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ii. Resolution of Controversies Regarding Loan Default <br /> For any dispute not involving Borrower's default on the Loan, if the initial resolution <br /> described in §20 fails to resolve the dispute within 60 Business Days, the CWCB will <br /> submit the dispute to the CWCB board for review, who will determine a resolution to <br /> the dispute. <br /> 21. REMEDIES <br /> A. State's Remedies <br /> i. Loan Default Remedies <br /> Upon default in the payments to be made by the Borrower under this Contract, or <br /> default in the performance of any covenant or agreement contained herein, the <br /> CWCB, at its option, may do any of the following: <br /> a. Suspend this Contract and withhold further loan disbursements pending <br /> corrective action by the Borrower and if the Borrower does not cure the default <br /> as provided for below, permanently cease loan disbursements and deem the <br /> Project substantially complete. <br /> b. Declare the entire principal amount, accrued interest, and late charges, if any, <br /> then outstanding immediately due and payable. <br /> c. Exercise its rights under any appendices to this Contract, including, but not <br /> limited to, the Promissory Note, Security Agreement, and/or any instrument <br /> securing pledged revenues and property. <br /> d. Take any other action deemed appropriate by the CWCB. <br /> The CWCB shall provide written notice to the Borrower of any such default and shall <br /> give the Borrower an opportunity to cure within sixty (60) days of receipt of such <br /> notice. All remedies described herein may be simultaneously or selectively and <br /> successively enforced. The CWCB may enforce the provisions of this Contract at its <br /> option without regard to prior waivers of previous defaults by the Borrower, through <br /> judicial proceedings to require specific performance of this Contract, or by such <br /> other proceedings in law or equity as may be deemed necessary by the CWCB to <br /> ensure compliance with provisions of this Contract and the laws and regulations under <br /> which this Contract is executed. The CWCB's exercise of any or all of the remedies <br /> described herein shall not relieve the Borrower of any of its duties and obligations <br /> under this Contract. <br /> B. Borrower's Remedies <br /> If the State is in breach of any provision of this Contract and does not cure such breach, <br /> Borrower, following the notice and cure period in §24.B. and the dispute resolution process <br /> in §20 shall have all remedies available at law and equity. <br /> 22. INSURANCE. <br /> Upon execution of this Contract and continuing until complete repayment of the loan is made to <br /> the CWCB,the Borrower shall obtain and maintain: <br /> A. General Liability <br /> Page 10 of 19 <br /> Contract Number:CT2018-1960 <br />