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SECTION 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 including, <br /> but not limited to, the name of the seller, cost, closing date, and appraisal value <br /> and support documentation in the form of copies of the sales agreement and the <br /> appraisal pursuant to Section 8(A) above. After receipt of the written request from <br /> 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 request or such portion that has been approved by the CWCB. <br /> Such payment shall be made within thirty (30) days from the CWCB's approval of <br /> 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: Three (3) years from the Effective Date of this CONTRACT. <br /> [THE REST OF THIS PAGE INTENTIALLY LEFT BLANK] <br /> Appendix 1 to Loan Contract C150348 <br /> Page 3 of 3 <br />