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<br />right, title, and interest in and to the property described in the deed of trust, to file a UCC-3
<br />form with the Secretary of State to terminate all of the STATE'S rights in and to the
<br />BORROWER'S right to receive assessment revenues pledged to repay this loan, and to execute
<br />releases of the Assignment of Certificate of Deposit and Assignment of Deposit Account as
<br />Security.
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<br />C, The STATE and the BORROWER mutually agree as follows:
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<br />1. Designated Agent Of The STATE. The CWCB, which includes its agents and employees, is
<br />hereby designated as the agent of the STATE for the purpose of this contract.
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<br />2. Contract Is Not Assignable. This contract is not assignable by the BORROWER except with
<br />the prior written approval of the STATE.
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<br />3. Contract Relationship. The parties to this contract intend that the relationship between them
<br />contemplated by this contract is that of lender-borrower, not employer-employee, No agent,
<br />employee, or servant of the BORROWER shall be, or shall be deemed to be, an employee,
<br />agent, or servant of the STATE. The BORROWER shall be solely and entirely responsible for its
<br />acts and the acts of its agents, employees, servants, engineering firms, construction firms, and
<br />subcontractors during the performance of this contract.
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<br />4. Complete Integration Of All Understandings. This agreement is intended as the complete
<br />integration of all understandings between the parties. No prior or contemporaneous addition,
<br />deletion, or other amendment hereto shall have any force or effect whatsoever unless
<br />embodied herein in writing. No subsequent novation, renewal, addition, deletion, or other
<br />amendment hereto shall have any force or effect unless embodied in a written contract
<br />executed and approved pursuant to STATE fiscal rules, unless expressly provided for herein.
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<br />5. In Event Of A Conflict In the event of conflict between the terms of this contract and
<br />conditions as set forth in any of the appendices, the provisions of this contract shall control.
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<br />6. Eligible Expenses. PROJECT costs eligible for financing by the STATE shall be limited to 90% of
<br />the cost of:
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<br />a. Preparing final designs and specifications for the PROJECT,
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<br />b. Preparing bid and construction contract documents.
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<br />c. Preparing environmental assessment or environmental impact statements, and otherwise
<br />complying with the Federal National Environmental Policy Act.
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<br />d. Complying with all federal, state, and local regulatory requirements, including the obtaining
<br />of all required permits.
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<br />e. Fish and wildlife mitigation measures required by federal, state, or local laws and
<br />regulations,
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<br />f. Actual construction as called for in the design documents and in change orders approved
<br />by the STATE, the BORROWER, the CONSULTANT and the CONSTRUCTION FIRM.
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<br />g. Engineering services for construction management, including design and construction
<br />management for STATE-approved change orders.
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<br />h. Legal services for reviewing engineering services contracts, reviewing this contract,
<br />reviewing construction contract documents, and for complying with all federal, state, and
<br />local regulatory requirements.
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<br />7. STATE May Release Contract. In its sole discretion, the STATE may at any time give any
<br />consent, deferment, subordination, release, satisfaction, or termination of any or all of the
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<br />Jackson Lake Reservoir and Irrigation Co, Page 8 of 13
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<br />Loan Contract
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