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