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14 . As security for the loan to be made to it by the State, <br /> execute a deed of trust within thirty (30) days of the <br /> substantial completion of the project that shall convey to the <br /> State an undivided one hundred percent (100%) of the following: <br /> An undivided one hundred percent (100%) p 1 <br /> interest in and to the Sanchez Dam and - 1'+ <br /> Reservoir and all appurtenant struditirpr <br /> thereto, including all lands on which e41f *- <br /> facilities are located. f g <br /> The State recognizes that the deed of trust will be a second <br /> mortgage, the first mortgage being held by the United States <br /> Department of Agriculture, Farmers Home Administration (USDA- <br /> FHA) in the principle sum of One Hundred Fifty Thousand Dollars <br /> ($150, 000) . The final payment on the first mortgage is due in <br /> the year 2005. <br /> 15. Obtain, if possible, and maintain general fire and <br /> hazard insurance on the project in an amount not less than the <br /> outstanding amount of the loan made by the State to the <br /> Contractor until the Contractor has repaid the loan in full <br /> under the terms of paragraph A. 13 . above. The State shall be <br /> the sole insured of this policy. The Contractor shall submit <br /> certificates of insurance evidencing such insurance policies to <br /> the State at the signing of this contract. Notices of renewals <br /> of said policies shall also be filed with the State as they <br /> occur. The outstanding loan amount payable to the State shall <br /> be reduced in the amount of any payments made to the State under <br /> this insurance coverage. If only a portion of the outstanding <br /> loan amount is paid to the State under this policy, the number <br /> of installment payments shall remain unchanged; however, the <br /> amount of each payment shall be reduced. <br /> Page B. of 17 Pages <br />