C153857 PIF

• Contract/PO #: C153857
• Contractor Name: Western Mutual Ditch Company
• Contract Type: Loan
• Loan Projects - Doc Type: Contract Documents

w
inspections are solely for the purpose of verifying compliance with the terms and conditions of this
contract. Furthermore, such inspections shall cover the condition of the PROJECT, operating records,
maintenance records, and financial records, and shall not be construed nor interpreted as an
approval of the actual design and/or construction of any element of the PROJECT facilities.
19. Adhere To Applicable Laws. The BORROWER shall strictly adhere to all applicable federal, state,
and local laws and regulations that are in effect or may hereafter be established throughout the term
of this contract.
20. No Discrimination Of Services. The services of said PROJECT shall be made available within its
capacity and in accordance with all pertinent statutes, rules and regulations, and operational
guidelines to all persons in the BORROWER'S service area without discrimination as to race, color,
religion, or national origin at reasonable charges (including assessments or fees), whether for one or
more classes of service, in accordance with a schedule of such charges formally adopted by the
BORROWER, as may be modified from time to time.
B. The STATE agrees as follows:
1. Agreement To Loan Money. The STATE agrees to loan to the BORROWER an amount not to exceed
that specified in the Promissory Note Provisions of this contract.
2. Disbursements. After receipt of the periodic progress report from the BORROWER, and review and
acceptance of the items therein as eligible expenses as described below, the STATE will pay to the
BORROWER the amount set forth in the report or such portion that has been approved by the STATE.
Such payment shall be made within thirty (30) days from the STATE'S approval of each progress
report.
3. Release After Loan Is Repaid. Upon complete repayment to the STATE of the entire principal, all
accrued interest, and late charges, if any, as specified in the promissory note, the STATE agrees to
execute releases of the security agreements and the Assignment of Deposit Account as
Security to convey to the BORROWER all of the STATE'S right, title, and interest in and to the
security provided for this loan, to file a UCC-3 form with the Secretary of State to terminate
all of the STATE'S rights in and to the security provided for this loan, and to release to the
BORROWER any unused funds contained in the CD ACCOUNT.
70t1D IN FULL
C. The STATE and the BORROWER mutually agree as follows:
1. Designated Agent Of The STATE. The CWCB, which includes its agents and employees, is hereby
designated as the agent of the STATE for the purpose of this contract.
2. Contract Is Not Assignable. This contract is not assignable by the BORROWER except with the prior
written approval of the STATE.
3. Contract Relationship. The parties to this contract intend that the relationship between them
contemplated by this contract is that of lender-borrower, not employer-employee. No agent,
employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or
servant of the STATE. The BORROWER shall be solely and entirely responsible for its acts and the
acts of its agents, employees, servants, engineering firms, construction firms, and subcontractors
during the performance of this contract.
4. Complete Integration Of All Understandings. This agreement is intended as the complete
integration of all understandings between the parties. No prior or contemporaneous addition,
Western Mutual Ditch Company Page 8 of 13 Loan Contract