERFORMANCE <br /> <br />PROJECT Beginning: Effective Date of this Contract, which occurs upon execution of <br />this contract by the State Controller or his designee <br /> <br />PROJECT Finish: Three (3) years from Effective Date <br /> <br />Page 4 of 4 <br />