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a. Amendments and Option Letters. In the event that the BORROWER does not use the <br /> full amount authorized, the parties shall amend this CONTRACT or exercise an OPTION <br /> LETTER (attached as Appendix 2) and incorporated herein, to revise the TOTAL LOAN <br /> AMOUNT including an adjustment of the LOAN ORIGINATION FEE to reflect i% of the <br /> actual amount disbursed to the BORROWER. An amendment to this CONTRACT shall be <br /> executed for the following changes including, but not limited to, an increase in TOTAL <br /> LOAN AMOUNT, change in pledged property, and a decrease in TOTAL LOAN AMOUNT <br /> with a change in the annual loan payment. Additionally, upon substantial completion <br /> of the PROJECT,the following applies: <br /> a. Upon substantial completion of the PROJECT with a resulting decrease in <br /> the TOTAL LOANAMOUNT and the BORROWER requests a change in the annual <br /> loan payment; the PARTIES agree to amend this contract. <br /> b. Upon substantial completion of the PROTECT with a resulting decrease in <br /> the TOTAL LOANAMOUNT, but no change in the annual payment, the <br /> STATE may exercise an option and shall provide written notice to the <br /> BORROWER inform substantially equivalent to Appendix 2. If exercised, the <br /> provisions of the OPTION LETTER and supporting documentation shall <br /> become part of and be incorporated into this CONTRACT for the total <br /> duration of this CONTRACT. <br /> 3. Contract Amendment Service Fees. Under certain circumstances, the BORROWER shall be <br /> assessed a service fee for amending the CONTRACT. <br /> a. A service fee shall be imposed on the BORROWER for amendments processed for <br /> the benefit of the BORROWER and necessary for the BORROWER'S course of business but <br /> not necessary for the CWCB, including, but not limited to, a change in the BORROWER'S <br /> name, assignment of contract, substitution of PLEDGED PROPERTY, loan payment <br /> deferments in excess of 3 per loan, and loan consolidation. Amendments in the course <br /> of CWCB business including, but not limited to, loan payment deferments (up to 3 per <br /> loan) and changes in terms of loan repayment will be processed at no additional charge <br /> to the BORROWER. <br /> b. The amount charged shall be in accordance with the service fee rate structure set <br /> forth in the CWCB Loan Service Charge Policy in effect at the time the BORROWER shall <br /> request an amendment. The current service fee for an amendment is $1,000. <br /> C. The BORROWER shall remit the service fee to the CWCB prior to initiation of the <br /> amendment. Any service fee remitted to the CWCB cannot be refunded. <br /> 4. Promissory Note Provisions. The PROMISSORY NOTE, shall identify the TOTAL LOAN AMOUNT. <br /> The CWCB agrees to loan to the BORROWER an amount not to exceed the TOTAL LOAN <br /> AMOUNT and the BORROWER agrees to repay the loan in accordance with the terms as set forth <br /> in the PROMISSORY NOTE, (attached as Appendix 3) and incorporated herein. <br /> Page 5 of 14 <br />