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M <br />a. A service fee shall be imposed on the BORROWER for amendments processed for <br />ft ie benefit of the BORROWER and necessary for the BORROWER'S course of <br />b isiness but not necessary for the CWCB, including, but not limited to, a change <br />ir borrower name (novation), assignment of contract, substitution of collateral, <br />Ic an payment deferments in excess of 3 per loan, and loan consolidation. <br />A rnendments in the course of CWCB business, including, but not limited to, loan <br />p iyment deferments (up to 3 per loan), changes in terms of loan repayment and <br />a nendments to adjust the interest rate pursuant to Paragraph A.13 herein, will be <br />p ocessed at no additional charge to the borrower. <br />b. T ie amount charged shall be in accordance with the fee rate structure set forth in <br /># a CWCB Loan Service Charge Policy in effect at the time the BORROWER shall <br />rf quest an amendment. The current fee for an amendment is $1,000. <br />c. T ie BORROWER shall remit the service fee to the CWCB prior to initiation of the <br />ainendment. Any service fee remitted to the CWCB cannot be refunded <br />3. Pron issory Note Provisions. The CWCB agrees to loan to the BORROWER an <br />amoL nt not to exceed the LOAN AMOUNT and the BORROWER agrees to repay the loan in <br />accoi dance with the terms as set forth in the Promissory Note, attached hereto as <br />Appendix 2 and incorporated herein. The Promissory Note shall identify the LOAN <br />Arno NT. If the amount of loan funds disbursed by the CWCB to the BORROWER differs <br />from the LOAN AMOUNT, the parties agree to amend this contract, Including its <br />appe dices where necessary, to revise the LOAN AMOUNT. <br />4. Inter st Prior to PROJECT Completion. As the loan funds are disbursed by the CWCB <br />to thq BORROWER, interest shall accrue at the rate set by the CWCB for this loan. The <br />CW shall calculate the amount of the interest that accrued prior to PROJECT'S <br />subIn <br />tial completion (as determined by the CWCB) and notify BORROWER of such <br />am. The BORROWER shall repay that amount to the CWCB either within ten (10) <br />daym the date of notification from the CWCB, or, at the CWCB's discretion, said <br />inte shall be deducted from the final disbursement of loan funds that the CWCB <br />mato the BORROWER. <br />5. Retuqn of Unused Loan Funds. Any loan funds disbursed but not expended for the <br />PROD cT in accordance with the terms of this contract shall be remitted to the CWCB <br />withi 30 calendar days from notification from the CWCB of either (1) completion of the <br />PROJ cT or (2) determination by the CWCB that the PROJECT will not be completed. <br />6. BORR WER's Authority To Contract. The BORROWER warrants that it has full power <br />and a thority to enter into this contract. The execution and delivery of this contract and <br />the p rformance and observation of its terms, conditions and obligations have been <br />duly uthorized by all necessary actions of the BORROWER. The BORROWER'S <br />autho 'zing resolution(s) are attached as Appendix 3 and incorporated herein. <br />7. Attor ey's Opinion Letter. Prior to the execution of this contract by the CWCB, the <br />BORROWER shall submit to the CWCB a letter from its attorney stating that it is the <br />attom .-Y's opinion that <br />Loan Contrar_t C1 rm7l <br />