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Promissory Note Provisions of the contract remain unpaid without the prior written concurrence of <br /> the STATE. <br /> 10. Remedies For Default. Upon default in the payments herein set forth to be made by the <br /> BORROWER, or default by the DISTRICT or the BORROWER in the performance of any covenant or <br /> agreement contained herein, the STATE, at its option, may: <br /> a. declare the entire principal amount and accrued interest then outstanding immediately due <br /> and payable; <br /> b. act upon the Promissory Note; <br /> • y: <br /> c. apply the funds contained in the CD ACCOUNTS t•,3 'iepay of the loan; and/or <br /> d. take any other appropriate and legal action <br /> Upon a default, all remedies described her-in ay-,be s ultaneously or selectively and <br /> successively enforced. The provisions of this contra ; be enforced by the STATE at its <br /> option without regard to prior waivers of ;ous defau •y the DISTRICT or the BORROWER, <br /> through judicial proceedings to require s ' ' ce of this contract, or b such other <br /> proceedings in law or equity as may be dee d, -• "' ary by the STATE to ensure compliance <br /> with provisions of this contract a laws ;and regulations under which this contract is <br /> executed. The STATE'S exercise • ` -ny ,ro h1 all of remedies described herein shall not relieve <br /> the DISTRICT or the BORROWER }�` -; .ts duties and obligations under this contract. <br /> 11. In Event Of A Conflict. In the event ci 1'21 V. between the terms of this contract and conditions <br /> as set forth in anyof the appendices, the - ' isions of this contract shall control. <br /> PP P'�'- <br /> 12. Release After Loan Is Repaid. Upon complete repayment to the STATE of the entire principal <br /> and any accrued interest as specified in the Promissory Note, the STATE agrees to release to the <br /> DISTRICT and/or the BORROWER any unused funds contained in the CD ACCOUNTS. <br /> 13. Designated Agent Of The STATE. The CWCB, which includes its agents and employees, is <br /> hereby designated as the agent of the STATE for the purpose of this contract. <br /> 14. Contract Assignment. This contract is not assignable by the DISTRICT and the BORROWER <br /> without the prior written approval of the STATE. <br /> 15. Contract Relationship. The parties to this contract intend that the relationship between them <br /> contemplated by this contract is that of lender-borrower, not employer-employee. No agent, <br /> employee, or servant of the DISTRICT or the BORROWER shall be, or shall be deemed to be, an <br /> employee, agent, or servant of the STATE. The DISTRICT and the BORROWER shall be solely and <br /> entirely responsible for their acts and the acts of their agents, employees, servants, engineering <br /> firms, construction firms, and subcontractors during the performance of this contract. <br /> 16. Complete Integration Of All Understandings. This agreement is intended as the complete <br /> integration of all understandings between the parties. No prior or contemporaneous addition, <br /> deletion, or other amendment hereto shall have any force or effect whatsoever unless embodied <br /> herein in writing. No subsequent novation, renewal, addition, deletion, or other amendment <br /> hereto shall have any force or effect unless embodied in a written contract executed and <br /> approved pursuant to STATE fiscal rules. <br /> 17. Captions. The captions and headings contained in this contract are for convenience and <br /> reference only and shall not be construed so as to define or limit the terms or provisions <br /> contracted herein. <br /> 18. STATE'S Approval. This contract requires review and approval of the Study. The STATE'S review <br /> Feasibility Report Loan Contract Page 4 of 8 <br />