C150228 Contract - Laserfiche WebLink

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Borrower will use this loan to payoff this existing debt. SECTION 6 - ADDITIONAL CONDITIONS & CONTRACT REQUIREMENTS No additional conditions. SECTION 7 - CONSTRUCTION FUND PROGRAM PROCEDURES FOR WATER PURCHASE PROJECTS. A. CWCB Loan Policy #8 requires that BORROWER must submit a written appraisal or opinion of value from a qualified water rights appraiser supporting the purchase price prior to disbursal of loan funds. The 46 Private Rights were purchased by Borrower at a widely advertised public auction, therefore no additional appraisal or opinion of value is required. B. The BORROWER shall pay all of the expenses related to the PROJECT when such bills are due. SECTION 8 - ELIGIBLE EXPENSES FOR WATER PURCHASE PROJECTS. A. Engineering associated with the feasibility report prepared as a requirement for this loan and associated with evaluating the suitability of the water rights for purchase by the BORROWER. B. Interest during completion of the PROJECT pursuant to Paragraph A.4 herein. C. Legal services for reviewing engineering services contracts and this Contract. D. Purchase of the water rights. SECTION 9 - DISBURSEMENT SCHEDULE For loan payoffs: For loan disbursements to payoff existing debt described in Section 5, the BORROWER shall provide the CWCB with a request that includes the amount needed to pay in full each existing loan, the loan number and the name and address, of the creditor, and the phone number and name of creditor contact. After review and acceptance of the request, the CWCB will pay to the Borrower the amount set forth in the request. Payment of said request shall be made within thirty (30 days from the CWCB's approval of said request). SECTION 10 - TIME FOR PERFORMANCE PROJECT Beginning: Upon Effective Date of this Contract (the date this contract is signed by the State Controller or his designee). PROJECT Finish: Two years from the Effective Date of this Contract. Appendix 1 to Loan Contract C150228 Page 2 of 2