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(. .. .~1 '.. than a bona fide employee working solely for the BORROWER, to solicit. or secure .this contract, and has not paid or agreed to pay any person, company, corporation, individual, or firm, other than a bona fide employee, any fee, commission, percentage, gift, or other consideration contingent upon or resulting from the award or the making of this contract. c. The BORROWER warrants that the collateral for this loan is not encumbered by any other deeds of trust or liens of any party other than the CWCB or in any other manner. 11. Change of Use of Water Shares During Term of Contract. If the interest rate for this loan is based on the CWCB's agricultural or blended agricultural and municipal rates, the BORROWER agrees to notify the CWCS of any change of the use of the water rights represented by its shares from irrigation to municipal or commercial use. The interest rate shall be revised when the blend of the agricultural rate and the municipal/commercial rate increases the original interest rate by 0.5% or more. The parties shall amend this contract, including a revised promissory note, to effect said change in interest rate in accordance with Paragraph A.4 herein. 12. Remedies For Default. Upon default in the payments to be made by the BORROWER under this contract, or if the BORROWER fails to comply with any provision of this contract, the CWCB, at its option, may: a. suspend this contract and withhold further loan disbursements pending corrective action by the BORROWER, and if the BORROWER does not cure the default as provided for below, permanently cease loan disbursements and deem the PROJECT substantially complete; b. declare the entire principal amount, accrued interest, and late charges, if any, then outstanding immediately due and payable; a. exercise its :ighlS under any appendices to this contract, including, but not limited to, the Promissory Note, Security Agreement, Assignment of Certificate of Deposit; and/or b. take any other appropriate action. The CWCB shall provide written notice tot he Borrower of any such default and shall give the Borrower an opportunity to cure within thirty (30) days of receipt of such notice. All remedies described herein may be simultaneously or selectively and successively enforced. The CWCB may enforce the provisions of this contract at its option without regard to prior waivers of previous defaults by the BORROWER, through judicial proceedings to require specific performance of this contract, or by such other proceedings in law or equity as may be deemed necessary by the CWCB to ensure compliance with provisions of this contract and the laws and regulations under which this contract is executed. The CWCB'S exercise of any or all of the remedies described herein shall not relieve the BORROWER of any of its duties and obligations under this contract. 13. BORROWER'S Indemnification Of The eWCB. The BORROWER agrees to indemnify and hold the CWCB harmless from any liability incurred by the CWCB as a result of the CWCB's interest in the PROJECT facilities and any other property identified in Section 3 (Collaterill) of the Project Summary. 14. OPERATION OF PROJECT. The BORROWER shall, without expense or legal liability to the CWCB, manage, operate, and maintain the PROJECT continuously in an efficient and economical manner. 15. BORROWER'S Liability Insurance. Upon execution of this contract and continuing until complete repayment of the loan is made to the CWCS, the BORROWER shall maintain commercial general liability insurance with a company that is satisfactory to the CWCB covering the management, West Rhone Lateral Ditch Company Page 4 of 11 Loan Contract