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r-~ / - C. The State agrees that it shall: 1. Loan to the Contractor for the purpose of this contract an amount not to exceed One Hundred Thirty-Seven Thousand One Hundred Thirty-Two Dollars and Ninety-Four Cents ($137,132.94). Said One Hundred Thirty-Seven Thousand One Hundred Thirty-Two Dollars and Ninety-Four Cents ($137.132.94) shall be made available to the Contractor in accordance with the following terms and conditions: I a. Beginning with the monthly period commencing September 15. 1986. and for every month thereafter until said project has been completed. the Contractor shall prepare. with the assistance of the engineering firm referred to in paragraph A.l. above. an estimate of the funds required from the State for project construction during that month and shall forward said estimate to the State not less than fifteen (15) days prior to the beginning of such month, b. Upon receipt and approval by the State of such monthly estimate. the State will. within forty (40) days from the receipt of such estimate. pay over to the Contractor the amount or the monthly estimate or such portion thereof as has been approved by the State, c. No payments will be made under this contract until the project plans and specifications referred to in paragraph A.I. above are approved by the State. I. Upon completion of the repayment to the State in the sum of Three Hundred Nineteen Thousand Six Hundred Seventy-Four Dollars and Forty Cents ($319.674,40) as set forth in paragraph A.ll. of this contract. the State agrees to convey to the Contractor all of the State1s right. title. and interest in and to the project and any other property described in paragraph A.5. by deed or other proper conveyance. Page ~ of ~ Pages