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prepare, with the assistance of the <br />engineering firm referred to in paragraph <br />B.1. above, an estimate of the funds required <br />from the State for project engineering and /or <br />construction during that month and shall <br />forward said estimate to the State not less <br />than fifteen (15) days prior to the beginning <br />of such month. <br />b. Upon receipt and approval by the State <br />of such monthly estimate, the State will, <br />within forty (40) days from the receipt of <br />such estimate, pay over to the Contractor the <br />amount of the monthly estimate or such - <br />portion thereof as has been approved by the <br />State. <br />C. No payments will be made under this <br />contract for project construction until the <br />project plans and specifications referred to <br />in paragraph B.1. above are approved by the <br />State. <br />J. Upon completion <br />in the Sum of Five Hi <br />Dollars and Eighty - <br />set forth in paragra <br />the State agrees to c <br />of the State's right, <br />to the project and <br />paragraph B.12. by <br />conveyance. <br />KMpayment to the State <br />IftWe Thousand Eight <br />Wffl-s 3,008.88), as <br />Xontractor s contract, <br />all <br />4 Wcr interest in and <br />r property described in <br />other proper <br />4. The repayment schedule (Exhibit A of the Original <br />Contract) is hereby amended as shown in Attachment B, which is by <br />this reference incorporated and made a part hereof. <br />5. The effective date of this Contract Amendment No. 1 <br />shall be seven (7) days after the day it is dated. <br />6. The Contractor pledges its full faith and credit in <br />support of this obligation and warrants that it shall lawfully <br />adopt a valid ordinance that recognizes this obligation pursuant <br />to its charter prior to the execution of this Contract. Such <br />ordinance is a condition precedent to State performance of this <br />contract. Such ordinance shall be irrepealable for the period of <br />repayment of the project contract loan. Such ordinance shall <br />specifically authorize the City to enter into this Contract. <br />Such ordinance shall specifically pledge the full faith and <br />credit of the City to repay the project contract loan in the <br />event of default. Such ordinance shall be attached hereto as <br />Attachment C and is incorporated herein by this reference. <br />Page 4 of 7 Pages <br />