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THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree as follows: <br /> A. LOAN PROVISIONS <br /> 1. Loan Service Fee. The amount of the LOAN shall include (1) the amount of the <br /> funds loaned by the CWCB to the BORROWER for the PROJECT and (2) a service fee <br /> of one percent (1%) of the PROJECT amount. In the event that the BORROWER does <br /> not use the LOAN AMOUNT authorized, the parties shall amend this CONTRACT to <br /> revise the LOAN AMOUNT including adjustment of the service fee to reflect 1% of the <br /> actual LOAN AMOUNT disbursed to the BORROWER. <br /> 2. Contract Amendment Service Fees. Under certain circumstances, the BORROWER <br /> shall be assessed a fee for amending the CONTRACT. <br /> a. A service fee shall be imposed on the BORROWER for amendments processed for <br /> the benefit of the BORROWER and necessary for the BORROWER'S course of <br /> business but not necessary for the CWCB, including, but not limited to, a change <br /> in BORROWER name, assignment of contract, substitution of collateral, loan <br /> payment deferments in excess of 3 per loan, and loan consolidation. <br /> Amendments in the course of CWCB business, including, but not limited to, loan <br /> payment deferments (up to 3 per loan), and changes in terms of loan repayment <br /> will be processed at no additional charge to the BORROWER. <br /> b. The amount charged shall be in accordance with the fee rate structure set forth in <br /> the CWCB Loan Service Charge Policy in effect at the time the BORROWER shall <br /> request an amendment. The current fee for an amendment is $1,000. <br /> c. The BORROWER shall remit the service fee to the CWCB prior to initiation of the <br /> amendment. Any service fee remitted to the CWCB cannot be refunded. <br /> 3. Promissory Note Provisions. The CWCB agrees to loan to the BORROWER an <br /> amount not to exceed the LOAN AMOUNT and the BORROWER agrees to repay the LOAN <br /> in accordance 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 /> AMOUNT. If the amount of loan funds disbursed by the CWCB to the BORROWER differs <br /> from the LOAN AMOUNT, the parties agree to amend the Promissory Note and this <br /> CONTRACT, including its appendices where necessary, to revise the LOAN AMOUNT. <br /> 4. Interest Prior to Project Completion. As the loan funds are disbursed by the CWCB <br /> to the BORROWER, interest shall accrue on the disbursed funds at the rate set by the <br /> CWCB for this loan. The CWCB shall calculate the amount of the interest that accrued <br /> prior to PROJECT'S substantial completion (as determined by the CWCB) and notify <br /> BORROWER of such amount. The BORROWER shall repay that amount to the CWCB <br /> either within ten (10) days from the date of notification from the CWCB, or, at the <br /> CWCB's discretion, said interest shall be deducted from the final disbursement of loan <br /> funds that the CWCB makes to the BORROWER. <br /> Page 2 of 13 <br />