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� <br />�..� <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 />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 />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 />CWCB or in any other manner, except for any existing lien(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 lien(s). <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 CWCB, at its option, may: <br />a. suspend this contract and withhold further loan di rsemen pe 'ng corrective <br />action by the BORROWER and if the RROWER es not re t e default as <br />provided for below, perman ntly ce lo disburse ents and the PROJECT <br />substantially complet <br />b. exercise its rights under appendice o this contract, including, but not limited to, <br />the Promissory Note and ecurity Agreement; and/or <br />c. 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 rnay 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 <br />described herein shall not relieve the BoRROwER of any of its duties and obligations <br />under this contract. <br />13. OPERATION OF PROJECT. The BORROWER Shall without expense or legal liability to the <br />CWCB, manage, operate and maintain the PRO�ECT continuously in an efficient and <br />economical manner. <br />14. BORROWER Liability Insurance. <br />Loan Contract C150241 <br />Page 5 of 11 <br />