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THEREFORE, in consideration of the mutual and dependent covenants contained <br /> herein, the parties agree as follows: <br /> A. LOAN PROVISIONS <br /> 1. Loan Origination Fee. The LOAN AMOUNT shall include (1) the amount of the funds <br /> loaned by the CWCB to the BORROWER for the PROJECT and (2) a loan origination <br /> fee of one percent (1%) of the requested loan amount. In the event tha the <br /> BORROWER does not use the full LOAN AMOUNT authorized, the parties shall aend <br /> this CONTRACT or exercise an OPTION LETTER (as outlined in section A.2. and <br /> attached as APPENDIX 2) to revise the LOAN AMOUNT including adjustment of the loan <br /> origination fee to reflect 1% of the actual LOAN AMOUNT disbursed to the BORRO ER. <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 chaiges <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 thi <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 BORR+WER shall <br /> be assessed a service fee for amending the CONTRACT. <br /> a. A service fee shall be imposed on the BORROWER for amendments procesed 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 the BORROWER'S 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 th course of <br /> CWCB business, including but not limited to, loan payment deferments (up to per loan) <br /> and changes in terms of loan repayment will be processed at no additional ch rge to the <br /> BORROWER. <br /> b. The amount charged shall be in accordance with the service fee rate structu e set forth <br /> in the CWCB Loan Service Charge Policy in effect at the time the BORROWER s all request <br /> an amendment. The current service fee for an amendment is $1,000. <br /> Page 2 of 13 <br />