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D. Purchase of the WATER RIGHTS. <br /> 10—DISBURSEMENT SCHEDULE <br /> For a WATER RIGHTS purchase, the BORROWER shall prepare a written request for <br /> funds that shall describe the upcoming closing on WATER RIGHTS purchase <br /> including, but not limited to, the name of the seller, cost, closing date, and <br /> appraisal value and support documentation in the form of copies of the sales <br /> agreement and the appraisal pursuant to Section 8 above. After receipt of the <br /> written request from the BORROWER, and review and acceptance of the items <br /> therein as eligible expenses as described above, the CWCB will pay to the <br /> BORROWER the amount set forth in the request or such portion that has been <br /> approved by the CWCB. Such payment shall be made within thirty (30) days from <br /> the CWCB's approval of each request. <br /> SECTION 11 -TIME FOR PERFORMANCE <br /> PROJECT Beginning: Upon Effective Date of this CONTRACT (the date this <br /> CONTRACT 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 INTENTIALLY LEFT BLANK] <br /> Page 3 of 3 <br />