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<br />4. Contract relationship. The parties to this contract intend that the relationship between them <br />contemplated by this contract is that of lender-borrower, not employer-employee. No agent, <br />employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or <br />servant of the STATE. The BORROWER shall be solely and entirely responsible for its acts and the acts <br />of its agents, employees, servants, engineering firms, construction firms, and subcontractors during <br />the performance.ofthis contract. <br /> <br />5. Complete integration of all understandings. This agreement is intended as the complete <br />integration of all understandings between the parties. No prior or contemporaneous addition, <br />deletion, or other amendment hereto shall have any force or effect whatsoever unless embodied <br />herein in writing. No subsequent novation, renewal, addition, deletion, or other amendment hereto <br />shall have any force or effect unless embodied in a written contract executed and approved pursuant <br />to STATE fiscal rules. <br /> <br />6. Eligible expenses. PROJECT construction costs eligible for financing by the STATE shall be <br />limited to 75% of the cost of: <br /> <br />- a. Preparing final designs and specifications for the PROJECT. <br /> <br />b. Preparing bid and construction contract documents. <br /> <br />c. Preparing environmental assessment or environmental impact statements, and otherwise <br />complying with the Federal National Environmental Policy Act. <br /> <br />d. Complying with all federal, state, anp~rY requirements, including the obtaining <br />of all required permits. <br /> <br />e. Fish and wildlife mitigation ~es"FIJ~eral, state, or local laws and <br />regulations. '.l:l~, <br /> <br />f. Actual construction as called for in the design documents and in change orders approved <br />by the STATE, the BORROWER, the CONSULTANT and the CONSTRUCTION FIRM. <br /> <br />g. Engineering services for construction management, including design and construction <br />management for STATE-approved change orders. <br /> <br />h. Legal services for reviewing engineering services contracts, reviewing this contract, <br />reviewing construction contract documents, and for complying with all federal, state, and <br />local regulatory requirements. Legal services must be approved by the STATE in writing and <br />in advance to be eligible for financing by the STATE. <br /> <br />i. Payoff of the BORROWER'S loan from the National Bank for Cooperatives with a payoff <br />balance of approximately $32,000. <br /> <br />7. STATE may release contract at its option. In its sole discretion, the STATE may at any time <br />give any consent, deferment, subordination, release, satisfaction, or termination of any or all of the <br />BORROWER'S obligations under this contract, with valuable consideration, upon such terms and <br />conditions as the STATE may determine to be advisable to further the purposes of this contract or to <br />protect the STATE'S financial interest therein, and consistent with both the statutory purposes of this <br />contract and the limitations of the statutory authority under which it is made. <br /> <br />Vouga Reservoir Association <br /> <br />Page 9 of 12 <br /> <br />Loan Contract <br />