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accordance with the approval of this loan. <br /> SECTION 10—DISBURSEMENT SCHEDULE <br /> For project expenses: The BORROWER shall prepare a periodic progress report <br /> that sets forth a statement of the PROJECT costs expended for that period and shall <br /> forward said statement to the CWCB. After receipt of the periodic progress report <br /> from the BORROWER, and review and acceptance of the items therein as eligible <br /> expenses, as described above, the CWCB will pay to the BORROWER the amount <br /> set forth in the report or such portion as has been approved by the CWCB. Such <br /> payment shall be made within thirty (30) days from the CWCB's approval of each <br /> progress report. <br /> SECTION 11 —TIME FOR PERFORMANCE <br /> PROJECT BEGINS: Upon Effective Date of this CONTRACT (the date this CONTRACT <br /> is signed by the State Controller or his designee). <br /> PROJECT END DATE: Three (3) years from the Effective Date of this CONTRACT. <br /> [THE REST OF THIS PAGE INTENTIONALLY LEFT BLANK] <br /> Appendix 1 <br /> Page 4 of 4 <br />