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<br />PAID <br />IN FULL <br /> <br />LOAN CONTRACT <br />Lower Arkansas <br />Water Management Association <br />Feasibility Study <br /> <br />10. (BORROWER WARRANTIES): <br /> <br />lOa. The Borrower warrants that it has full power and authority to enter into this <br />Contract. The execution and delivery of this Contract and the performance and observation <br />of its terms, conditions and obligations have been duly authorized by all necessary actions of <br />the Borrower. <br /> <br />lOb. The Borrower warrants that by accepting a loan pursuant to the terms of this <br />Contract and by the Borrower's representations herein, the Borrower shall be estopped from <br />asserting for any reason that it is not authorized or obligated to repay the loan pursuant to <br />the terms of this Contract to the State. <br /> <br />10c. The Borrower warrants that he has not employed or retained any company or <br />person, other than the Consultant referred to in paragraph 1. of this contract, and other than <br />a bona fide employee working solely for him, to solicit or secure this contract and that he <br />has not paid or agreed to pay any person, company, corporation, individual, or firm, other <br />than a bona fide employee working solely for him, any fee, commission, percentage, gift, or <br />other consideration contingent upon or resulting from the award or the making of this <br />contract. <br /> <br />11. (OTHER PROVISIONS): <br /> <br />l1a. (The Colorado Water Conservation Board is designated agent of the State): <br />The Colorado Water Conservation Board, its agents and employees, is hereby designated as <br />the agent of the State for the purpose of this contract. <br /> <br />11 b. (Contract is not assignable): This contract is personal in nature and assignment <br />of performance by the Borrower to another is prohibited unless prior approval in writing is <br />granted by the State. <br /> <br />lIe. (Contract relationship is that of lender-borrower): The parties to this <br />contract intend that the relationship between them contemplated by this contract is that of <br /> <br />Page 8 of 12 Pages <br />