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<br />4. Complete integration of all understandings. This agreement is intended as the complete integration of <br />all understandings between the parties. No prior or contemporaneous addition, deletion, or other amendment <br />hereto shall have any force or effect whatsoever unless embodied herein in writing. No subsequent notation, <br />renewal, addition, deletion, or other amendment hereto shall have any force or effect unless embodied in a <br />written contract executed and approved pursuant to STATE fiscal rules. <br /> <br />5. Eligible expenses. PROJECT construction costs eligible for financing by the STATE shall be limited to the <br />cost of: <br /> <br />a. Preparing final desi .~ ~~<lj~~\9ations for the PROJECT. <br /> <br /> <br />b. prepa~ing bi,r . nmQl ~intr~1ct d~cuments. . .. <br /> <br />c. Preparing environ ent~s4ssn:r~m()~~nvlronmentallmpact statements, and otherwise complYing <br />with the Federal National Environmental Policy Act. <br /> <br />d. Complying with all federal, state, and local regulatory requirements, including the obtaining of all <br />required permits. <br /> <br />e. Fish and wildlife mitigation measures required by federal, state, or local laws and regulations. <br /> <br />f. Actual construction as called for in the design documents and in change orders approved by the <br />STATE, the BORROWER, the CONSULTANT and the CONSTRUCTION FIRM. <br /> <br />g. Engineering services for construction management, including design and construction management <br />for STATE-approved change orders. <br /> <br />h. Legal services for reviewing engineering services contracts, reviewing this contract, reviewing <br />construction contract documents, acquiring the land and water rights needed for the PROJECT, and for <br />complying with all federal, state, and local regulatory requirements. Legal services must be approved <br />by the STATE in writing before they are rendered to be eligible for payment by the STATE. <br /> <br />6. STATE may release contract at its option. In its sole discretion, the STATE may at any time give any <br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the BORROWER'S <br />obligations under this contract with or without valuable consideration, upon such terms and conditions as the <br />STATE may determine to be: <br /> <br />a. advisable to further the purposes of this contract or to protect the STATE'S financial interest therein, <br />and <br /> <br />b. consistent with both the statutory purposes of this contract and the limitations of the statutory <br />authority under which it is made. <br /> <br />7. Casualty and eminent domain. If, at any time, during the term of this contract, (a) the BORROWER'S <br />PROJECT facilities which are pledged as collateral for this loan, including buildings or any portion thereof, are <br />damaged or destroyed, in whole or in part, by fire or other casualty, or (b) title to or use of the PROJECT facilities <br />or any part thereof shall be taken under the exercise of the power of eminent domain, the STATE and the <br />BORROWER shall cause the net proceeds of any insurance claim or condemnation award to be applied to the <br />prompt replacement, repair and restoration of the PROJECT facilities or any portion thereof. Any net proceeds <br />remaining after such work has been completed shall be paid to the BORROWER. If the net proceeds are <br />insufficient to pay the full cost of the replacement, repair and restoration, the BORROWER shall complete the <br />work and pay any cost in excess of the net proceeds (provided, however, that the BORROWER shall be obligated <br />. to pay any such cost in excess of net proceeds only to the extent of any moneys available therefor in any funds <br />created under this contract). <br /> <br />ElMWOOD LATERAL DITCH COMPANY <br /> <br />Page 8 of 1 1 <br /> <br />LOAN CONTRACT <br />