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M. PRO~ECr-related expenses incurred prior to the Effective Date of this contract. <br />1 O - DISBURSEMENT SCHEDULE <br />For Project costs: The BoRROwER shall prepare a periodic progress report which <br />contains a statement of the PRO~ECr costs expended for that period and shall <br />forward said statement to the CWCB. After receipt of the periodic progress report <br />from the BoRROwER, and review and acceptance of the items therein as eligible <br />expenses as described below, the CWCB will pay to the BoRROwER the amount set <br />forth in the report or such portion that has been approved by the CWCB. Such <br />payment shall be made within thirty (30) days from the CWCB's approval of each <br />progress report. <br />SECTION 11 - TIME FOR PERFORMANCE <br />PRO~ECT Beginning: Upon Effective Date of this Contract (the date this contract is <br />signed by the State Controller or his designee). <br />PRO~ECT Finish: Two years from the Effective Date of this Contract <br />Appendix 1 to Loan Contract C150201 <br />Page 4 of 4 <br />