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~-~. WHEREAS. the parties agree that it would be mutually beneficial to terminate the Contractor1s separate Three Thousand Dollars ($3.000) obligation under the feasibility report contract provided that the repayment of the Three Thousand Dollars ($3,000) (which represents the principal amount provided by the State for the purpose of partially funding the feasibility report for the Ish Dam project) will be integrated with the Contractor's repayment of the construction loan of the project contract, which will be executed contemporaneously with and immediately prior to the execution of this termination contract. . NOW. THEREFORE it is hereby agreed that: 1, The feasibility report contract entered into between the State and the Contractor on October 22, 1987 (attached as Exhibit B and incorporated by reference herein), Contract Encumbrance No. C-153405. is hereby terminated and the remaining obligations of the ,state 'and the Contractor under the terms of that contract are no longer.enforceable. 2. The Contractor agrees to the following terms for the repayment of Three Thousand Dollars ($3.000). which represents the principal amount provided by the State as partial financing for the feasibility report under the terms of the feasibility report contract: a. The Three Thousand Dollars'($3.000) referred to above will be added to that amount loaned to the Contractor by the State under the project contract,for the repair of the Ish Dam project;" b, The total amount described in paragraph 2.a. above and interest for the full term will be repaid under the terms of the project contract td be entered into between the State and the Contractor, 3. This termination' of the feasibility report contract will not be effective until such time as a valid and enforceable project contract containing the terms of paragraph 2. above is in effect for the repair of the lsh Dam project. Page ~ of ~ Pages ) .~