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attached as APPENDIX 2) to revise the LOAN AMOUNT including adjustment of the loan <br /> origination fee to reflect 1°/0 of the actual LOAN AMOUNT disbursed to the BORROWER. <br /> 2. Amendments and Option Letters. <br /> a. If the amount of loan funds disbursed by the CWCB, to the Borrower, differs from <br /> the LOAN AMOUNT, the parties shall amend this CONTRACT or exercise an <br /> OPTION LETTER. <br /> b. An amendment to this CONTRACT shall be executed for the following changes <br /> including, but not limited to, an increase in LOAN AMOUNT, change in pledged <br /> revenues or Property, and decrease in LOAN AMOUNT with re-amortization of the <br /> Loan. <br /> c. Upon substantial completion of the PROJECT with a resulting decrease in the <br /> total LOAN AMOUNT and the Borrower requests a change in the annual payment, <br /> the PARTIES agree to amend this contract. <br /> d. Upon substantial completion of the PROJECT with a resulting decrease in the <br /> total LOAN AMOUNT, but not a change in the annual payment, the STATE may <br /> exercise an option and shall provide written notice to the BORROWER in form <br /> substantially equivalent to APPENDIX 2. If exercised, the provisions of the OPTION <br /> LETTER and supporting documentation shall become part of and be incorporated <br /> into this CONTRACT for the total duration of this CONTRACT. <br /> 3. Contract Amendment Service Fees. Under certain circumstances, the BORROWER shall <br /> be assessed a service fee for amending the CONTRACT. <br /> a. A service fee shall be imposed on the BORROWER for amendments processed for the <br /> benefit of the BORROWER and necessary for the BORROWER'S course of business but not <br /> necessary for the CWCB, including, but not limited to, a change in BORROWER name, <br /> assignment of contract, substitution of pledged revenues or property, loan payment <br /> deferments in excess of 3 per loan, and loan consolidation. Amendments in the course of <br /> CWCB business, including but not limited to, loan payment deferments (up to 3 per loan) <br /> and changes in terms of loan repayment will be processed at no additional charge to the <br /> BORROWER. <br /> b. The amount charged shall be in accordance with the service fee rate structure set <br /> forth in the CWCB Loan Service Charge Policy in effect at the time the BORROWER shall <br /> request an amendment. The current service 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 /> 4. Promissory Note Provisions. <br /> The PROMISSORY NOTE shall identify the LOAN AMOUNT. The CWCB agrees to loan to the <br /> BORROWER an amount not to exceed the LOAN AMOUNT and the BORROWER agrees to <br /> repay the loan in accordance with the terms as set forth in the PROMISSORY NOTE, <br /> attached hereto as APPENDIX 3 and incorporated herein. <br /> Page 2 of 13 <br />