C150044 Paid in Full Contract

• Contract/PO #: C150044
• Contractor Name: Riverside Reservoir & Land Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

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B. The STATE agrees as follows:
1. Agreement To Loan Money. The STATE agrees to loan to the BORROWER an amount not to
exceed that specified in the Promissory Note Provisions of this contract.
2. Disbursements. After receipt of the periodic progress report from the BORROWER, and review
and acceptance of the items therein as eligible expenses as described below, the STATE will pay
to the BORROWER the amount set forth in the report or such portion t g �• b--n approved by the
STATE. Such payment shall be made within thirty (30) days from - '1► = !• ival of each
progress report.
3. Release After Loan Is Repaid. Upon complete repayment t t A e entire principal, all
accrued interest, and late charges, if any, as specified in the, o t A grees to
execute a release of deed of trust to convey to the BORROWER all o r , title, and
interest in and to the property described in the deed of trust, to file a UC - with the
Secretary of State to terminate all of the STATE'S rights in and to the BORROWER'S right to receive
assessment revenues pledged to repay this loan, and to execute releases of the Assignment of
Certificate of Deposit and Assignment of Deposit Account as Security.
C. The STATE and the BORROWER mutually agree as follows:
1. Designated Agent Of The STATE. The CWCB, which includes its agents and employees, is
hereby designated as the agent of the STATE for the purpose of this contract.
2. Contract Is Not Assignable. This contract is not assignable by the BORROWER except with the
prior written approval of the STATE.
3. Contract Relationship. The parties to this contract intend that the relationship between them
contemplated by this contract is that of lender-borrower, not employer-employee. No agent,
employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent,
or servant of the STATE. The BORROWER shall be solely and entirely responsible for its acts and
the acts of its agents, employees, servants, engineering firms, construction firms, and
subcontractors during the performance of this contract.
4. Complete Integration Of All Understandings. This agreement is intended as the complete
integration of all understandings between the parties. No prior or contemporaneous addition,
deletion, or other amendment hereto shall have any force or effect whatsoever unless embodied
herein in writing. No subsequent novation, renewal, addition, deletion, or other amendment
hereto shall have any force or effect unless embodied in a written contract executed and approved
pursuant to STATE fiscal rules, unless expressly provided for herein.
5. In Event Of A Conflict. In the event of conflict between the terms of this contract and conditions
as set forth in any of the appendices, the provisions of this contract shall control.
6. Eligible Expenses. PROJECT costs eligible for financing by the STATE shall be limited to 90% of the
cost of:
a. Preparing final designs and specifications for the PROJECT.
b. Preparing bid and construction contract documents.
c. Preparing environmental assessment or environmental impact statements, and otherwise
complying with the Federal National Environmental Policy Act.
d. Complying with all federal, state, and local regulatory requirements, including the obtaining of
all required permits.
e. Fish and wildlife mitigation measures required by federal, state, or local laws and regulations.
Riverside Reservoir and Land Company Page 8 of 12 Loan Contract C150044