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<br />its representations herein, the BORROWER shall be estopped from asserting for any <br />reason that it is not authorized or obligated to repay the loan to the CWCB as <br />required by this contract. <br /> <br />b. The BORROWER warrants that it has not employed or retained any company or <br />person, other than a bona fide employee working solely for the BORROWER, to <br />solicit or secure this contract and has not paid or agreed to pay any person, <br />company, corporation, individual, or firm, other than a bona fide employee, any fee, <br />commission, percentage, gift, or other consideration contingent upon or resulting <br />from the award or the making of this contract. <br /> <br />c. The BORROWER warrants that the Pledged Revenues and collateral for this loan <br />are not encumbered by any other deeds of trust or liens of any party other than the <br />eWeB or in any other manner, except for any existing Iien(s) identified in Section 5 <br />(Schedule of Existing Debt) of the Project Summary, which sets forth the position <br />of the lien created by this contract in relation to any existing Iien(s). <br /> <br />12. Remedies For Default. Upon default in the payments to be made by the BORROWER <br />under this contract, or default in the performance of any covenant or agreement <br />contained herein, the eWeB, at its option, may: <br /> <br />a. suspend this contract and withhold further loan disbursements pending corrective <br />action by the BORROWER, and if the BORROWER does not cure the default as <br />provided for below, permanently cease loan disbursements and deem the PROJECT <br />substantially complete; <br /> <br />b. exercise its rights under any appendices to this contract, including, but not limited to, <br />the Promissory Note and Security Agreement; and/or <br /> <br />c. take any other appropriate action. <br /> <br />The CWeB shall provide written notice to the BORROWER of any such default and shall <br />give the BORROWER an opportunity to cure within thirty (30) days of receipt of such <br />notice. All remedies described herein may be simultaneously or selectively and <br />successively enforced. The CWeB may enforce the provisions of this contract at its <br />option without regard to prior waivers of previous defaults by the BORROWER, through <br />judicial proceedings to require specific performance of this contract, or by such other <br />proceedings in law or equity as may be deemed necessary by the eWCB to ensure <br />compliance with provisions of this contract and the laws and regulations under which <br />this contract is executed. The CWeB's exercise of any or all of the remedies <br />described herein shall not relieve the BORROWER of any of its duties and obligations <br />under this contract. <br /> <br />13. OPERATION OF PROJECT. The BORROWER shall, without expense or legal liability to the <br />eWeB, manage, operate and maintain the PROJECT continuously in an efficient and <br />economical manner. <br /> <br />14. BORROWER'S Liability Insurance. <br /> <br />Loan Contract C150241 <br />Page 5 of 11 <br />