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additional charge to the borrower. <br />b. The amount charged shall be the fee rate structure in accordance with the CWCB <br />Loan Service Charge Policy in effect at the time the Borrower shall request an <br />amendment. The current fee for an amendment is $1,000. <br />c. The BoRROwER shall remit the service fee to the CWCB prior to initiation of the <br />amendment. Any service fee remitted to the CWCB cannot be refunded. <br />3. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an <br />amount not to exceed the Loatv AMOUNT and the BoRROwER agrees to repay the loan in <br />accordance with the terms as set forth in the Promissory Note, in the form attached <br />hereto as Appendix 2 and incorporated herein. The Promissory Note shall identify the <br />LoaN AnnoutvT. If the amount of loan funds disbursed by the CWCB to the BoRROwER <br />differs from the LoaN AnnouNT, the parties agree to amend this contract to revise the <br />LOAN AMOUNT. <br />4. Interest Prior to PRO�ecT Completion. As the loan funds are disbursed by the CWCB <br />t0 th2 BORROWER interest shall accrue at the rate set by the CWCB for this loan. The <br />CWCB shall calculate the amount of the interest that accrued prior to substantial <br />completion of the PRO�ECT and notify BoRROwER of such amount. The BoRROwER shall <br />repay that amount to the CWCB either within ten (10) days from the date of notification <br />from the CWCB, or, at the CWCB's discretion, s' interest shall be deducted from the <br />final disbursement of loan funds that t S t0 the BORROWER <br />5. Return of Unused Loan Funds. An 10 isbursed but not expended for the <br />PRO�ECT in accordance with the terms of this c all be remitted to the CWCB <br />within 30 calendar days from noti�y fr� either (1) completion of the <br />PROJECT Or (2) upon the determi�� b h at the PRO�ECT will not be <br />completed. <br />6. Collateral. The collateral for this loan is described in Section 5(Collateral) of the <br />Project Summary, and secured by the instrument(s) attached hereto as Appendix 3 <br />and incorporated herein. , <br />a. The BoRROwER shall not sell, convey, assign, grant, transfer, mortgage, pledge, <br />encumber, or otherwise dispose of the collateral for this loan so long as any of <br />the principal, accrued interest, and late charges, if any, on this loan remain <br />unpaid, without the prior written concurrence of the CWCB. In the event of any <br />such sale, transfer or encumbrance without the CWCB's written concurrence, the <br />CWCB may at any time thereafter declare all outstanding principal, interest, and <br />late charges, if any, on this loan immediately due and payable. <br />7. Release After Loan Is Repaid. Upon complete repayment to the CWCB of the entire <br />principal, all accrued interest, and late charges, if any, as specified in the Promissory <br />Note, the CWCB agrees to release and terminate any and all of the CWCB's right, title, <br />and interest in and to the collateral pledged to assure repayment of this loan. <br />8. Warranties. <br />a. The BORROwER warrants that by acceptance of the loan under this contract and by <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 />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 />Page 2 of 8 <br />