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K. Upon completion of the PROJECT construction, the BORROWER shall arrange a final <br /> inspection for the CWCB staff. <br /> L. The BORROWER shall pay all of the expenses related to the PROJECT when such bills are <br /> due. <br /> SECTION 9-ELIGIBLE EXPENSES. <br /> The following items are eligible for loan disbursements: <br /> A. Preparing final designs and specifications for the PROJECT. <br /> B. Preparing bid and construction contract documents. <br /> C. Preparing environmental assessment or environmental impact statements, and <br /> otherwise complying with the Federal National Environmental Policy Act. <br /> D. Complying with all federal, state, and local regulatory requirements, induding the <br /> obtaining of all required permits. <br /> E. Fish and wildlife mitigation measures required by federal, state, or local laws and <br /> regulations. <br /> F. Actual construction as called for in the design documents and in change orders <br /> approved by the CWCB and the BORROWER. <br /> G. Engineering services for construction management, including design and <br /> construction management for CWCB approved change orders. <br /> H. Interest during completion of the PROJECT pursuant to Paragraph A.5 of the <br /> CONTRACT. <br /> I. Legal services for reviewing engineering services contracts, reviewing this CONTRACT, <br /> reviewing construction contract documents, and for complying with all federal, state, <br /> and local regulatory requirements. <br /> J. PRoJEcr-related expenses incurred prior to the Effective Date of this CONTRACT in <br /> accordance with the approval of this loan. <br /> SECTION io-DISBURSEMENT SCHEDULE <br /> For project expenses: The BORROWER shall prepare a periodic progress report that sets <br /> forth a statement of the PROJECT costs expended for that period and shall forward said <br /> statement to the CWCB. After receipt of the periodic progress report from the <br /> BORROWER, and review and acceptance of the items therein as eligible expenses, as <br /> described above, the CWCB will pay to the BORROWER the amount set forth in the <br /> report or such portion as has been approved by the CWCB. Such payment shall be <br /> made within thirty(3o) days from the CWCB's approval of each progress report. <br /> SECTION 11-TIME FOR PERFORMANCE <br /> PROJECT To BEGIN: Upon Effective Date of this CONTRACT (the date this CONTRACT is <br /> signed by the State Controller or his designee). <br /> PROTECT TO END: Three(3)years from the Effective Date of this CONTRACT. <br /> Appendix 1 <br /> Page 4of4 <br />