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4 <br /> Onion Valley Dam an appurtenant structures, will be integrated <br /> with the Fruitland Irrigation Company ' s repayment of the <br /> construction loan of the project contract , which will be <br /> executed contemporaneously with and immediately prior to the <br /> execution of this termination contract . <br /> NOW, THEREFORE it is hereby agreed that : <br /> 1 . The feasibility report contract entered into between <br /> the State and the Contractor on February 15 , 1987 (attached as <br /> Exhibit B and incorporated by reference herein) , Contract <br /> Encumbrance No. C- 153487 , is hereby terminated and the <br /> remaining obligations of the State and the Contractor under the <br /> terms of that contract are no longer enforceable. <br /> 2 . The Contractor agrees to the following terms for the <br /> repayment of Three Thousand Dollars ($3 , 000) , which represents <br /> the principal amount provided by the State as partial financing <br /> for the feasibility report under the terms of the feasibility <br /> report contract : <br /> a . The Three Thousand Dollars ($3 , 000) referred to <br /> above will be added to that amount loaned to the <br /> Fruitland Irrigation Company by the State under the <br /> project contract for the repairs of Onion Valley Dam <br /> and appurtenant structures . <br /> b. The total amount described in paragraph 2 .a . <br /> above and interest for the full term will be repaid <br /> under the terms of the project contract to be entered <br /> into between the State and the Fruitland Irrigation <br /> Company. <br /> 3 . This termination of the feasibility report contract <br /> will not be effective until such time as a valid and <br /> enforceable project contract containing the terms of paragraph <br /> 2 . above is in effect for the repairs of Onion Valley Dam and <br /> appurtenant structures . <br /> 51 <br /> Page 2 of 4 Pages <br />