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� M <br />SECTION 9 — DISBURSEMENT SCHEDULE <br />For Project costs: The BORROWER shall prepare a periodic progress report <br />which contains a statement of the PROJECT costs expended for that period and <br />shall forward said statement to the CWCB. After receipt of the periodic progress <br />report from the BORROWER, and review and acceptance of the items therein as <br />eligible expenses as described below, the CWCB will pay to the BORROWER the <br />amount set forth in the report or such portion that has been approved by the <br />CWCB. Such payment shall be made within thirty (30) days from the CWCB's <br />approval of each progress report. <br />SECTION 10 — TIME FOR PERFORMANCE <br />PROJECT Beginning: Upon Effective Date of this Contract (the date this contract <br />is signed by the State Controller or his designee). <br />PROJECT Finish: Four (4) years from the Effective Date of this Contract. <br />[THE REST OF THIS PAGE IS INTENTIONALLY LEFT BLANK.) <br />Appendix 1 to Loan Contract C150321 <br />Page 4 of 4 <br />