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<br />partially funding the feasibility report for the Reservoir No. 15 <br />Dam project) with the Contractor's repayment of the loan which <br />will be made pursuant to the project contact: <br /> <br />NOW. THEREFORE it is hereby agreed that <br /> <br />1. The feasibility report contract entered into between the <br />State and the Contractor on August 27, 1984 (attached as Exhibit <br />B and incorporated by reference herein), is hereby terminated; <br />and the remaining obligations of the State and the Contractor <br />under the terms of that contract are no longer enforceable. <br /> <br />2. The Contractor agrees to the following terms for the <br />repayment of Twelve Thousand Five Hundred Dollars ($12,500), <br />which represents the principal amount provided by the State as <br />partial financing for the feasibility report under the terms of <br />the feasbility report contract: <br /> <br />a. The Twelve Thousand Five Hundred Dollars ($12,500) <br />referred to above will be added to the amount loaned to <br />the Contractor by the State under the project contract <br />for the construction of the Reservoir No. 15 Dam <br />project. <br /> <br />b. The total amount described in paragraph 2.a. above <br />and interest for the full term will be repaid under the <br />terms of the project contract to be entered into between <br />the State and the Contractor. <br /> <br />3. This termination of the feasibility report contract will <br />not be effective until such time as a valid and enforceable <br />project contract is in effect for the construction of the <br />Reservoir No. 15 Dam project. <br /> <br />Page 2 of 4 Pages <br />