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<br />r-. <br />I' \ <br />~' ~ I <br /> <br />--., <br /> <br />possession of the project, repair, maintain, and operate or lease it; (d) act upon the <br />security (described in paragraph B.14, above) conveyed to the State; (e) take action to <br />enforce paragraphs B.ll. and 13. above; and/or (f) take any other appropriate legal <br />action. All remedies described herein may be simultaneously or selectively and <br />successively enforced. The provisions of this contract may be enforced by the State at <br />its option without regard to prior waivers by it of previous defaults by the Contractor, <br />through 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 State to ensure <br />compliance with provisions of this contract and the laws and regulations under which <br />this contract is entered into. <br /> <br />D. The State agrees that it shall: <br /> <br />1. Loan to the Contractor for the cOIlStruction of the <br /> <br />project an amount not to exceed Nine Hundred Eighty Thousand Six Hundred Seventy- <br />Five Dollars ($980,675). Said Nine Hundr~d Eighty Thousand Six Hundred Seventy- <br />Five Dollars ($980,675) shall be made available to the Contractor in accordance with <br />the following terms and conditions: <br /> <br />a Co=encing ten (10) days from the date of this contract and for every <br />month thereafter until said project has been completed, the Contractor <br />shall prepare, with the assistance of the Consultant referred to in <br />paragraph 1. above, an estimate of the funds required for project <br />construction during that month and shall forward said estimate to the State <br />not less than fifteen (15) days prior to the beginning of such month. <br /> <br />b, Upon receipt and approval' by the State of such monthly estimate, the <br />State will, within forty (40) days from the approval of such estimate, pay <br />over to the Contractor the amount of the monthly estimate or such portion <br />thereof as has been approved by the State. <br /> <br />c, Project construction costs eligible for payment by the State shall be <br />limited to the cost of: <br /> <br />(1) Preparing final designs and specifications for the project. <br /> <br />(2) Preparing bid and construction contract documents. <br /> <br />(3) Preparing environm~ntal assessment or environmental impact <br />statements, and otherwise complying with the federal National <br />Environmental Policy Act. <br /> <br />(4) Complying with all federal, State, and local regulatory <br /> <br />Page lof 13 Pages <br />