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CONTRACT. <br /> b. The BORROWER warrants that it has not employed or retained any company or person, <br /> other than a bona fide employee working solely for the BORROWER, to solicit or secure this <br /> CONTRACT and has not paid or agreed to pay any person, company, corporation, <br /> individual, or firm, other than a bona fide employee, any fee, commission, percentage, <br /> gift, or other consideration contingent upon or resulting from the award or the malting of <br /> this CONTRACT. <br /> c. The BORROWER warrants that the PLEDGED REVENUES and PLEDGED PROPERTY for this loan <br /> are not encumbered by any other deeds of trust or liens of any party other than the <br /> CWCB or in any other manner, except for the ExiSTING PARITY LOANS which sets forth the <br /> position of the lien created by this CONTRACT in relation to any existing lien(s). <br /> Documentation establishing the relative priorities of said liens, if necessary, is attached to <br /> the PROJECT SUMMARY and incorporated herein. <br /> 15. Remedies for Default. Upon default in the payments to be made by the BORROWER under <br /> this CONTRACT, or default in the performance of any covenant or agreement contained herein, <br /> the CWCB, at its option, may: <br /> a. suspend this CONTRACT and withhold further loan disbursements pending corrective <br /> action by the BORROWER, and if the BORROWER does not cure the default as provided for <br /> below, permanently cease loan disbursements and deem the PROJECT substantially <br /> complete; <br /> b. declare the entire principal amount, accrued interest, and late charges, if any, then <br /> outstanding immediately due and payable; <br /> c. exercise its rights under any appendices to this CONTRACT, including, but not limited to, <br /> the PROMISSORY NOTE, SECURITY AGREEMENT, and/or any instrument securing pledged <br /> revenues and property;and <br /> d. take any other appropriate action. <br /> The CWCB shall provide written notice to the BORROWER of any such default and shall give <br /> the BORROWER an opportunity to cure within thirty (3o) days of receipt of such notice. All <br /> remedies described herein may be simultaneously or selectively and successively enforced. <br /> The CWCB may enforce the provisions of this CONTRACT at its option without regard to prior <br /> waivers of previous defaults by the BORROWER, through judicial proceedings to require <br /> specific performance of this CONTRACT, or by such other proceedings in law or equity as may <br /> be deemed necessary by the CWCB to ensure compliance with provisions of this CONTRACT <br /> and the laws and regulations under which this CONTRACT is executed. The CWCB'S exercise <br /> of any or all of the remedies described herein shall not relieve the BORROWER of any of its <br /> duties and obligations under this CONTRACT. <br /> 16. Operation of PROJECT. The BORROWER shall, without expense or legal liability to the <br /> CWCB,manage, operate, and maintain the PROJECT continuously in an efficient and <br /> Page 7 of 14 <br />