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. . "Authorized Officer" means, in the case of the Governmental Agency, the person whose name is set forth in Exhibit B hereto or such other person or persons authorized pursuant to a resolution or ordinance of the governing body of the Governmental Agency to act as an Authorized Officer of the Governmental Agency to perform any act or execute any document relating to the Loan, the Governmental Agency Bond or this Loan Agreement whose name is furnished in writing to the Authority. "Connnencement Date" means the date of commencement of the term of this Loan Agreement, as set forth in Exhibit B attached hereto and made a part hereof. "Costs" means those costs that are reasonable, necessary and allocable to the Project and are permitted by generally accepted accounting principles to be costs of the Project and are associated with the approved scope of work, the plans and specifications and any change orders, other than costs of water rights. "Custodian" means Zions First National Bank, or any successor appointed by the Authority as custodian of the direct loan portion of the Drinking Water Revolving Fund. "Event of Default" means any occurrence or event specified in Section 5.01 hereof. "Federal Capitalization Agreement" means the instrument or agreement established or entered into by the United States of America Environmental Protection Agency with the Authority to make capitalization grant payments pursuant to the Safe Drinking Water Act, as amended (42 U.S.C. Section 300f et sea.) "Govermnental Agency" means the entity that is a party to and is described in the first paragraph of this Loan Agreement, and its successors and assigns. C:\Sup\CWRF\Loa.n Agrl!l!ment9\Direc;t\OIATPIELC so GO."1Xl. -3- JUly 9, 1998