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<br />funding the feasibility report for the Gurley Dam project) will <br />be integrated with the Contractor's repayment of the <br />construction loan of the project contact. which will be <br />executed contemporaneously with and immediately prior to the <br />execution of his termination contract. <br /> <br />NOW, THEREFORE it is hereby agreed that: <br /> <br />I, The feasibility report contract entered into between <br />the State and the Contractor on February IS, 1987 (attached as <br />Exhibit B and incorporated by reference herein). Contract <br />Encumbrance No. C-IS3486, is hereby terminated and the <br />remaining Obligations of the State and the Contractor under the <br />terms of that contract are no longer enforceable. <br /> <br />2. The Contractor agrees to the following terms for the <br />repayment of Sixty Thousand Dollars ($60,000). which represents <br />the principal amount provided by the State as partial financing <br />for the feasibility report under the terms of the feasibility <br />report contract: <br /> <br />a. The Sixty Thousand Dollars ($60,000) referred to <br />above will be added to that amount loaned to the <br />Contractor by the Statih ~~the project contract for <br />the repair of the G~~~roject. <br /> <br />b. The total amount~escr~i ragraph 2.a. above <br />and interest for th~u~ be repaid under the <br />terms of the proj~l on~a to be entered into <br />between the State ~ he Contractor. <br /> <br />3. This termination of the feasibility report contract <br />will not be effective until such time as a valid and <br />enforceable project contract containing the terms of paragraph <br />2. above is in effect for the repair of the Gurley Dam project. <br /> <br /> <br />Page l of ~ Pages <br />