PROJ01948 (3) - Laserfiche WebLink

Home Browse Search

.I t relieve the BORROWER of any of its duties and obligations under this contract. 14.1n Event Of A Conflict. In the event of conflict between the terms of this contract and conditions as set forth in any of the appendices, the provisions of this contract shall control. 15. Release After Loan Is Repaid. Upon complete repayment to the STATE of the entire principal and any accrued interest as specified in the promissory note, the STATE agrees to execute releases of the security agreement and Assignment of Deposit Account to convey to the BORROWER all of the STATE'S right, title, and interest in and to the security provided for this loan, to file a UCC-3 form with the Secretary of State to terminate all of the STATE'S rights in and to' the security provided for this loan, and to release to the BORROWER any unused funds contained in the CD ACCOUNT. 16. Designated Agent Of The STATE. The CWCB, which includes its agents and employees, is hereby designated as the agent of the STATE for the purpose of this contract. 17. Contract Assignment. This contract is not assignable by the BORROWER except with the prior written approval of the STATE. 18. Contract Relationship. The parties to this contract intend that the relationship between them contemplated by this contract is that of lender-borrower, not employer- employee. No agent, employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or servant of the STATE. The BORROWER shall be solely and entirely responsible for its acts and the acts of its agents, employees, servants, engineering firms, construction firms, and subcontractors dlJring the performance of this contract. 19. Complete Integration Of All Understandings. This agreement is intended as the complete integration of all understandings between the parties. No prior or contemporaneous addition, deletion, or other amendment hereto shall have any force or effect whatsoever unless embodied herein in writing. No subsequent novation, renewal, addition, deletion, or other amendment hereto shall have any force or effect unless embodied in a written contract executed and approved pursuant to STATE fiscal rules. 20. Captions. The captions and headings contained in this contract are for convenience and reference only and shall not be construed so as to define or limit the terms or provisions contracted herein. 21. STATE'S Approval. This contract requires review and approval of plans, specifications, and various other technical and legal documents. The STATE'S review of these documents is only for the purpose of verifying BORROWER'S compliance with this contract and shall not be construed or interpreted as a technical review or approval of the actual design or construction of the PROJECT rehabilitation. Notwithstanding any consents or approvals given to the BORROWER by the STATE on any such documents, BORROWER and its CONSULTANT, by preparing any such documents, shall be solely responsible for the accuracy and completeness of any of said documents. Feasibility Report Loan Contract Page 6 of 11