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<br />'I <br /> <br />2. Contract is not assignable. This contract is not assignable by the BORROWER except with the prior <br />written approval of the STATE. <br /> <br />3, Contract relationship. The parties to this contract intend lhat the relationship between them. <br />contemplated by this contract is that of lender-borrower, not employer-employee. No agent, employee, or <br />servant of the BORROWER shall be, or shall be deemed to be, an employee, agent, or servant of the STATE. The <br />BORROWER will be solely and entirely responsible for its acts and the acts of its agents, employees, servants, <br />engineering firms, construction firms, and subcontractors during the performance of this contract. <br /> <br />4. Complete integration of all understandings. This agreement is intended as the complete integration <br />of all understandings between lhe parties, No prior or contemporaneous addition, deletion, or other amendment <br />hereto shall have any force or effect whatsoever unless embodied herein in writing. No subsequent notation, <br />renewal, addition, deletion, or other amendment hereto shall have any force or effect unless embodied in a <br />written contract executed and approved pursuant to STATE fiscal rules. <br /> <br />5. Eligible expenses. PROJECT construction costs eligible for financing by the STATE shall be limited to <br />the cost of: <br /> <br />a. Preparing final designs and specifications for the PROJECT. <br /> <br />b. Preparing bid and construction contract documents. <br /> <br />c. Preparing environmental assessment or environmental impact statements, and otherwise complying <br />with the Federal National Environmental Policy Act. <br /> <br />d. Complying with all federal, state, and local regulatory requirements, including the obtaining of all <br />required permits. <br /> <br />e. Land and water rights acquisitions needed for the PROJECT, including the necessary appraisals and <br />evaluations. <br /> <br />f. Fish and wildlife mitigation measures required by federal, state, or local laws and regulations. <br /> <br />g. Aclual construction as called for in the design documents and in change orders approved by the <br />STATE, the BORROWER, the CONSULTANT and the CONSTRUCTION FIRM. <br /> <br />h. Engineering services for construction management, including design and construction management <br />for STATE-approved change orders. <br /> <br />i. Legal services for reviewing engineering services contracts, reviewing this contract, reviewing <br />construction contract documents, acquiring the land and water rights needed for the PROJECT, and for <br />complying with all federal, state, and local regulatory requirements. Legal services must be approved <br />by the STATE in writing before they are rendered'to be eligible for payment by the STATE. <br /> <br />6. STATE may release contract at its option. In its sole discrelion, the STATE may at any time give any <br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the BORROWER'S <br />obligations under this contract with or without valuable consideration, upon such terms and conditions as the <br />STATE may determine to be: <br /> <br />a, advisable to further the purposes of this contract or to protect the STATE'S financial interest therein, <br />and <br /> <br />b. consistent with both the statutory purposes of this contract and the limitations of the statutory <br />authority under which it is made. <br /> <br />TOWN OF MONUMENT <br /> <br />Page 7 of 11 <br /> <br />LOAN CONTRACT <br />