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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 />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 />9. Change of Ownership of Water Shares During Term of Contract. If the interest <br />rate for this loan is based on the CWCB's agricultural or blended agricultural and <br />municipal and/or commercial and/or industrial rates, the BoRROwER agrees to notify <br />the CWCB of any change of the ownership of the water rights represented by its <br />shares from irrigation to municipal or commercial or industrial use. The interest rate <br />shall be revised when said change in ownership would increase the original interest <br />rate by 0.5% or more. The parties shall amend this contract, including a revised <br />promissory note, to effect said change in interest rate. <br />10. 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 CWCB, at its option, may: <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 PRO�ECr <br />substantially complete; <br />b. declare the entire principal amount, accrued interest, and late charges, if any, then <br />outstanding immediately due and payable; <br />c. exercise its rights under any appendices to this contract, including, but not limited to, <br />the Promissory Note, Security Agreement, and/or any instrument securing collateral; <br />and/or <br />d. take any other appropriate action. <br />The CWCB 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 CWCB 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 CWCB to ensure <br />compliance with provisions of this contract and the laws and regulations under which <br />this contract is executed. The CWCB's exercise of any or all of the remedies described <br />herein shall not relieve the BoRROwER of any of its duties and obligations under this <br />contract. <br />11. BORROWER' Indemnification Of The CWCB. The BoRROwER agrees to indemnify and <br />hold the CWCB harmless from any liability incurred by the CWCB as a result of the <br />CWCB's interest in the PRO�ECT facilities and any other property identified in Section 5 <br />(Collateral) of the Project Summary. <br />Page 3 of 8 <br />