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C. The Borrower shall remit the service fee to the CWCB prior to initiation of the amendment. <br /> Any service fee remitted to the CWCB cannot be refunded. <br /> 9. PROMISSORY NOTE PROVISIONS. <br /> The Promissory Note shall identify the Total Loan Amount. The CWCB agrees to loan to the <br /> Borrower an amount not to exceed the Total Loan Amount and the Borrower agrees to repay the <br /> loan in accordance with the terms as set forth in the Promissory Note, (attached as Appendix 3) <br /> and incorporated herein. <br /> to. INTEREST PRIOR TO PROJECT COMPLETION. <br /> For all loan funds disbursed by the CWCB to the Borrower prior to the Contract Project <br /> Performance End Date, interest shall accrue on the disbursed funds at the rate set by the CWCB <br /> for this loan.The CWCB shall calculate the amount of the interest that accrued prior to the Project's <br /> substantial completion (as determined by the CWCB) and notify the Borrower of such amount. <br /> The Borrower shall repay that amount to the CWCB either(1)within thirty(30)days from the date <br /> of notification from the CWCB,(2)at the CWCB's discretion, said interest shall be deducted from <br /> the final disbursement of loan funds that the CWCB makes to the Borrower,or(3)at the CWCB's <br /> discretion,said interest shall be rolled into the Total Loan Amount due. <br /> 11. RETURN OF UNUSED LOAN FUNDS. <br /> Any loan funds disbursed but not expended for the Project in accordance with the terms of this <br /> Contract shall be remitted to the CWCB within thirty(30)calendar days from notification from the <br /> CWCB of either(1)completion of the Project or(2) determination by the CWCB that the Project <br /> will not be completed.Any such loan funds so remitted to CWCB shall be applied to the principal <br /> payment of amounts due on the Loan. <br /> 12. BORROWER'S AUTHORITY TO CONTRACT. <br /> The BORROWER warrants that it has full power and authority to enter into this Contract. The <br /> execution and delivery of this Contract and the performance and observation of its terms, <br /> conditions and obligations have been duly authorized by all necessary actions of the Borrower.The <br /> Borrower's Authorizing Resolution(s) (attached as Appendix 4) and incorporated herein, include <br /> the Resolutions of the Shareholders and the Resolutions of the Board of Directors. <br /> 13. ATTORNEY'S OPINION LETTER. <br /> Prior to the final execution of this Contract the Borrower shall submit to the CWCB a letter from <br /> its attorney stating that it is the attorney's opinion that: <br /> A. the Contract has been duly executed by officers of the Borrower who are duly elected or <br /> appointed and are authorized to execute the Contract and to bind the Borrower; and <br /> B. the resolutions of the Borrower authorizing the execution and delivery of the Contract were <br /> duly adopted by the Borrower's board of directors and shareholders;and <br /> C. there are no provisions in the Borrower's articles of incorporation or bylaws or any state or <br /> local law that prevent this Contract from binding the Borrower; and <br /> D. the Contract will be valid and binding against the Borrower if fully executed. <br /> Page 6 of 19 <br /> Contract Number:CT2018-2832 <br />