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THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree to incorporate these recitals as part of the agreement of the <br /> parties and as follows: <br /> A. LOAN PROVISIONS <br /> 1. Loan Service Fee. The amount of the loan (LOAN AMOUNT) shall include (1) the <br /> amount of the funds loaned by the CWCB to the BORROWER for the PROJECT and (2) <br /> a service fee of one percent (1%) of the PROJECT amount. In the event that the <br /> BORROWER does not use the LOAN AMOUNT authorized, the parties shall amend this <br /> CONTRACT to revise the LOAN AMOUNT including adjustment of the service fee to <br /> reflect 1% of the 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, or to a third party for the benefit of the BORROWER, interest shall <br /> accrue on the disbursed funds at the rate set by the CWCB for this loan. The CWCB <br /> shall calculate the amount of the interest that accrued prior to PROJECT'S substantial <br /> completion (as determined by the CWCB) and notify BORROWER of such amount. The <br /> BORROWER shall repay that amount to the CWCB either within ten (10) days from the <br /> date of notification from the CWCB, or, at the CWCB's discretion, said interest shall be <br /> deducted from the final disbursement of loan funds that the CWCB makes to the <br /> BORROWER. <br /> {00466504.DOCX/} <br /> Page 2 of 12 <br />